September Market Statistics

Sales across the Charlotte region fell again in September. They dropped 3.9% from last year from 4,121 down to 3,960 sales. These numbers all come from the Charlotte Regional Realtor Association’s monthly report based on data from the Carolina Multiple Listing Services, Inc.

According to the report, inventory was also down. Last year at this time there were 12,297 homes for sale in the region and this year there are only 10,140. This is a 17.5% decline year over year. The region is left with only a 2.5 month supply of homes. A balanced market giving equal power to buyers and sellers in a transaction is generally considered to be a six month supply.

Home prices on the other hand, continue to rise. The average sales price was 6.3% higher at $271,606. Median sales price was up 9.2% to $225,000. This shows that the seller’s market that has been the trend is showing no signs of stopping.

Pending sales were up 16.4% to 4,137 up from 3,555. The strength of pending sales shows that we should have a stable market for a while to come.

New listings are up year over year. They are up 3.3% to 4,700 from 4,550. This shows seller’s confidence in the market continuing to be strong.

Homes are selling quicker than last year as well. The time on the market from list to close was 99 days last year and this year is down to 90 days. Loans still take about the same time to come through so this means that the days on the market until the sale were also down from 47 to 39 days.

The market shows all indications of remaining a strong seller’s market, even with sales in a slump. If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Check out the Parade of Homes

If you are interested in new construction in the Charlotte area but aren’t sure what you want in a home, the Parade of Homes is a great place to start. This showcase highlights model homes in communities all around the area in a wide variety of styles, home builders, and price points. The Parade of Homes is also a great way to learn your way around if you are new to town.

The Parade of Homes began last weekend, and continues this weekend and the next. Dates are October 13-15, and 20-22. Homes are open from 11:00 am to 6:00 pm on Fridays and Saturdays, and from 1:00 pm to 6:00 pm on Sundays. The tour is free of charge and even has an app this year that will help you navigate. You can also check out http://www.paradecharlotte.com/ for the interactive website to plan your tour.

The Parade of Homes is like a huge open house. The best home builders in Charlotte and the surrounding area are all participants. They pull out all of the stops to show you everything they can do for you. Builders show fully furnished model homes and hope to get you to sign on the dotted line for a new home.

Some important things to remember about purchasing a new home. Just like purchasing an existing home, it is important to have your own Realtor represent you in the transaction. All of the sales staff for the builder work for the builder’s interests. You want to make sure you have someone to help guide you through what will probably be the single biggest investment in your life. A Realtor can help you through the process of choosing all of the options, upgrades, and finishes that will make your house a home, but will also make it appreciate and if necessary, get you the best price on resale.

Eighty homes will be a part of the tour this year highlighting 21 builders. Prices range from $240,000 up to $1.4 million. The show is organized by the Home Builders Association of Greater Charlotte. This year the homes are in Fort Mill, Rock Hill, Weddington, Huntersville, Concord, and in Charlotte as well. Builders represented this year are:

  • Alan Simonini Homes
  • Arthur Rutenberg Homes
  • Bonterra Builders
  • Century Communities
  • Chelsea Building Group
  • David Weekley Homes
  • Epcon Communities
  • Essex Homes
  • Fielding Homes
  • H & H Homes
  • Knotts Builders
  • Kolter Homes
  • Mattamy Homes
  • Meritage Homes
  • Niblock Homes
  • Saussy Burbank
  • Shea Homes
  • Smith Douglas Homes
  • Taylor Morrison
  • Terrata Homes
  • Toll Brothers

If you are interested in a new home in the Charlotte area, go tour the Parade of Homes, then give us a call at (704) 525-4045 and we will be happy to help you navigate through the process of purchasing your new home. You can also view current listings on our website here.

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Spotlight: Manor at Oakhaven

Just off Providence Road West near the intersection of Old Ardrey Kell Road sits the small new neighborhood Manor at Oakhaven. This exclusive project only has 36 homesites so if you want to get in on it, you have to act quickly.

Builder CalAtlantic homes is offering 6 floorplans packed with features that will work for any family.

  • Joyner – $448,900 to start 2,473 sq ft 3 bed 2.5 bath 2 garage 2 story
  • Edison – $460,990 to start 2,820 sq ft 4 bed 3 bath 2 garage 2 story
  • Pemberton – $468,990 to start 2,997 sq ft 4 bed 2.5 bath 2 garage 2 story
  • Galvani – $487,990 to start 3,415 sq ft 5 bed 3 bath 2 garage 2 story
  • Whitlock – $491,990 to start 3,567 sq ft 4 bed 3.5 bath 2 garage 2 story
  • Downing – $504,490 to start 3,729 sq ft 4 bed 3.5 bath 2 garage 2 story

Each of these plans can be customized to meet your particular needs. Bedrooms and bathrooms can be added, and elevations can be modified. Gourmet kitchens and open floorplans are standard and most plans include flex space to meet your needs as your life changes.

