Charlotte Market Report

CHARLOTTE, N.C. – 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 Sales activity down 3.3 percent in November

CarolinaMLS November home sales decreased 3.3 percent with 2,439 properties sold, compared to 2,523 properties sold in November 2014.  Sales are down 20.6 percent compared to October 2015; however, year-to-date sales are up 12.4 percent with 37,254 properties sold over the past 11 months.

Melinda Hillspring Drive

The average sales price in November 2015 ($240,663) rose 5.8 percent compared to the average sales price in November 2014.  The median sales price ($197,000) was up 9.4 percent when compared to the median sales price for last November.

hillspring kitchen

Up 12.4 percent year-to-date

The average list price in November 2015 ($268,973) increased 7.4 percent compared to November 2014 ($250,455), bringing the percent of original list price received measure to 95.0 percent, which is a slight increase (1.1 percent) compared to the same period last year. Preliminary pending sales counts for the month of November totaled 3,000, an increase of 18.1 percent over the previous period when pending contracts totaled 2,540.

Hillspring Family Room

New residential listings declined 4.7 percent to 3,042 in November 2015 compared to November 2014.  Inventory declined 22.5 percent compared to November 2014, leaving the CarolinaMLS region with a 3.3-month supply of inventory with 11,666 properties for sale at report time.  Inventory in November is down 5.7 percent compared to October 2015.

2015 Association/CarolinaMLS President Maren Brisson-Kuester said, “Even though the pace of sales has slowed across the region, which is typical for this time of year, overall sales for the year are up more than 12 percent, so we should finish the year on a positive note. Sales in our region are following the same trend we’re seeing nationally; however, local pending contract activity remains solid.  This means sales should remain steady moving forward into the new year.”

The average number of days a property was on the market from the time it was listed until it closed (list to close) was 115 days, compared to 124 days last November. Days on Market (DOM), the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 62 days, compared to 71 DOM last November.

 

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