October 7, 2016

Contact: Kim Walker, 704-940-3149

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

CarolinaMLS home sales in September held steady, rising 3.2 percent over September 2015 sales with 3,839 properties sold compared to 3,721 properties sold in September 2015.  Sales were down 8.8 percent compared to August 2016.

The average sales price ($256,377) increased 7.2 percent compared to the average sales price in September 2015 ($239,232).  The median sales price ($207,000) increased 9.1 percent compared to the median sales price in September 2015 ($189,750).

The average list price in September 2016 ($302,178) increased 7.2 percent compared to September 2015 ($281,985), bringing the percent of original list price received measure to 96.2 percent, an increase of 1.1 percent compared to the same period last year. Pending sales counts rose 18.3 percent and totaled 3,899 during the month of September 2016 compared to 3,296 pending sales last September.

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “As we look ahead into fourth quarter, we expect sales to continue to hold steady, even though there could be the possibility of some cooling across the market as we head into the time of year when consumers become less focused on buying and selling.”

New residential listings (4,494) increased 2.6 percent in September 2016 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 22.1 percent compared to September 2015, leaving the CarolinaMLS region with a 3.0-month supply of inventory, or 11,045 properties for sale. Supply this time last year was higher, with 14,174 properties for sale, or 4.2-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 99 days, which is 13 days less time on market than September 2015.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 47 days, which is 14 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 2016 Association/CarolinaMLS President Maren Brisson-Kuester, please contact Kim Walker. 

The Charlotte Regional Realtor® Association is a trade association that provides its more than 8,900 Realtor® members with the resources and services they need to conduct ethical, professional, successful and profitable businesses. The association is dedicated to being the region's primary resource for residential real estate information. The association operates the Carolina Multiple Listing Services, Inc. (CarolinaMLS), which has more than 10,300 Subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a multicounty service area, including Charlotte, the Piedmont area of North Carolina and South Carolina, and beyond.

Original Publish Date: 10/7/2016