Manor at Oakhaven is right in the heart of Ballantyne with access to world-class golf, shopping, dining, and entertainment. There is also great access to I-485 for an uptown commute or a trip to the Charlotte Douglas International Airport. Many employers have a presence near Ballantyne so there are plenty of positions without an Uptown commute.

Great schools are currently zoned for Manor at Oakhaven. Children here will attend Elon Park Elementary, Community House Middle, and Ardrey Kell High Schools. There are also many private, preschool, mother’s day out and daycare options nearby.

If you would like to live in Manor at Oakhaven, give us a call at (704) 525-4045. There are quick move-in homes available or we can help you customize on to fit your needs. You can view current listings on our website here.

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August Market Update

The trend continues with no apparent end in sight. Once again, inventory is down in the Charlotte area while prices creep upwards. But the real story is that home sales took another hit in August. These numbers all come from the Charlotte Regional Realtor Association reporting on data from the Carolina Multiple Listing Service.

Inventory is down 18.6% compared to August of last year leaving just a 2.6 month supply. 10,153 homes were on the market for sale, while last year there were 12,477. Last month there were 10,174 for a decrease of 21 listings month over month.

Sales were down 3.8% for the same period. 4,297 homes sold in August as compared to 4,467 last year at this time. This number is up slightly over last month, just 1.2% higher than July.

Median sales price crept up to $230,000 while average sales price inched up to $273,549. This means median sales price is up 5% from this time last year but is down from last month’s $236,000. Average sales price is up 1% from last August, but is down from last month’s $280,696. These numbers can be affected by a few large sales so we will have to wait and see if this is a new trend where prices might be adjusting.

5,394 new listings hit the market in August which represents an increase of 6% over last year.

Industry analysts are predicting that the market will begin to balance over the next couple of years. They expect some relief to the inventory woes as the cooler months typically have a slowdown in the market. This seasonal slowdown should, weather permitting, allow builders to provide more inventory to the market.

The Charlotte area doesn’t seem to be cooling off anytime soon. There is still demand for listings and there is still positive job growth. This means it is still a great place to call home.

If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can view current listings on our website here.

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Spotlight: Marvin Chase

Now pre-selling, Marvin Chase is the newest neighborhood in the heart of Marvin. There will be 17 custom built homes here by Century Communities. Located only minutes from I-485, Marvin Chase is just a quick drive from Ballantyne, Blakeney, and the Shoppes at Rae. Just head south down Johnston Road (Highway 52) and turn left on Marvin road, Marvin Chase is on the right.

Century Communities has three floorplans to choose from that can be customized to meet your family’s needs. Below is a quick summary of each:

  • Hawthorne – This plan includes a huge owner’s suite with retreat. Dual vanities and walk-in closets are standard. There is an open kitchen with an oversized island, granite counters, in-wall oven, and stainless steel appliances. A large covered patio lets you enjoy outdoor space.
  • Providence – This plan features an open floor plan with gourmet kitchen. 42” maple cabinets, granite counters, stainless steel appliances, walk-in pantry are standard. There is a guest suite downstairs with full bathroom. Additional flex space could be an office or formal living room. The large owner’s suite has dual vanities, separate tub and shower. There are two additional bedrooms, a loft, and optional game room upstairs.
  • Bridgeport – This plan includes a huge owner’s suite with luxurious bath with dual vanities and large walk-in closet. The kitchen has a large center island with granite counters, stainless steel appliances, custom cabinetry, in-wall oven and more. There is also a large private covered patio for indoor/outdoor living.

Marvin Chase feeds to top rated schools, Elon Park Elementary, Community House Middle, and Ardrey Kell High School. There are also many private, preschool, daycare, and mother’s day out programs nearby. Please verify school assignments as they are subject to change.

Homes in Marvin Chase range between $467,990 and $527,990 and could go higher depending on upgrades. They have between 4 and 6 bedrooms, and 3 to 5 bathrooms. You can choose between a 2 or 3 car garage and square footage ranges between 2,983 and over 4,000 square feet.

