Weekly Market Activity Report
For Week Ending Nov. 24, 2018
(Data current as of Dec. 3, 2018)
With each passing week, it is evident that residential real estate markets across the nation are poised to finish 2018 with positive energy and room for optimism. Even in an environment of rising home prices and mortgage rates, we are finding relative balance in city after city when looking specifically at year-over-year trends. While it's true that sales and new listings are down compared to last year at this time for some price ranges and home types, it is not often by much.
In the Charlotte region, for the week ending November 24:
- New Listings increased 15.8% year-over-year to 637
- Pending Sales increased 14.7% year-over-year to 693
- Inventory decreased 5.4% year-over-year to 10,150
For the month of October:
- Median Sales Price increased 5.0% year-over-year to $231,000
- List to Close increased 1.1% year-over-year to 91
- Percent of Original List Price Received decreased 0.5% year-over-year at 96.2%
- Months Supply of Homes for Sale decreased 2.3% year-over-year to 2.6