March 23, 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.

The Charlotte metro region year-over-year home sales in February increased 2.1 percent, with 2,755 properties sold compared to 2,699 properties sold in February 2017.

Home sales were up 3.2 percent compared to January 2018.

The average sales price in February 2018 ($264,529) increased 7.8 percent compared to February 2017 ($245,318), while the median sales price ($227,000) increased 12.9 percent compared to February 2017 ($201,053).  The average sales price compared to January 2018 ($265,371) was down slightly (0.3 percent), while the median sales price compared to January 2018 ($216,000) increased 5.1 percent.

The average list price in February 2018 ($328,584) increased 4.0 percent compared to February 2017 ($315,945), bringing the percent of original list price received measure to 96.6 percent, a slight increase of 0.2 percent compared to the same period last year. Pending sales counts rose 10.0 percent and totaled 4,159 in February 2018, compared to 3,780 pending sales in February 2017. Pending sales rose 17.2 percent compared to the previous month (January 2018).

“Despite the challenges the Charlotte region continues to face surrounding inventory levels and price increases, we’re pleased to see positive year-over-year sales during the first two months of the year.  Buyer demand continues to be steady, and we saw homes average about 10 showings per listing in February,” said 2018 Association/CarolinaMLS President Jason Gentry.

New residential listings (4,627) decreased 1.4 percent in February 2018 compared to the same period last year.  However, February 2018 new listing counts compared to January 2018 increased 16.3 percent.  Inventory continued to fall, with the number of homes for sale down 17.6 percent compared to February 2017, which left the CarolinaMLS region with 7,915 properties for sale, or 2.0 months of supply of inventory, at report time.  A year ago in February 2017 the region had 9,605 properties for sale, or 2.5 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 106 days, which is six days less time on market than February 2017.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 55 days, which is one day less time on market than February 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 10,100 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 15,300 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 include listings from other counties: Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties in North Carolina; Chester, Chesterfield, Lancaster and York counties in South 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 MLS vendor 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.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 that provides its more than 10,100 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 15,300 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: 3/23/2018