Buyer Fatigue: Fact Or Fiction In Charlotte’s Real Estate Market?
CHARLOTTE, NC.– According to data from the North Carolina Realtors Association, home price increases in Charlotte are moderating and rising at a slower rate. The average home sales price at the end of August was up about 13%, while at the end of summer this time last year they were up 18.3%. Mickey Gold, the broker with Coldwell Bank, says this is in part due to buyer fatigue, people putting in offer after offer, and being rejected over and over.
“It’s gotten to the point where you can get rejected so many times; you just say you know I’ve had enough I can live here for another year; let me see what the spring brings,” Gold says.
The data also shows that the number of homes for sale in Charlotte has declined 22% compared to August last year. That means it’s even harder to find something to buy.
“I think what you’re seeing with a slow down in buyer activity potentially is really pressure from low inventory,” says Maren Brisson-Kuester, COO at HM Properties.
Brisson-Kuester says she believes the Charlotte market won’t change anytime soon.
“With people moving here every day and continuing to want to relocate their corporate entities here, there’s probably no slow down in the future anytime soon.”