March 10, 2017

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 February were up slightly (0.5 percent) with 2,570 properties sold compared to 2,557 properties sold in February 2016. Sales were up 3.2 percent compared to January 2017.

The average sales price ($243,383) increased 5.9 percent compared to the average sales price in February 2016 ($229,856).  The median sales price ($199,000) increased 10.2 percent compared to the median sales price in February 2016 ($180,525).

The average list price in February 2017 ($321,674) increased 6.6 percent compared to February 2016 ($301,899), bringing the percent of original list price received measure to 96.3 percent, a slight increase of 1.4 percent compared to the same period last year. Pending sales counts rose 18.4 percent and totaled 4,229 during the month of February 2017, compared to 3,571 pending sales last February.

2017 Association/CarolinaMLS President Roger Parham said, “With prolonged low inventory situations, sales are typically slower, but pending contract activity, which is an indicator of buyer demand and future sales, continues to be strong. However, the good news this month is in listing activity, which is up nearly 15 percent and shows us sellers are gaining confidence.”

New residential listings (4,702) increased 14.8 percent in February 2017 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 21.4 percent compared to February 2016, leaving the CarolinaMLS region with 2.3 months of supply of inventory, or 8,807 properties for sale at report time.  A year ago in February 2016 the region had 11,210 properties for sale, or 3.2 months of supply.  This is unchanged compared to December 2016 and January 2017.

The average number of days a property was on the market from the time it was listed until it closed (list to close) was 112 days, which is 14 days less time on market than February 2016.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 57 days, which is 14 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 2017 Association/CarolinaMLS President Roger Parham, please contact Kim Walker.

The Charlotte Regional Realtor® Association is a trade association that provides its more than 9,100 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 10,600 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: 3/10/2017