April 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 March rose 11.5 percent, with 3,965 properties sold compared to 3,557 properties sold in March 2016. Sales were up 54 percent compared to February 2017.

The average sales price ($271,351) increased 10.4 percent compared to the average sales price in March 2016 ($245,800).  The median sales price ($220,950) increased 11.6 percent compared to the median sales price in March 2016 ($198,000).

The average list price in March 2017 ($338,770) increased 9.4 percent compared to March 2016 ($309,599), bringing the percent of original list price received measure to 96.9 percent, a slight increase of 1.4 percent compared to the same period last year. Pending sales counts rose 16.2 percent and totaled 5,116 during the month of March 2017, compared to 4,404 pending sales last March.

2017 Association/CarolinaMLS President Roger Parham said, “The spring selling season is definitely off to a good start with sales up 11 percent and homes selling almost as quickly as they’re listed. Buyers are still challenged with low inventory across the region, which means price increases and multiple offer situations can happen.”

New residential listings (5,999) increased 6.2 percent in March 2017 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 20.3 percent compared to March 2016, leaving the CarolinaMLS region with 2.4 months of supply of inventory, or 9,212 properties for sale at report time.  A year ago in March 2016 the region had 11,562 properties for sale, or 3.3 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 104 days, which is 18 days less time on market than March 2016.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 55 days, which is 14 days less time on market than last March. 

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 9,300 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 11,000 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: 4/10/2017