Home prices in Charlotte are on a steady rise, increasing nearly 12% in December 2017 when compared to the 2016 numbers, according to new reports. That's not all, experts say the prices won't be falling any time soon.
"The median price for a home sold in December was $235,000, compared to $210,000 in December 2016. The average sale price, another measure, rose 8.4%, to $281,567," according to National Mortgage News.
"In an indication of how little inventory there is for sale, the number of houses on the market in the Charlotte region plunged by more than 19%, ensuring that prices will stay high for the foreseeable future."
Jason Gentry, Charlotte Regional Realtor Association president told NMN that price increases and "faster days on the market" could go hand-in-hand. Even more pertinent to the mortgage industry is the fact that there could very well be a spike in mortgage rates as well.
To learn more about the current price hikes in Charlotte, click on the image above.