June 10, 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 5 percent with 4,026 properties sold in May 2016 compared to 3,836 properties sold in May 2015.  Sales are up 11.4 percent compared to April 2016.

The average sales price ($257,866) increased 3.2 percent compared to the average sales price in May 2015 ($249,826).  The median sales price ($209,900) increased 5 percent compared to the median sales price in May 2015 ($200,000).

The average list price in May 2016 ($321,223) increased 10.7 percent compared to May  2015 ($290,264), bringing the percent of original list price received measure to 96.8 percent, which is an increase (1.4 percent) compared to the same period last year. Preliminary pending sales counts for the month of May 2016 totaled 4,989, an increase of 21 percent over last year at this time (4,123).

2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “The CarolinaMLS region continues to post steady sales, despite challenges buyers face with limited inventory, price increases and shortened days on market.  We are reassured by the small but steady increase in new listings over the past four months, which should help to improve the inventory picture as we head into summer.” 

New residential listings increased 4.5 percent in May 2016 compared to last May.  Inventory declined 25.4 percent compared to May 2015, leaving the CarolinaMLS region with a 3.0-month supply of inventory with 10,880 properties for sale. Notably, inventory in May increased 3.5 percent when compared to the inventory at report time in April 2016, which represents four consecutive months of increases. Supply this time last year was higher with 14,582 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 105 days, which is eleven days less time on market than May  2015.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 53 days, which is 14 days less time on market than last May.

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 8,500 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 9,800 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: 6/10/2016