2/09/2016

Contact: Kim Walker

Contact Phone: 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 January home sales decreased 10.6 percent, with 2,039 properties sold in January 2016, compared to 2,280 properties sold in January 2015.  Sales are down 32.2 percent compared to December 2015.

The average sales price ($229,766) increased 7.3 percent compared to the average sales price in January 2015.  The median sales price ($179,500) increased 7.8 percent compared to the median sales price for the same period last year (January 2015).

The average list price in January 2016 ($291,220) increased 9.9 percent compared to January 2015 ($264,896), bringing the percent of original list price received measure to 94.7 percent, which is an increase (1.5 percent) compared to the same period last year. Preliminary pending sales counts for the month of January 2016 totaled 3,356, an increase of 13.0 percent over last year at this time (2,970).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “Lower sales activity is not unusual coming off the holidays, and our recent run of bad weather might have had an impact as well, along with persistent low inventory. However with pending sales up 13 percent, we know that buyers are still being drawn to the market.”

New residential listings decreased 5.9 percent in January 2016 compared to January 2015.  Inventory declined 23.9 percent compared to January 2015, leaving the CarolinaMLS region with a 3.0-month supply of inventory with 10,350 properties for sale. The region’s supply at the beginning of 2015 was higher at 13,607 properties for sale, or 4.4 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 121 days, which is 10 days less time on market than January 2015.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 66 days, which is 11 days less time on market than last January. 

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 7,900 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 9,300 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: 2/9/2016