Charlotte NC Real Estate Market - April 2024 - Charlotte NC Housing Market

Charlotte NC Real Estate Market - April 2024 - Charlotte NC Housing
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About Sasa Mujanovic:
Hey, my name is Sasa Mujanovic, I'm a licensed Real Estate Agent with COMPASS in Charlotte NC. I'm here to answer any questions you might have about Relocating to Charlotte NC or Buying & Selling a Home in the Charlotte area. Call/Text/Email me anytime I'm happy to help with your transition! #realestate #sasaMMarketexpert #realestatemarket

[@paulmoore3280]

Brother the Fed isn't going to cut interest rates anytime soon. We're looking at March 2025 at the earliest. Inflation isn't going down so the Fed couldn't justify a rate cut.

[@c.c1038]

Many investors are pulling back on purchasing and will be selling in Charlotte. I think they bit off more than they could chew which is good for everyone. I'm seeing sale prices in certain areas are 5% down so far. As more apartments are built it should help with home prices significantly too.

[@SasaMLivinginCharlotteNC]

With the rates it’s hard to justify for some investors but they are definitely still out there buying. Not as much as when the rates were low but enough. Certain areas definitely have price declines, that’s why it’s important to focus on specific neighborhoods instead of general area or zip code. Deals are out there, just need to be quick.

[@c.c1038]

Very true. That's what time telling my buyers and I'm bringing sellers back to earth on prices. Thank goodness most of them so far understand it's not 2020 anymore. I would suggest people focus on certain areas too. Flip properties are the ones with the most offers.

[@SasaMLivinginCharlotteNC]

@@c.c1038 Agreed!

[@toddholland5612]

I've been waiting for 3 years now. Forget the rates, the prices are ridiculous.

[@SasaMLivinginCharlotteNC]

They are definitely almost at the peak we had before but now instead of a home getting 30+ offers they are getting around 5 quality offers. Still have a long way to go to get to a more normalized market and prices. We’ll see how it plays out month by month.

[@robertkelley198]

Same. We are getting closer.

[@mjoevarun1]

The fact that fed is keeping interest rate high is very good thing. If you saw supply is less than that is case for demand so in net it tallies . Most people who sell house will either upgrade or downgrade. So that naturally does not help. But what will help is once only first time owners remain in the market and then prices will start coming down as wage hikes have stopped and there is downward pressure coming from companies. Save your money wait for election to get over than you will see real pressure in economy to showcase

[@brandongary3594]

I think it depends on what neighborhood you want to move into. You're just not seeing prices come down the closer you are to Charlotte city center. I've talked to some of my newer neighbors and while banking is one of the larger employers, there are literally people moving here for tech and not seeing COL adjustments. Also Charlotte is seeing an influx of film/television employees moving here. The market is just hot. That said I don't think you captured the type of homes being sold as new, they're all either townhomes or duplex homes. Most builders won't build you a single family home close to the city for less than $1.4m which is double the price of when I got in. There are lots of factors here.

[@8dholland]

I am a transitioner. I have to move this summer out of my despicable rental. Invitation Homes did it to themselves trying to tell me what to do. So, I ended up paying 600 dollars more a month to get a house. Not my ideal situation, but I'm out of this rental game. I ended up buying from an Ibuyer because the price was 10k to much for most people.

[@3VJohnny]

The conclusion I've come to with everything is just buy it when you can if it works for you. Everything is permanently distorted now. Lots of really bad decisions out there, but this has gone on way longer than I first thought. Just don't have to partake if it doesn't fit your budget. People are still bidding up assets. I also see "no one has money." Yet I see lots of home work being done in the surrounding neighborhoods.... Landscape projects, exterior work. All this spring so far

[@SasaMLivinginCharlotteNC]

110% agree, if you want to buy and can do so comfortably do it. If you’re stretching yourself and worried about the payment just rent for a while and put yourself in a better position in the future. That’s what I mean, so much conflicting info out there, people living off credit cards and no one has money but the malls are packed, restaurants need 1-2 week reservations, it’s all weird lol

[@JC-nl3nh]

lot of grants from the government as well as people using HELOCs

[@BrianPowell-bb1un]

Quick comment on your recoding setup- it looks odd that you are looking at an upward angle in the video. You should probably either raise your chair height or lower your monitor height so your head appears equal level speaking to viewers

[@robertficek7586]

That may be how property taxes work in some municipalities but not true everywhere. In Canada, homes get accessed every few years and the value goes up based on nominal inflation and is not necessarily proportional to the market value, also most of the property tax paid is used to fund public education in the area the house is located so education funding plays the biggest necessity. Older resale homes selling at 1.2M built in the 80's are paying 2024 property tax based on accessed values from 2016 of around 550k. So owners dont get shocked from one year to the next.

[@proudtobe9932]

The banks are messing things up down there alot !!!!!

[@proudtobe9932]

When u print more money we are in trouble !!!

[@proudtobe9932]

We pay for 2 cars 2008 year for 600 dollars in nyc !!!!

[@proudtobe9932]

Im looking to rent not buy in charlotte nc right now !!!

[@proudtobe9932]

New cars and car accidents are raising all things !!!

[@paulwillisorg]

Thanks Biden

[@mitya6568]

I missed 2021 home prices, now i am doomed. Greets from Slovenija

[@EMPTORADVOCATE-gt4rb]

Interest rates have nothing to do with anything it is the prices overinflated.People are not going to be able to refinance sorry,

[@SasaMLivinginCharlotteNC]

You’re right, interest rates have nothing to do with the housing market…

[@paulmoore3280]

Lol. That's BS. Interest rates have a lot to do with mortgage loan interest rates. The lower the better it is for buyers. The higher it is causes the interest rate on mortgages to increase which has a significant effect on how many people will buy. 7% is much higher than we as Americans have been accustomed to so it's definitely part of the reason that home purchases are down. That trend will continue into 2025 with the possibility of another rate increase due to stubborn high inflation.