December 11, 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 November decreased 11.9 percent, with 3,310 properties sold compared to 3,756 properties sold in November 2017. This marks seven months of decline in year-over-year sales. Compared to the previous month (October 2018), November’s sales were down 8.5 percent. Year-to-date sales for January through November 2018 are down 2.3 percent compared to the same period in 2017. 

The average sales price in November 2018 ($286,438) increased 6.7 percent compared to November 2017 ($268,334), while the median sales price ($235,000) increased 6.3 percent compared to November 2017 ($221,000).  Compared to the previous month (October 2018), the average and the median sales prices increased 2.8 percent and 1.7 percent respectively.

The average list price in November 2018 ($317,542) increased 8.8 percent compared to November 2017 ($291,749), bringing the percent of original list price received measure to 95.9 percent, which is down 0.6 percent compared to the same period last year. Pending sales in November 2018 (3,523) increased 7.3 percent compared to November 2017. Compared to the previous month (October 2018), pending sales decreased 13.9 percent.

2018 Charlotte Regional Realtor® Association/CarolinaMLS President Jason Gentry said, “Though sales activity over the last few months seems to be slowing, we still look to finish the year with sales on par with last year.  Due to Charlotte’s desirability, we expect the market to continue to be healthy and for demand from buyers to be steady throughout 2019. With inventory shortages continuing and interest rates inching ever higher, Realtors^® will no doubt be strong advocates for their buyers and sellers in this changing market.”

New residential listings (3,932) increased 2.6 percent in November 2018 compared to the same period last year.  Compared to the previous month (October 2018), new listing counts declined 18.0 percent. Inventory continued to fall, with the number of homes for sale down 7.0 percent compared to November 2017, which left the CarolinaMLS region with 9,701 properties for sale at report time, or 2.4 months of supply of inventory.  A year ago in November 2017 the region had 10,428 properties for sale, or 2.6 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 93 days, which is three fewer days than November 2017.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 44 days, or three fewer days than November 2017.

For more residential-housing market statistics, visit www.CarolinaHome.com and 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 with more than 11,000 Realtor® members.  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 16,200 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.