July 8, 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 June home sales were down 3.3 percent with 4,425 properties sold in June 2016 compared to 4,577 properties sold in June 2015.  Sales are up 9.9 percent compared to May 2016.

The average sales price ($280,499) increased 8.2 percent compared to the average sales price in June 2015 ($259,137).  The median sales price ($225,000) increased 8.1 percent compared to the median sales price in June 2015 ($208,125).

The average list price in June 2016 ($302,371) increased 10.1 percent compared to May   2015 ($274,548), bringing the percent of original list price received measure to 96.8 percent, which is an increase (1.1 percent) compared to the same period last year. Preliminary pending sales counts for the month of June 2016 totaled 4,763, an increase of 19.3 percent over last year at this time (3,992).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “With the prolonged low inventory the region has faced, some cooling in sales was to be expected.  However, the June report is still mostly positive, and with new listings continuing to increase and strong pending sales counts, the outlook for future sales is still favorable.”  

New residential listings increased 7.7 percent in June 2016 compared to last June.  Inventory declined 23.3 percent compared to June 2015, leaving the CarolinaMLS region with a 3.0-month supply of inventory with 11,145 properties for sale. Supply this time last year was higher with 14,530 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 101 days, which is twelve days less time on market than June  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 June.

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 8,600 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 10,000 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: 7/8/2016