Whether you are looking to buy, sell or invest, knowing the current real estate market trends is vital to making wise decisions for your real estate future. In March, Henderson Properties reported that Charlotte was experiencing a seller’s market. Has this trend held true through the summer selling season? The answer is yes.

Prices Continue to Rise
In Charlotte, prices have risen steadily during the spring and summer selling seasons. In fact, the average sales price from April to June of 2014 was $210,000, up $3,000 from the same time last year, and prices have continued to increase into July. This means the market is continuing to be one that favors sellers.

Part of what has contributed to this rise is the improvement of the real estate market, yet it is the drop in the number of foreclosed and distressed properties that is creating the most significant changes. As fewer foreclosures and short sales impact the market, prices are pushed higher.

Number of Sales Decreasing
While the prices are trending in favor of sellers, some trends are shifting towards buyers. As prices increase, buyers are less quick to purchase properties, and the number of sales has decreased by 16 percent over this time last year. The average days on market has also increased slightly, with an average of 62 days today compared to 54 a year ago. This is still fairly fast in light of other markets.

How These Trends Affect Sellers
What does this mean for sellers? Buyers who are paying more for houses are more choosy about the houses they buy, so sellers need to focus on properly staging their homes to get the most for them and sell quickly. When a property is properly staged and priced competitively, it will likely sell quickly and for a good price.

No matter what side of the real estate process you all on, you need to know your market. The Charlotte real estate market is one where homes are selling for a good price and in a relatively short period of time, which is good news for everyone!