September 9, 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 recovered in August and increased 10.4 percent, with 4,209 properties sold in August 2016 compared to 3,814 properties sold in August 2015.  Sales were also up 7.9 percent compared to July 2016.

The average sales price ($271,567) increased 10.1 percent compared to the average sales price in August 2015 ($246,651).  The median sales price ($219,300) increased 10.2 percent compared to the median sales price in August 2015 ($199,000).

The average list price in August 2016 ($287,567) increased 4.5 percent compared to August 2015 ($275,117), bringing the percent of original list price received measure to 96.6 percent, which is a 1.4 percent increase compared to the same period last year. Pending sales counts for the month of August 2016 totaled 4,525, an increase of 23.2 percent over last year at this time (3,674).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “Home sales across the region bounced back on the heels of strong pending contract activity sustained over most of the summer.  Demand, as seen through steady pending contract activity, continues to show sellers that buyers are here and motivated, which means the outlook for future sales is good.”

New residential listings (5,027) increased 7.3 percent in August 2016 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 22.7 percent compared to August 2015, leaving the CarolinaMLS region with a 3.0-month supply of inventory, or 11,150 properties for sale. Supply this time last year was higher, with 14,420 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 97 days, which is 12 days less time on market than August 2015.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 46 days, which is 13 days less time on market than last August.

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 10,200 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: 9/9/2016