Market Stats

The latest Market statistics for Charlotte and surrounding areas.

Found 17 blog entries about Market Stats.

Even as August sees a year-over-year increase in new listings, we are still experiencing an inventory shortage across the Charlotte Metro area. Experts are hopeful that the increase in inventory will stimulate more buyer interest as we move into the latter part of 2017. "While inventory remains lower than the previous year, we're not experiencing the same downward trend in contract activity that's being reported nationally," said CRRA President Roger Parham, to the Charlotte Business Journal. "Also, the recent uptick in new listings that's occurred over the last four months should help fuel buyer interest." 

Here's a snapshot of what has been going on in the Charlotte area during the month of August.

Need a little help breaking down the numbers?

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As of the end of July 2017, the median price for a Charlotte area home rose again. The increase this month was 9.8% to a new average of $236,000. In the last year, that is an increase of $21,000. Inventory continues to be low, dipping almost 20% as compared to last July. This equates to a 2.6 month supply of home for buyers. Thus, the decrease in inventory seems to be informing the higher purchase price.

If you have any questions related to this data, or are ready to list, get in touch.

 

 

 

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With the first 6 months of 2017 complete, the picture of housing in 2017 is coming together. With Charlotte and many other metro areas across the U.S. continuing to experience inventory shortages, we are seeing more of the same. Less listings, higher prices, shorter days on market, and over all, a more competitive market for buyers, and what should be a very appealing market for sellers. According to a recent article in the Charlotte Business Journal, the CRRA President Roger Parham noted, "The Charlotte market, like many housing markets across the country, is seeing a general slowdown in sales, even as mortgage rates remain low and local job creation remains steady. Fortunately, demand for homes is still strong, as seen through pending contract activity,

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The numbers are in for May and it looks like more of the same. The Charlotte metro area still faces a significant inventory crisis which is leading to stagnated sales, higher prices, and a much tighter market all around. Local inventory is down more than 20% year over year, however pending sales are up, which is something CRRA president Roger Parham, says indicates that buyers are in our market house hunting are and ready to purchase.

Here's a snapshot of what has been going on in the Charlotte area during the month of May.

Here is a closer look at what some of these numbers mean: 

  • New Listings and Inventory of Homes: While new listings are up, year over year, we're still seeing an inventory percentage of over 20%, which means that things
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Low inventory seems to be the norm in the Charlotte real estate scene these days. We are into year two of historically low inventory levels, and we're starting to see the fall out from that, as April 2017 marked the first time in almost a year (Since July 2016) that we have not seen an increase in home sales, year over year, according to the Charlotte Business Journal. There is still much to be pleased with, as home values continue to climb, and pending transactions and closings remain steady. Another great sign for the market? Builder confidence is up, which means that folks are out creating inventory where there was none to fit their needs, by purchasing new construction homes across the Charlotte Metro area. Inventory levels can shape the landscape of

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If you're a seller, you have to be pretty pleased with the way the market is shaping up. March saw an 11% increase in closings, year over year, and over a 50% increase in closings compared to February 2017. According to a report from the Charlotte Business Journal, Charlotte Regional Realtor Association (CRRA) President, Roger Parham, says the spring selling season is off to a great start, with homes selling almost as soon as they are listed. So what does that mean for buyers? Inventory is still very low, down 20% compared to this time last year. That means more buyers are facing multiple offer situations as demand continues to far outpace the supply. 

Here is a look at how our local market is performing, in comparison to the same time last year. 

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2017 looks to be taking a new approach to housing this year. Year-over-year new listings were up 14.8% for February, however inventory levels are still low, down 21.4% compared to the same time last year, when we began to notice these historically low levels. "2017 is off to a good start with the momentum we experienced at year-end continuing into January, with sales up 15% and buyer demand up 21%," the association's president, Roger Parham, said, according to a story in the Charlotte Business Journal this morning. He also noted that buyers might continue to experience some of the similar pains as last year, as we continue to see low levels of homes on the market, however, many experts say that builder confidence is up, so we may see an uptick in new

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The first month of 2017 is in the books, and it looks like we're still facing a few of the challenges we faced in 2016. Inventory levels are still low in many areas which causes homes to sell much faster, with multiple offers, and sometimes for higher than listing price.  According to the Carolina Regional Realtor Association, (CRRA) in their Monthly Indicators Report, "Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase."

Here is a closer look at what was going on

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Happy 2017!

The real estate market in the Charlotte area is still hot, hot, hot, especially if you’re a seller. What trends are we seeing for real estate this year, and what do they mean for you?

“Surban” Development

Yeah, you read that right. We’ve written recently about an uptick in M.U.D. developments, but there’s something else afoot. Experts are calling it Surban – obviously a hybrid between “suburban” and “urban” and it’s basically the idea of dense, walkable communities in the suburbs. As more people look towards the suburbs for affordable, safe housing options, we’ll continue to see much of the mixed-use development growth a little farther from town.

Millennial Buyers

Millennials are finally back in the housing game. The

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Another year is under our belt, and 2017 is already off and running. With inventory levels still low in many areas across the country, including the Greater Charlotte area, most experts expect housing prices to continue to climb until more sellers enter the market to help balance out the supply and demand. According to the Carolina Regional Realtor Association's Monthly Indicators Report, "The overwhelming feeling about prospects in residential real estate for the immediate future is optimism. Real estate professionals across the nation are expressing that they are as busy as ever. There are certainly challenges in this market, like continued low inventory and higher competition for those fewer properties, but opportunities abound for creative and

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