I recently am helping someone seeking a home in the very low price ranges in Charlotte. As I searched for listings (homes under $60,000) I was pleasantly surprised to see 50% of the homes under contract. This indicated that 50% of the homes went under contract within the past month! The typical closing in North Carolina is from 30 to 45 days and this is where I draw this assumption.
That is incredible! If half of the homes are under contract then it will not be long until the remainder of these homes are no longer available. My buyer is a cash buyer looking for their own home. That is exactly what these neighborhoods need. The neighborhoods in this price range are largely rental neighborhoods and not well maintained. Hopefully the majority of the remaining buyers are also home owners. Things continue to look up in Charlotte!
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