If you’ve been in the business for a few years, we don’t need to tell you that we’ve gone through many years of a strong buyer’s market in most areas. But the tide seems to be turning.
As of May 1, the following popular neighborhoods in the Charlotte area have fewer than four (4) months inventory:
- Cameron Wood
- Beverly Woods
- Colonial Village
- Sherwood Forest
- Merry Oaks
- Stone Creek Ranch
- Cady Lake
- Jetton Cove
To put in perspective — 6 months is considered a “balanced” market, i.e. neither seller’s or buyer’s market. For most of the past 4 years or so, inventory around Charlotte was anywhere from 9-14 months or so. But suddenly, inventory is very low in a lot of areas.
What do I do with this info?
Farm, farm, farm! If there are homeowners in those areas who are even considering selling — now is a great time. Many (if not most) homeowners have no idea just how much the real estate market has changed in the past year. The agent to deliver this news may very well be the one to get the listing(s).
And don’t forget that our IDX service comes with an “Absorption widget” that you can put on any website. This allows you & your clients to see inventory stats for any neighborhood in the Charlotte metro.