Is It Still a Seller's Market in Charlotte, NC?
In recent years, real estate has become more expensive in almost all areas of the country. Many regions are experiencing a prolonged seller's market, since there are more people looking to purchase than sell. But what about Charlotte real estate? Today, we'll have a look at the current state of the Charlotte, NC property market and what the implications are for buyers and sellers.
What Is the Charlotte Real Estate Market Like Right Now?
For many decades, real estate in Charlotte has been in demand. There are more buyers than sellers, so homes can get very expensive. In fact, experts estimate that there are currently only two weeks' worth of inventory left, which is the lowest level in 17 years. The primary reason for this seller's market is that many people from other areas are moving to Charlotte.
Unlike some of the larger cities, Charlotte offers a small-town feeling while still providing residents with exciting opportunities such as a vibrant restaurant scene, great outdoor events, and an excellent school system. What's more, the city is host to eight Fortune 500 companies, making it a great location for career-driven individuals.
What Does This Mean for Sellers?
For sellers, current market conditions are excellent. Days or weeks after you put your home on the market, you can expect several high-quality offers. What's more, many properties now sell at or above the asking price. However, selling your home could still be a hassle. Even though there are many buyers, you'll still have to update your home, create marketing materials, and arrange several viewings.
If you're in a rush and don't have the time or funds to go through the sale process, you should consider partnering with Better Path Homes. We buy all kinds of houses, even ones that are distressed or in need of upgrading. When working with us, you can expect to receive your money in two to three weeks, although we can close within three days if necessary.
What Does This Mean for Buyers?
At first glance, a seller's market doesn't seem great for buyers. At an average of $370k, homes in Charlotte are 8.8% more expensive than they were last year. But while you might have to pay a lot initially, you can soon reap the benefits of your investment. Since the area is so popular, you can expect your property to increase in value over the next years. If you ever want to sell it on, it's likely that you can make a profit.
What's more, there are ways of purchasing homes at below-average prices. Sometimes, sellers are in a rush to get rid of their house because they need the money quickly. In such a case, they may be willing to accept a lower price than they otherwise would. If you're interested in purchasing a distressed property, join the Better Path Homes investor newsletter. We can let you know whenever there are new properties for sale.
How to Easily and Quickly Sell a Home in Charlotte, NC
If your home is distressed and you can no longer pay for your mortgage, reach out to us. We will ask you some questions about the property and, if we believe that it is a good fit, we can arrange a viewing. Our experts will walk through the home with you to see what repairs are necessary.
Since we purchase properties as-is, you won't have to do any repairs. You can sell to us even if there is a tenant living in the building. In most cases, we can give you a quote instantly or within 24 hours. As soon as you accept it, we will take the documentation to our lawyer and ask them to draw up the contract. Because we want the transaction to be mutually beneficial, we won't charge you any fees.
How to Purchase a Refurbished or Newly Built Home at a Low Price
People who want to buy an average house in Charlotte with a 20% down payment need to save up more than $70k. This is an unrealistic amount for many people, but there are alternatives. By opting for distressed property, you can save 10% or more, and you can remodel the home to your liking.
But buying a fixer-upper can be risky, especially if you don't have the necessary experience to determine whether a house is structurally sound. The best option is to work with a company like Better Path Homes. By inspecting each house before selling it on, we make sure that you get maximum value for the money spent.
Charlotte, NC is currently experiencing a prolonged seller's market because there are more buyers than homes available. While this is good for people looking to sell their homes, buyers who would like to maximize their profits will need to consider options such as distressed real estate. Get in touch with us at Better Path Homes to find out how to easily and quickly buy or sell Charlotte real estate.