Greater Charlotte Area Real Estate & Community News

Dec. 1, 2020

Is Charlotte For Me?

Coming to you today to talk again about our amazing community! Last month we talked about why we do what we do, and to put it simply, it’s because we want to build a better place to call home for all of you. 

 

So, this month, let’s dig a little deeper into these communities all around us! 

 

 

Charlotte is home to some pretty unique areas; it truly has something to offer anyone and everyone looking to relocate. Below are just a few options Charlotte has to offer for any preference. 

 

 

City living: We’ve certainly got your covered here! Stick to the heart of uptown and it’s immediate surroundings. You’ve got a mix of condo buildings, townhomes, and single family residences. All within walking distance to tons of offices, shops and restaurants. 

 

Specific areas to look in: Any of the 4 wards, South End, Dilworth, Myers Park, Plaza Midwood, Noda.

 

 

Moving to the suburbs: There are options circling the entire city like Matthews, Ballantyne, Concord, Huntersville ,Waxhaw, Fort Mill… I think you get the idea here. Again, all home types can be found in any of these cities, you’d just have to narrow down by preference for the small town feel, want more parks or more social options? We can guide you to which city may best fit your specific needs. 

 

Specific areas to look in: Ballantyne, Fort Mill, Concord, Matthews, Waxhaw, Davidson.

 

 

Lake life! We’ve got options: Lake Norman, which sits on the north-west side of Charlotte, this is the largest of our immediate local lakes. On the South-west side there is Lake Wylie, a mid-sized option,  and in between there is Mountain Island Lake which is the smallest of the three but offers lots of home options with that small-town feeling. 

 

Specific Areas to look in: Tega Cay, Huntersville, Mount Holly, Denver, Lake Wylie. 

 

 

Country living: If city life isn’t for you that’s OK. Just outside the suburbs Charlotte is still surrounded by country living. With plenty of options if you prefer mountain living, or want space to own horses, maybe even find yourself a small farm. 

 

Specific Areas to look in: Iron Station, Lancaster, Monroe, Statesville, Chester. 

 

This list is of course, just a small number of places around town to check out and doesn't even begin to mention all of the features all around, like the greenways, the U.S. National White Water Center, Crowders Mountain, the Panthers Stadium, to name a few. If you’re considering a move to Charlotte, there are so many great options to choose from, let’s talk about which place best fits you! 

Posted in Community News
Nov. 20, 2020

October Market Stats

One more month down in 2020! Often we hear about the market slowing in the fall but for October, numbers continued to hold strong. With such a tight inventory, and interest rates remaining as low as they are, we've still got plenty of competition in the Charlotte area. 

You'll see that both prices and number of sales remained steady, as did months supply holding at 1.1 again. One interesting thing we see is pending sales went up last month, meaning buyers are still out there shopping for their next homes! If you're curious to know what your house is worth you can get a general estimate with this link, or send us an email. 

 

Number of Closed Sales

1,513

Avg. Price

$419,583

Price Compared to Last Month 

.37%

Price Compared to Last Year

+ 14.4 %

Median Price

$323,000

Median Price Compared to Last Year

+ 15.2 %

Avg. Days on Market

20

Pending Sales

1,637

House Supply

1.1 Months

Avg. Mortgage Rate

2.83 %

Avg. $/Sqft

$173

New Listings

1,752

Above are market statistics for Mecklenburg County, single family homes. Statistics for your neighborhood may vary, so for more accurate data about your specific area, send us an email at Bobby@DowneyProperties.com.

Posted in Market Stats
Oct. 30, 2020

Why?

Why? 

 

Today’s blog is going to be a little different. Today we want to tell you a little bit of WHY we do what we do. Whenever someone finds out that we’re in Real Estate we get one of two questions asked…

 

1.     How’s the market? Which, we love talking about, so you may find yourself stuck in a data filled conversation about all things Real Estate! 

2.     How do you like it? To which we immediately respond with “I love it!” (For real, we all truly love it!)

 

So why do we do it? It’s simple really: To help others. 

 

Yes, it’s hard work, it’s calls late at night or bright and early in the morning, it’s planning and prepping for showings, and lots of paperwork, it’s endless market research to make sure that our client’s best interests are being looked out for. 

 

But Real Estate is so much more than just selling houses. It’s helping our clients get into their forever homes, it’s helping buyers make a good investment for their future, or moving them closer to friends and family, or work. It’s about making this transition as easy as possible for those who are selling, so they can focus on the future and their new home instead of worrying about their old ones. It’s about helping our clients find their community. 

