MINT HILL, NC – While there has been a pandemic going on, you might not think there was if you look at the Charlotte / Mint Hill real estate market. It has been so hot, it’s hard to believe a pandemic has been gripping our nation.
Home prices have been on the rise due and lower interest rates have man potential buyers seeking new homes. However, the inventory has been low, but this has just made the market even hotter.
With the election in the rear-view mirror (at least the voting part) it’s time to assess the future of the Charlotte /Mint Hill real estate market. Will it remain hot or will it cool off in 2021? What might happen with the inventory and will interest rates remain low?
Nobody can predict with certainty what will happen, but there are some things we can look at to make educated guesses about the Charlotte / Mint Hill real estate market.
The Current Upside for the Market
One of the biggest upsides for the Charlotte / Mint Hill real estate market right now is the lower interest rates. Lower rates make it easier for buyers to enter the market. This has caused the market across the country to remain pretty hot, overall. The Charlotte / Mint Hill market is no different. It’s hot and will likely remain hot due to lower rates.
Will the Market Cool Off Anytime Soon?
Depending on what you consider soon, most experts think the Charlotte / Mint Hill real estate market will remain hot until about 2023, maybe a bit longer. Of course, this could change over the next couple of years, but if the existing sales across the country hit 7 million in the next year, the market could remain very hot until 2023 before it cools off.
Supply and Demand Going into 2021
Right now, demand is very high and supply isn’t so high. Many sellers have not listed their homes due to the pandemic, but buyers are still looking.
Come spring 2021, this could flip with more sellers entering the market and the number of buyers going down a bit. This could cause the market to cool off a little bit, but demand should still remain very high.
If you’re a homeowner and you’ve been thinking about selling your home, now is the time. The market is great for sellers right now with so many buyers out there. It’s possible you could reap the benefits of a bidding war or sell your home very quickly in the current real estate market in Charlotte.
Overall, it’s likely the Charlotte / Mint Hill real estate market will remain hot for another two years, or longer. It’s very hot right now and even a small cool off will keep the market blazing hot.
I would love to be part of your journey when the time is right for you. If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. I will help you make the right move! Anna Granger 704-650-5707 | firstname.lastname@example.org | www.1stchoicepropertiesinc.com