The natural ending point that is each December gives way every year to the optimism of January. This is particularly pronounced when the economy is strong and economists across the land are predicting increases in both prices and home sales. Granted, there has been some measured language surrounding the positive thinking. Although we are looking forward to a mostly decent year in real estate, it should be the kind of activity akin to a sure and steady life being lived rather than the jolt of a lottery win, which is just the way we want it.
New Listings in the Charlotte region decreased 5.9 percent to 3,733. Pending Sales were up 13.0 percent to 3,356. Inventory levels fell 23.9 percent to 10,350 units.
Prices continued to gain traction. The Median Sales Price increased 7.8 percent to $179,500. List to Close was down 7.6 percent to 121 days. Sellers were encouraged as Months Supply of Homes for Sale was down 31.8 percent to 3.0 months.
Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Unemployment is solidly about the same, housing metric trends are running about the same for now and the sunny outlook is still at about high noon. Same is the sound of 2016, so get curled up and comfy with the song, because we are likely to sing it a lot this year.
All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association
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