February 10, 2017

Contact: Kim Walker, 704-940-3149

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 January continued December’s trend and rose 14.8 percent over January 2016 sales with 2,491 properties sold compared to 2,170 properties sold in January 2016. Sales were down 28.5 percent compared to December 2016.

The average sales price ($258,819) increased 12.5 percent compared to the average sales price in January 2016 ($230,026).  The median sales price ($205,000) increased 14.5 percent compared to the median sales price in January 2016 ($179,000).

The average list price in January 2017 ($307,733) increased 7.5 percent compared to January 2016 ($286,238), bringing the percent of original list price received measure to 96.0 percent, a slight increase of 1.4 percent compared to the same period last year. Pending sales counts rose 20.6 percent and totaled 3,643 during the month of January 2017, compared to 3,021 pending sales last January.

2017 Association/CarolinaMLS President Roger Parham said, “2017 is off to a good start with the momentum we experienced at yearend continuing into January, with sales up 15 percent and buyer demand up 21 percent. Although I’m reassured by the small increase in new listings, buyers will unfortunately continue to face mild headwinds with price increases, multiple offer situations and tighter supply as we move forward into the spring selling season.”

New residential listings (3,937) increased 4.7 percent in January 2017 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 25 percent compared to January 2016, leaving the CarolinaMLS region with 2.3-months of supply of inventory, or 8,639 properties for sale at report time.  A year ago in January 2016 the region had 11,513 properties for sale, or 3.3-months of supply, but supply is unchanged compared to December 2016.

The average number of days a property was on the market from the time it was listed until it closed (list to close) was 114 days, which is eight days less time on market than January 2016.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 55 days, which is 11 days less time on market than last January. 

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 9,000 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: 2/10/2017