May 9, 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 April increased 1.6 percent, with 4,028 properties sold compared to 3,963 properties sold in April 2017. Compared to previous month (March 2018), sales rose 4.2 percent.
The average sales price in April 2018 ($292,158) increased 8.1 percent compared to April 2017 ($270,241), while the median sales price ($240,000) increased 7.4 percent compared to April 2017 ($223,498). Compared to the March 2018, the average and the median sales price increased 4.4 percent and 2.1 percent respectively.
The average list price in April 2018 ($342,606) increased 6.6 percent compared to April 2017 ($321,505), bringing the percent of original list price received measure to 97.4 percent, a slight increase of 0.2 percent compared to the same period last year. Pending sales in April 2018 (5,245) rose 10.7 percent compared to April 2017. Compared to the previous month (March 2018), pending sales increased 1.2 percent.
“It’s good to see year-over-year sales this past April increased slightly over last year’s sales; however, sales activity remains slow this spring and lagging behind previous years with tight inventory impacting home prices,” said 2018 Charlotte Regional Realtor® Association/CarolinaMLS president Jason Gentry. “The good news is that pending contract activity continues to show strong interest from buyers.”
New residential listings (5,773) increased 0.7 percent in April 2018 compared to the same period last year. Compared to the previous month (March 2018), new listing counts decreased 3 percent. Inventory continued to fall, with the number of homes for sale down 22.6 percent compared to April 2017, which left the CarolinaMLS region with 8,515 properties for sale at report time, or 2.1 months of supply of inventory. A year ago in April 2017 the region had 11,008 properties for sale, or 2.8 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 94 days, which is five days fewer than it was in April 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 44 days, which is five days fewer than April 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 regioncore 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 regioncore 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 10,100 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.