CarolinaMLS June Home Sales Reflect Slowing Sales Market

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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 year-over-year home sales in June decreased 3.8 percent with 4,719 properties sold compared to 4,904 properties sold in June 2016. Home sales were up 10.3 percent compared to May 2017.

The average sales price ($290,067) increased 3.9 percent compared to the average sales price in June 2016 ($279,243).  The median sales price ($245,000) increased 8.9 percent compared to the median sales price in June 2016 ($225,000).

The average list price in June 2017 ($318,922) increased 7.9 percent compared to June 2016 ($295,651), bringing the percent of original list price received measure to 97.5 percent, a slight increase of 0.7 percent compared to the same period last year. Pending sales counts rose 17.4 percent and totaled 5,011 during June 2017, compared to 4,269 pending sales last June.

2017 Association/CarolinaMLS President Roger Parham said, “The Charlotte market, like many housing markets across the country, is seeing a general slowdown in sales, even as mortgage rates remain low and local job creation remains steady. Fortunately, demand for homes is still strong, as seen through pending contract activity, even as buyers continue to face inventory shortages and price increases.”

New residential listings (5,658) increased slightly by 0.1 percent in June 2017 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 20.8 percent compared to June 2016, leaving the CarolinaMLS region with 2.5 months of supply of inventory, or 9,967 properties for sale at report time.  A year ago in June 2016 the region had 12,592 properties for sale, or 3.5 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 99 days, which is six days less time on market than June 2016.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 40 days, which is seven days less time on market than last June.

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.”

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