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Real Estate in Mooresville NC - Sept. Update
“Housing prices strong”. “Housing prices stable”. “Housing values fall”. “Signs of growth in the housing market”. “Housing bubble bursts?”. These are all examples of headlines I have read in the papers and online over the summer months. It’s clear why there is mass confusion on the current housing market performance.
As an expert in the local market, I have done a lot of research on the market conditions and I have day-to-day experience in the market activity. My words to describe the market…. It depends!
Clearly, real estate is local. Activity in Nevada, Arizona, Florida and California cannot be compared to activity in the Carolinas. For that matter, activity in Raleigh or Greensboro cannot be compared to Charlotte. Driving deeper, activity in south Charlotte cannot be compared to activity around Lake Norman. Indeed, activity in one subdivision or price point in our region cannot be compared to another even in the micro market.
Some communities are experiencing strong sales and balanced markets, particularly in the price point of $150,000 - $300,000. These communities are maintaining value and in some cases, seeing appreciation. Other communities locally are imbalanced with supply significantly exceeding demand. These communities will see some depreciation until the demand meets supply. If you want to know more about your market and the value of your home in this evolving market, please call me or e-mail me.
The great news … the Carolinas have thrived as compared to the national market. Overall activity is down as compared recent years, but Allen Tate sells nearly 60 houses per day in our firm. Our region was the last to participate in the national market softness and I fully expect we will lead the nation into the balanced market that provides health to the economy. We will see the extreme activity of 2005 and 2006? Probably not in the short-term, but that’s OK. A healthy, balanced market is better for us all!
Let’s Talk!