For Week Ending October 16, 2021 (Data current as of October 25, 2021)

The supply of entry-level housing is at its lowest level in nearly five decades, according to Freddie Mac, who reports that entry-level home construction decreased from 418,000 units per year in the 1970s to 65,000 units per year in 2020. The shortage of starter homes has proven challenging to first-time buyers, as many existing entry-level homes are being remodeled or demolished and replaced by much larger homes, while those that remain have become significantly more expensive, with sales prices increasing 64% from 2016, according to realtor.com.

Charlotte Region

In the Charlotte region, for the week ending October 16:

• New Listings increased 4.0% to 1,267
• Pending Sales increased 14.5% to 1,284
• Inventory decreased 33.2% to 4,379

For the month of September:

• Median Sales Price increased 15.9% to $335,000
• List to Close decreased 17.9% to 69
• Percent of Original List Price Received increased 2.4% to 101.0%
• Months Supply of Homes for Sale decreased 35.7% to 0.9

View the full Charlotte report

Asheville Region

 In the Asheville region, for the week ending October 16:

• New Listings increased 3.7% to 339
• Pending Sales increased 11.6% to 337
• Inventory decreased 34.9% to 2,063

For the month of September:

• Median Sales Price increased 10.8% to $349,000
• List to Close decreased 33.1% to 83
• Percent of Original List Price Received increased 2.5% to 97.9%
• Months Supply of Homes for Sale decreased 41.9% to 1.8

View the full Asheville report