Sunday, June 23, 2013 / by William Culp
This May, real estate sales in south Charlotte have broken several-year heights. According to data from the Charlotte Regional Realtors Association and calculations by South Charlotte Weekly, more homes were sold in May than any other month in the last two and a half years.
May’s total of 381 sold homes has seemingly confirmed the recent optimistic attitude of local realtors on Charlotte’s real estate market. Average home sale price rose to the second highest month average since 2011. The only month in that time to beat this May’s average sale price was June of last year.
The month of May has shown increased real estate performance in previous years as well. May of last year brought the second-highest amount of sold homes for the year, and May of 2011 was the highest of its year.
One reason for this is the depleting inventory of available South Charlotte real estate. The rate homes are being purchased in the area exceeds the rate at which new houses are becoming available. For the first time in years, many sellers are seeing multiple bids on their properties.
Things continue to look up for the market as the company MetLife announced earlier this year the movement of 1,300 to the Ballantyne area. Since this is a movement, as opposed to an expansion, relocated employees will have to move close to their new job location. This injection of buyers prompts a further optimistic view of South Charlotte real estate, especially for those looking to sell.