Don’t miss an opportunity to get in on this new community! Give us a call at (704) 525-4045. We would love to help you through the process of customizing your new home. You can also view current listings on our website here.

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July Market Statistics

The housing market in the Charlotte continues to be strong this summer. All indicators are that sales are strong, they are up 3.1% year over year which is a rise of 127 sales. However, total inventory is still down year over year down to a 2.6 month supply of homes.

The monthly report from the Charlotte Regional Realtor Association also shows that sales slowed between June and July. Sales are down 473 homes from one month to the next. This appears to follow a yearly trend. In 2016 there was a dip in sales of 785 homes between June and July.

The 2.6 months of inventory are down 25.7% from June of 2016 when there was a 3.5 month supply of homes. There were only 10,174 homes on the market at the time of the report as compared to 12,685 in July of 2016.

There are a few factors that are keeping a shortage of homes on the market. Sellers are not listing homes the same way. There is a trend of homeowners staying in homes longer, not trading up from a starter home, or just buying their forever home from the beginning. With a lack of supply in the market, it is hard for sellers to sell until they have secured their next home. This leads to a catch-22 where sellers won’t sell because they have nothing to buy.

Builders are not able to make up the gap fast enough to add supply to the market to keep up with buyer demand. There has been a labor shortage for builders so they are relying on a smaller pool of talent and that inevitably slows down building.

New listings are up 5.9% from 5,123 to 5,427. Pending sales are also on the rise from 4,068 to 4,724 representing a rise of 16.1% year over year. This is a strong sign that the market is going to continue on the current trajectory.

If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Spotlight: Stratford Hall

Union county is home to some great homes and the ones in Stratford Hall are a wonderful example. The gated neighborhood has just a few homes so it is secluded and private with a great small community. Zoned for Weddington schools, Stratford Hall has a prestigious location with amazing homes.

Stratford Hall is located just off Weddington-Matthews Road near the intersection of Tilley Morris Road. From the gates, a trip to Uptown Charlotte will take around 40 minutes via quick access to I-485. Charlotte Douglas International Airport is about 35 minutes away. There are shopping options within a 5 minute drive in Ballantyne. This gives you all the convenience you would need while helping you get away from it all.

Gourmet Kitchen in Stratford Hall

The small size means that there are few amenities that are shared by the whole neighborhood. There is a pond with walking trails and a shared pasture that is conservation land so will not be developed further. Many homes have their own oasis in the large yards. There are plenty of outdoor living spaces including outdoor kitchens, pools, fireplaces, lounge areas and more.

The large lots are also home to stately homes with winding driveways, three or more car garages some split and most side-load.

Homes are unique here as they were all custom built. There is a range in style from Old World, Transitional, French Provincial, Traditional, Mediterranean, Tudor, Craftsman, and Nantucket. Most homes have brick or stone exteriors with custom details like hand crafted custom front doors and designer lighting.

A luxury bathroom in Stratford Hall

Mature landscaping is common as most of the neighborhood was built around 2005-2007. There is one new construction home right now with even more luxury features developed or come into fashion in the last ten years.

Homes in Stratford Hall range in size from 3,600 – over 9,000 square feet. Homes generally range in price from the $500’s to $1.5 million. Luxury features abound and include gourmet kitchens, spa-like bathrooms, custom cabinetry, owner’s suites, custom millwork and more.

If you would like to own a home in Stratford Hall, give us a call at (704) 525-4045 and we can help get you into the home of your dreams. You can also view current listings on our website here.

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More 55 and over Active Communities Coming to Charlotte

Trends show that people want to downsize after their children leave the nest. Builders have noticed this trend and they are responding in a big way. There are at least 6 communities specifically catering to active adults over age 55. Trilogy Lake Norman, Cypress, Tree Tops, Aldersgate, Cresswind Charlotte and Carolina Orchard have been built over the last few years. There are many other projects in the works as demand is soaring.

Most of the communities have found features specifically geared toward a soon to be aging population. These features include single-story homes, low to no maintenance exteriors taken care of by an HOA, and start prices around $200,000.

The thing that sets these communities apart are the amenities. They usually have large recreation centers with gyms, yoga rooms, spin classes, heated salt-water pools and more. Many of them have cooking classes, poker clubs, book clubs, boating clubs, and dinner outing clubs. There are even some communities that cater to the travel minded, organizing group trips to destinations all over the world.

The active adults that want to live in these places are still very much a part of the wider community. Many of them move to be closer to family, but to still be independent. There is really a sense of belonging within the projects.

