It’s hard to believe that Q1of 2017 is already over

It’s hard to believe that the first quarter of 2017 is already over! A lot of times, the 1st quarter of a year can be a strong indicator of how the rest of the year in the real estate market plays out. One of the first things that people always ask when they learn I’m a Realtor® is “How’s the market!?”. Let’s dive in.

Real estate has always been local in nature, so we must look at individual areas. We all love to look at stats, so let’s take Fort Mill, SC to start with.

Fort Mill & Tega Cay, SC (29708 and 29715 zip codes)

Total Homes Sold: 169   (2016 – 145)

Average List Price: $371,916 (2016 – 358,593)

Average Sales Price: $366,259 (2016 – $351,888)

Average List to Sales Ratio: 98.4%  (2016 – 97.88%)

Highest Sales Price: $1,247,715 (2016 – $881,437)

Top 3 Active Neighborhoods:

Baxter Village: 14 homes sold (2016 – 4)

Waterside at the Catawba: 11 homes sold (2016 – 5)

Bridgemill: 7 homes sold  (2016 – 5)

South Charlotte, NC (28277 zip code)

Total Homes Sold: 170  (2016 – 163)

Average List Price: $429,808 (2016 – $411,991)

Average Sales Price: $420,073 (2016 – $399,382)

Average List to Sales Ratio: 98.1% (97.32%)

Highest Sales Price: $1,175,000  ($1,300,000)

Top 3 Active Neighborhoods:

Stone Creek Ranch: 12 homes sold (2016 – 9)

Raintree: 6 homes sold (2016 – 3)

Thornhill: 6 homes sold (2016 – 6)

Waxhaw/Weddington (28173)

Total Homes Sold: 138 (2016 – 109)

Average List Price: $493,475 (2016 – $437,669)

Average Sales Price: $476,869 (2016 – $425,669)

Average List to Sales Ratio: 97.31% (96.93%)

Highest Sales Price: $1,800,000 (2016 – $1,824,822)

Top 3 Active Neighborhoods:

Millbridge: 20 homes (3 homes)

Lawson: 12 homes (13 homes)

Hunter Oaks, Inverness on Providence, Shannon Vista: 5 homes (3, 0, 1)

Generally speaking, the market is in an upswing from last year. Our inventory is increasing and prices are rising which is good for all sellers. Another factor to consider is interest rate. The Fed just recently raised interest rates again. This may deter sellers from selling as they may have purchased when interest rates were 1% – 1.5% lower – which can factor into a decision to sell. However, we all know that selling your home is oftentimes out of a necessity rather than a calculated investment. Although considering home prices are rising, it may be worth it to sell!

If you’re considering a move in the Charlotte Metro area, the Andy Bovender Team’s roster of expert agents is here to help. Feel free to contact us for answers to any questions about selling or buying that you might have.

About the Author | Jon Darcey

Jon Darcy

Jon Darcy

Operations Manager

Jon began his Real Estate career in Charlotte in 2000 right after graduating high school and has not doubted that decision once. Beginning with a top sales producer at an international firm, Jon learned the “ins and outs” of the business. While under this apprenticeship, he learned to hone his skill set to help buyers and sellers navigate the biggest financial decision of their life.
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