5/09/2016

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 April home sales rose 3.1 percent with 3,613 properties sold in April 2016 compared to 3,503 properties sold in April 2015. Sales are up 11 percent compared to March 2016.

The average sales price ($251,284) increased 5.9 percent compared to the average sales price in April 2015 ($237,222). The median sales price ($202,000) increased 6.3 percent compared to the median sales price in April 2015 ($190,000). The average list price in April 2016 ($325,408) increased 11 percent compared to April 2015 ($293,228), bringing the percent of original list price received measure to 96.3 percent, which is an increase (1.4 percent) compared to the same period last year. Preliminary pending sales counts for the month of April 2016 totaled 5,160, an increase of 21.1 percent over last year at this time (4,261).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “Though supply continues to be a challenge across the region, we’re somewhat reassured by the three consecutive months of improvement with inventory and the small bump up in new listings. Though small, these increases will help buyers with selection. However, buyers still need to be aware that this current housing environment is ripe for multiple offer situations and price increases.”

New residential listings increased 2.6 percent in April 2016 compared to April 2015. Inventory declined 26.6 percent compared to April 2015, leaving the CarolinaMLS region with a 2.9-month supply of inventory with 10,513 properties for sale. However, inventory in April rose 3.6 percent when compared to the inventory at report time in March 2016, which is the third consecutive month of increases. Supply this time last year was higher with 14,330 properties for sale, or 4.4 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 113 days, which is five days less time on market than April 2015. Days on Market, the metric that accrues for “Active” and “Under Contract- Show” statuses only, totaled 61 days, which is eight days less time on market than last April.

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 8,200 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 9,600 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: 5/9/2016