Charlotte Real Estate Trends for September 2017

CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association provides monthly reports on residential real estate market activity in this region based on Carolina Multiple Listing Services, Inc. (CarolinaMLS) data.

CarolinaMLS year-over-year home sales in September decreased 3.9 percent, with 3,960 properties sold compared to 4,121 properties sold in September 2016. Home sales were down 7.8 percent compared to August 2017.

The average sales price in September ($271,606) increased 6.1 percent compared to September 2016 ($256,092), while the median sales price ($225,000) increased 9.2 percent compared to September 2016 ($206,000).

The average list price in September 2017 ($316,868) increased 6.3 percent compared to September 2016 ($298,173), bringing the percent of original list price received measure to 96.7 percent, a slight increase of 0.5 percent compared to the same period last year. Pending sales counts rose 16.4 percent and totaled 4,137 during September 2017, compared to 3,555 pending sales last September.

“Ultimately, low inventory across the region continues to hamper sales while also putting pressure on prices in our market. We’re fortunate, however, to see strong pending contract activity, which means that future sales should be steady.” said Roger Parham, 2017 Association/CarolinaMLS President.

New residential listings (4,700) increased 3.3 percent in September 2017 compared to the same period last year. Inventory continued to fall, with the number of homes for sale down 17.5 percent compared to September 2016, which leaves the CarolinaMLS region with 2.5 months supply of inventory, or 10,140 properties for sale at report time. A year ago in September 2016 the region had 12,297 properties for sale, or 3.3 months of supply.

The average number of days a property was on the market from the time it was listed until it closed (list to close) was 90 days, which is nine days less time on market than September 2016. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 39 days, which is eight days less time on market than last September.

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with 2017 Association/CarolinaMLS President Roger Parham, please contact Kim Walker.