Many of these 55 and older communities are marketed as if they are campuses of like minded people coming together. They focus on holistic wellness, resort style amenities, and social interaction. There are also many of the communities that provide full assisted living for residents who require a higher level of care.

If you are interested in one of the many communities for active adults in and around Charlotte, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Three New Projects to Look For From David Weekly Homes

David Weekly Homes has long provided quality homes with great design to the Charlotte area. They have two new projects underway, and one more for which they have just applied for a zoning change. They range from SouthEnd to SouthPark/South Charlotte to Ballantyne. These exciting projects are worth waiting for.

1) Belton Street – This project is part of the Central Living by David Weekly Homes which focuses on high-density living. This community will embrace a luxurious, low-maintenance lifestyle.

Homes will be paired villas with six floorplans to choose from ranging from 2,500 to 3,100 square feet. The model home will offer three bedrooms, two full baths, one half-bath, a two car garage, owner’s retreat, balcony, and private backyard.

Single-family homes will feature a variety of open floor plans, each with 10-foot ceilings and large kitchens.

Located in Sedgefield, Belton Street is walking distance to LYNX light rail with easy access to I-277 and I-77. The airport is very convenient and you are close to all ,100 SouthEnd and Uptown Charlotte have to offer. SouthPark is close for world class shopping and dining.

Current zoning has students in Belton Street attending Selwyn Elementary, Alexander Graham Middle, and Myers Park High Schools. There are also many private, preschool, and daycare options in the area. Please verify school assignments as they are subject to change.

Expect sales to begin late in the summer.

2) SouthRidge – SouthRidge is a new community coming to the Ballantyne area next to Ballantyne Country Club. Located on North Community House Road, this project will feature single-family homes, townhomes, and paired villas. There is plenty to keep you occupied close to home with shopping, dining, and entertainment. The Morrison Family YMCA is convenient, as are many employers in Ballantyne Corporate Park. There is easy access to I-485 for quick access to Uptown Charlotte and Charlotte Douglas International Airport.

SouthRidge will feature 27 single-family homes and 60 townhomes starting in the $400’s. Homes are expected to be in the 2,900 to 3,900 square foot range. Pre-sales should start this summer.

3) David Weekly Homes just filed a rezoning petition for a project near Rea and Colony Roads. They expect to build up to 30 townhomes on the 3.6 acre partially wooded site adjacent to the shopping center at the intersection. The site plan with the filing showed a private street network with townhomes in groups of three and four. Dual access points would feed in from Rea road and from the wooded area at the back of the site. City council should vote on the plan in the coming months.

If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can also find current listings on our website here.

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Spotlight: Parkside

If you’re looking for a home in Ballantyne, close to great schools, with hassle free landscaping, plenty of thoughtful finishes and energy efficiency, you should take a look at Parkside. Homes in Parkside are all being built surrounding Ballantyne Elementary School. The first phase is now selling, and quickly.

Located just off Marvin Road between Providence Road and Highway 521, Parkside is in an ideal location. Shopping, entertainment, fitness, and more are just north in Ballantyne. There are also plenty of outdoor adventures, golf courses, parks, and country clubs close by.

Yards are no maintenance in Parkside. The HOA maintains the yards for you. This allows you to have plenty of time to enjoy the lavish interior of your new home.

Gannet Plan rendering

There are three floor plans to choose from in the first phase of Parkside. Each has a two car garage, open floor plan and includes standard energy efficient features. The energy efficiency includes spray-foam insulation, Energy Star appliances, programmable thermostat, Low-E vinyl windows, HVAC, efficient lighting, and water-efficient fixtures. Special packages can include smart features such as video doorbell, smart door locks, lighting controls, advanced thermostats, and smart garage doors.

The Gannett plan has a large kitchen island, open kitchen/great room and casual dining area. Upstairs has a loft and large bedrooms. This home starts at 2,196 square feet and has 3 bedrooms, 2.5 baths and has the master upstairs. Starting price is $322,990.

The Avocet plan has side open living on the first floor with a large kitchen island. A spacious owner’s suite is upstairs. There are 3 bedrooms, 2.5 bathrooms in 1,762 square feet. Starting price is $293,990.

Brant Plan Rendering

The Brant floorplan is spacious and has open concept great room/kitchen as a focal point. There are 3 bedrooms and 2.5 bathrooms, the owner’s suite offers a spacious walk-in closet and spa-like bath. The 2,004 square foot home has a starting price is $306,990.

If you are interested in a sophisticated yet casual home in Parkside, give us a call at (704) 525-4045. You can also view current listings on our website here.

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