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 March home sales were down 1.4 percent with 3,254 properties sold in March 2016 compared to 3,301 properties sold in March 2015. Sales are up 38.8 percent compared to February 2016.
The average sales price ($246,891) increased 2.6 percent compared to the average sales price in March 2015 ($240,711). The median sales price ($198,000) increased 3.7 percent compared to the median sales price in March 2015 ($191,000).
The average list price in March 2016 ($368,292) increased 28.6 percent compared to March 2015 ($286,316), bringing the percent of original list price received measure to 95.5 percent, which is an increase (1.0 percent) compared to the same period last year. Preliminary pending sales counts for the month of March 2016 totaled 4,864, an increase of 20.0 percent over last year at this time (4,054).
2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “The CarolinaMLS region, much like the nation, continues with low inventory, which has resulted in a slow start to the spring selling season. However, from a quarterly perspective the region’s home sales are on par with last spring, up 0.3 percent compared to the first quarter of 2015.”
New residential listings were relatively unchanged, down 0.2 percent in March 2016 compared to March 2015. Inventory declined 27.8 percent compared to March 2015, leaving the CarolinaMLS region with a 2.8-month supply of inventory with 10,145 properties for sale. Inventory in March is up 2.1 percent when compared to the inventory at report time in February 2016, with 210 additional properties for sale.
March 2015’s supply was higher with 14,046 properties for sale, or 4.4 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 122 days, which is 7 days less time on market than March 2015. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 69 days, which is 9 days less time on market than last March.