Homes sales in January fell by 10.6% in the Charlotte metropolitan area over January 2015 according to the Charlotte Area Realtors Association. The main reason for the drop is the lack of inventory. Inventory of available homes in Mecklenburg county is at a 1.9 month supply, compared to a 3 month supply in January 2015. A stable market is considered to be a 6 month supply, anything below that is considered to be a seller’s market. The median sales price increase of 7.8% over last year support this fact.

But what does mean for the average home seller? Will buyers come beating down the doors once the home is on the market? Some home sellers seem to think so, and are pricing their homes high with little preparation or upgrades. These homes are generally sitting on the market. While inventory may be low, many buyers are willing to wait for the right house at the right price.

From our Sold listing in Ardrey. Photo courtesy of Cal Mitchner.

Homes in high demand areas that are properly prepped for sale are going under contract very quickly, sometimes with multiple offers. What do we mean by properly prepped? Clean, neutral paint, free of clutter, including rooms with too much furniture, and updating light fixtures. These are things that won’t break the bank but make your home attractive to buyers.