Strong buyer demand continues based on August CarolinaMLS data
September 11, 2017
Contact: Kim Walker, 704-940-3149
CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association provides monthly reports on residential real estate market activity in this region based on Carolina Multiple Listing Services, Inc. (CarolinaMLS) data.
CarolinaMLS year-over-year home sales in August decreased 3.8 percent, with 4,297 properties sold compared to 4,467 properties sold in August 2016. Home sales were up 1.2 percent compared to July 2017.
The average sales price in August ($273,549) was relatively unchanged compared to August 2016 ($270,920), only increasing by 1.0 percent. The median sales price ($230,000) increased 5.0 percent compared to August 2016 ($219,000).
The average list price in August 2017 ($300,949) increased 6.6 percent compared to August 2016 ($282,193), bringing the percent of original list price received measure to 97.0 percent, a slight increase of 0.4 percent compared to the same period last year. Pending sales counts rose 15.5 percent and totaled 4,753 during August 2017, compared to 4,116 pending sales last August.
“While inventory remains lower than the previous year, we’re not experiencing the same downward trend in contract activity that’s being reported nationally. Also, the recent uptick in new listings that’s occurred over the last four months should help fuel buyer interest,” said Roger Parham, 2017 Association/CarolinaMLS President.
New residential listings (5,394) increased 6.0 percent in August 2017 compared to the same period last year. Inventory continued to fall, with the number of homes for sale down 18.6 percent compared to August 2016, leaving the CarolinaMLS region with 2.6 months supply of inventory, or 10,153 properties for sale at report time. A year ago in August 2016 the region had 12,477 properties for sale, or 3.4 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 90 days, which is eight days less time on market than August 2016. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 42 days, which is four 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 2017 Association/CarolinaMLS President Roger Parham, please contact Kim Walker.
The Charlotte Regional Realtor® Association is a trade association that provides its more than 9,800 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 11,500 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: 9/11/2017