Charlotte real estate market gains strength in second half of 2019; local housing demand outpacing new inventory supply

Charlotte real estate market gains strength in second half of 2019; local housing demand outpacing new inventory supply

After major announcements in June by Lowe’s, Krispy Kreme and BB&T/SunTrust of major corporate moves to Charlotte, the local real estate market kicked into high gear with the number of home sales increasing nearly 10% year-over-year from July to November. As a result, home buyers had to pay more and be less picky with fewer homes on the market. Inventory declined nearly 6% year-over-year and single family new construction permits dropped nearly 3%.

These market conditions (high demand and low supply) combined with a year-over-year median home sales price increase of 5.6% caused the predictable hand-wringing about housing affordability around the city. However, the National Association of Realtors ranked Charlotte as one of the country’s most improved markets for housing affordability. Also, the average home sales price in Charlotte increased by an average of just 2.5% per year since 2008. 

Want to know more? Register for an account on our website to receive future issues of the Confidential. It’s free, and you can opt out at any time.  Cheers! 

MECA Realty is now Carver Pressley, REALTORS®

MECA Realty has long been identified with property management in Charlotte, NC. In an effort to create more clear separation between MECA's property management and residential sales operations, the sales division became a separate company in July 2019 with a new brand identity - Carver Pressley, REALTORS®. The new firm represents the combining of forces between Dac Carver and Andy Pressley.

Dac is a 25-year veteran of real estate sales and marketing, most recently as the leader of the top-selling office in the Buckhead area of Atlanta. Andy and his family have operated MECA Realty since 1975 and Andy is a life-long Charlotte resident. Andy and the Pressley family played a significant role in the re-development of South End, which has become the hottest neighborhood in Charlotte - if not the Southeast.

Carver Pressley, REALTORS® will focus on delivering exceptional results to its clients on a fun, personal level. The firm will be known for a sales team that is professional and knowledgeable while backed by thoughtful analysis and guidance as well as beautiful, highly effective marketing.

For more information about becoming a client or an agent with Carver Pressley, REALTORS®, email us at sales@carverpressley.com.