July 10, 2018
Contact: Kim Walker, 704-940-3149
CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from Carolina Multiple Listing Services, Inc. (CarolinaMLS). The Charlotte Metro region, which this report is based on, includes 12 counties in North Carolina and four counties in South Carolina.
Charlotte Metro region year-over-year home sales in June decreased 11.9 percent, with 4,724 properties sold compared to 5,360 properties sold in June 2017. However, June’s sales compared to the previous month (May 2018) were up 4.1 percent. Closings are down 2.1 percent year-to-date when compared to the first half of 2017.
The average sales price in June 2018 ($302,177) increased 5.7 percent compared to June 2017 ($285,812), while the median sales price ($248,045) increased 2.8 percent compared to June 2017 ($241,250). Compared to the previous month (May 2018), the average and the median sales prices increased 0.8 percent and 1.2 percent respectively.
The average list price in June 2018 ($322,255) increased 4.5 percent compared to June 2017 ($308,305), bringing the percent of original list price received measure to 97.8 percent, a slight increase of 0.3 percent compared to the same period last year. Pending sales in June 2018 (5,081) rose 7.4 percent compared to June 2017. Compared to the previous month (May 2018), pending sales decreased 4.5 percent.
2018 Charlotte Regional Realtor® Association/CarolinaMLS president Jason Gentry said, “Even though the Charlotte region is wedged into a solid seller’s market, incredibly low supply coupled with higher prices and rising mortgage rates are presenting challenges to buyers. However, home sales are still occurring across the region, as buyers continue to seek homes outside Charlotte’s city limits in areas like Davidson (+20.8%), Lincolnton (+23.8%), Lake Norman (+2.7%), Concord (+2.1%) and York County, S.C., specifically in Fort Mill (+13.9%) where year-over-year home sales in June were still positive.”
New residential listings (5,932) increased 1.0 percent in June 2018 compared to the same period last year. Compared to the previous month (May 2018), new listing counts declined 6.6 percent. Inventory continued to fall, with the number of homes for sale down 17.2 percent compared to June 2017, which left the CarolinaMLS region with 9,554 properties for sale at report time, or 2.3 months of supply of inventory. A year ago in June 2017 the region had 11,537 properties for sale, or 2.9 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 85 days, which is eight fewer days than June 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 36 days, which is seven fewer days than June 2017.
About Carolina Multiple Listing Services, Inc. (CarolinaMLS):
The Carolina Multiple Listing Services, Inc. (CarolinaMLS) is a wholly-owned subsidiary corporation of the Charlotte Regional Realtor® Association. The Association provides more than 10,700 Realtors® 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 CarolinaMLS, which has more than 15,700 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 and Mountains areas of North Carolina and South Carolina, and beyond.
The following counties are considered a part of the Charlotte Metro region core service area, although CarolinaMLS does includelistings from other counties: Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanlyand Union counties in North Carolina; Chester, Chesterfield, Lancaster and York counties inSouth Carolina.
The following counties are considered a part of the Asheville region core service area: Burke, Buncombe, Haywood, Henderson, Jackson, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania and Yancey counties in North Carolina.
CarolinaMLS also serves as the wholesale MLSvendor for the Multiple Listing Service of Catawba Valley (MLSCV) and provides core services as well as training and support to its 600 subscribers; however, the MLSCV still serves as the primary MLS in the Hickory/Catawba County and Lenoir/Caldwell County areas of western North Carolina.
For more residential-housing market statistics, visit www.CarolinaHome.comand click on “Market Data.” For an interview with 2018 Association/CarolinaMLS President Jason Gentry, please contact Kim Walker.
The Charlotte Regional Realtor® Association is a trade association that provides its more than 10,700 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 15,700 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 and Mountains areas of North Carolina and South Carolina, and beyond.
Original Publish Date: 7/10/2018