The amount of Charlotte NC real estate inventory is a measure of how long it would take to clear all of the available homes for sale from the market.
It’s based on the recent home sales pace compared to the amount of active listings and the simplest explanation is that it’s a comparison of Supply (active listings) to recent Demand (sold activity).
Real estate inventory is a frequently used real estate market indicator (I use it in my own area/neighborhood market updates) and as a general guideline:
LESS than 6 months of inventory: favors Sellers
Around 6 months of inventory: Balanced
MORE than 6 months of inventory: favors Buyers
It can be calculated for areas (such as a specific mls region), price ranges (100s, 200s, 300s, etc) or even for a specific Charlotte NC area neighborhood.
Of course the real estate inventory is just one Charlotte NC real estate market indicator and when it comes to any specific house or real estate listings there’s ALWAYS more to evaluate but it is a general snapshot of how high (or low) supply is for whatever area/price/neighborhood it’s based upon.
As an example….an elevated real estate inventory would mean more Options for home Buyers, more Competition for home Sellers
Copyright©2011 by Diane McDermott, All Rights Reserved, “What Does the Amount of Real Estate Inventory in Charlotte NC Mean?”
The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC