3/09/2016

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 February home sales increased 1.4 percent with 2,345 properties sold in February 2016 compared to 2,312 properties sold in February 2015.  Sales are up 15 percent compared to January 2016.

The average sales price ($230,943) increased 4.2 percent compared to the average sales price in February 2015 ($221,690).  The median sales price ($182,000) increased 2.2 percent compared to the median sales price in February 2015 ($178,000).

The average list price in February 2016 ($313,725) increased 10.8 percent compared to February 2015 ($283,266), bringing the percent of original list price received measure to 94.9 percent, which is an increase (1.4 percent) compared to the same period last year. Preliminary pending sales counts for the month of February 2016 totaled 3,814, an increase of 22.2 percent over last year at this time (3,122).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “Though inventory challenges continue, sellers are starting to test the market, with February new listings up 7 percent compared to January. This is a trend we’d like to see continue as we head into the spring selling season.”

New residential listings were relatively unchanged, down 0.2 percent in February 2016 compared to February 2015.  Inventory declined 26.4 percent compared to February 2015, leaving the CarolinaMLS region with a 2.8-month supply of inventory with 9,935 properties for sale. Last February’s supply was higher with 13,505 properties for sale, or 4.3 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 126 days, which is 5 days less time on market than February 2015.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 72 days, which is 8 days less time on market than last February. 

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 8,100 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 9,500 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: 3/9/2016