 

We know that buying a home is the single biggest investment that most people will ever make. It’s a huge decision and it’s stressful. We want to help lessen that stress and we do that by knowing our market from not only the data side of things but also the personal side. Want to be out in the country? Or up in the hustle and bustle of the city? Prefer to live next to the parks or greenways? Or are the suburbs for you? We know the places that fit what YOU want. Our goal is to make sure that we’ve found the community that fits you.

 

We want to help build up our amazing community.

 

So now what do we do with our Downey Properties community? Now we help! As we head into the holiday season, we wanted to do something meaningful for our communities, and with COVID we know that the smaller organizations are all struggling. So, throughout November you’ll see us highlight four local organizations, all doing amazing things within our greater Charlotte community. We hope that you take a moment to read about each organization, maybe spread the word about what they are doing, and if you’d like, contribute to one (or a few) of their causes. (We’ll match any donations made) And in December we’ve got a few things up our sleeve to support local businesses, along with some ambitious goals that we know our Downey Properties sphere can help us achieve, more details on this to come. 

Posted in Community News
Oct. 15, 2020

September Market Stats

 September’s final numbers are in and you’ll see home prices remain relatively steady as we transition into fall, dipping only a little over 1% from August. 

 

As the seasonality of the market hits we should start to see things here in Charlotte slow, but only just a little. You can see indicators of a slight slowdown already with the number of both pending contracts and new listings dipping in September. One important note: we are still very much in a seller’s market with the current months’ supply sitting at just 1.1 months and the average sold price is at 98.9% of the listing price. Curious about what your home value is at currently? You can use this link from our website to get a general estimate, or just give us a call! 

 

Number of Closed Sales

1,577

Avg. Price

$418,035

Price Compared to Last Month 

-1.29%

Price Compared to Last Year

+ 19.3 %

Median Price

$322,499

Median Price Compared to Last Year

+ 13.2 %

Avg. Days on Market

23

Pending Sales

1,508

House Supply

1.1 Months

Avg. Mortgage Rate

2.89 %

Avg. $/Sqft

$171

New Listings

1,603

 

Above are market statistics for Mecklenburg County, single family homes. Statistics for your neighborhood may vary, so for more accurate data about your specific area, send us an email at Bobby@DowneyProperties.com.

Posted in Market Stats
Sept. 30, 2020

Fall Maintenance

Fall is here and with that comes pumpkin everything, cooler weather, gorgeous fall foliage

and… home projects!

 

We know that every fall you hear over and over that it’s time to do some fall clean up, like clear

out your gutters or service your HVAC system. But we also know how truly important these

little tasks are for keeping your home looking and running it’s best. Deferred maintenance can

cause a lot of problems in the home, from less efficient energy usage caused by drafty windows

and doors to potentially frozen pipes from not disconnecting hoses or clearing irrigation lines.

And the longer you wait the more expensive these problems are to fix in the long run.

Tackling a lot of these items now will help you through winter and if you can get to the yard

work now, your lawn will thank you well into spring. Not sure where to start? Don’t worry,

we’ve come up with a comprehensive list (Linked here) to help keep you on track.

As always, if you need recommendations for someone to help you with these tasks, just call us!

We’d be happy to connect you with someone.

Posted in Real Estate News
Sept. 15, 2020

August Market Stats

Hello! 

 

We’re starting a new series each month where we’ll give you a quick overview of what happened in the Real Estate market here in Charlotte. 

 

Starting off with August 2020. By now you realize that we’ve been dealing with COVID for months. This means new showing protocols, extra hoops for lending, and keeping ourselves socially distant for things like inspections and closings. It’s been interesting to say the least. One thing that has pushed through it all? The Charlotte Real Estate market! Below are some statistics from the end of August, check out the average price difference from last year… with inventory as low as it is, NOW is the time to sell. 

 

 

Number of Closed Sales

1,556

Avg. Price

$423,498

Price Compared to Last Month 

+ 1.61 %

Price Compared to Last Year

+ 17.1 %

Median Price

$330,000

Median Price Compared to Last Year

+ 13.8 %

Avg. Days on Market

27

Pending Sales

1,770

House Supply

1.1 Months

Avg. Mortgage Rate

2.95 %

Avg. $/Sqft

$168

New Listings

1,684

 

 

These market statistics are for all of Mecklenburg County, single family homes. Similar statistics for your neighborhood may vary. For more specifics about your specific area, send us an email at Bobby@DowneyProperties.com

Posted in Market Stats