This Week in Charlotte Real Estate

Dated: 02/22/2019

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A couple highlights from this week:

BB&T & SunTrust are merging to form what would be the 6th largest bank in the US. BB&T is currently based out of Winston-Salem NC and SunTrust out of Atlanta GA. The approval process will take several months, but is expected to pass sometime in late 2019. If so, they would move their headquarters here to Charlotte. This would be a big win for the Queen City and help to attract even more talent to the region. In 2017, San Fransisco passed Charlotte to be the 2nd largest banking city in the US. Hopefully we can win back the #2 spot behind NYC. 

Housing Stats:

  • New Listings decreased 2.7% year-over-year to 1,167
  • Pending Sales increased 22.5% year-over-year to 1,085
  • Days-On-Market decreased 5.7% year-over-year to 50
  • Average Sales Price increased 1.9% year-over-year to $268K

Pending Homes Sales

Mortgage Rates:

The Feds have paused their previous plans to continue raising interest rates. In November/December, we saw rates climb up to above 5%. Right now, top tier 30yr interest rates are around 4.375%. 

On a $250,000 mortgage, a .5% rate difference is a savings of over $27,000!

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Chris Phillis

Since 2004, Chris has enjoyed assisting buyers in the home purchasing process. Explaining the particulars is something that comes natural to him. Chris has been passionate about real estate for as lon....

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