July Home Sales Tick Up 3 Percent In Charlotte Area

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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 July increased 3.1 percent with 4,246 properties sold compared to 4,119 properties sold in July 2016. Home sales were down 10 percent compared to June 2017.

The average sales price ($280,696) increased 5 percent compared to the average sales price in July 2016 ($267,362).  The median sales price ($236,000) increased 9.8 percent compared to the median sales price in July 2016 ($215,000).

The average list price in July 2017 ($311,673) increased 5.4 percent compared to July 2016 ($295,742), bringing the percent of original list price received measure to 97.3 percent, a slight increase of 0.6 percent compared to the same period last year. Pending sales counts rose 16.1 percent and totaled 4,724 during July 2017, compared to 4,068 pending sales last July.

2017 Association/CarolinaMLS President Roger Parham said, “Sales are steady and pending contracts continue to be strong across the region, which is a good indicator of future sales and that buyers, who continue to face headwinds of inventory shortages and price increases, are still in the market to buy homes. With new listings up nearly 6 percent, we don’t expect to see buyer fatigue in our market, since listing activity has been steady.”

New residential listings (5,427) increased 5.9 percent in July 2017 compared to the same period last year.  Inventory continued to fall, with the number of homes for sale down 19.8 percent compared to July 2016, leaving the CarolinaMLS region with 2.6 months supply of inventory, or 10,174 properties for sale at report time.  A year ago in July 2016 the region had 12,685 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 90 days, which is eleven days less time on market than July 2016.  Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 40 days, which is eight days less time on market than last July.

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.”  For an interview with 2017 Association/CarolinaMLS President Roger Parham, please contact Kim Walker.

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