Ivester Jackson Distinctive Properties is the leading luxury brokerage in the Charlotte region. An exclusive affiliate of Christie’s International Real Estate, the firm serves the Charlotte, Lake Norman, and Asheville areas of North Carolina, managing over 250 million dollars in listed inventory annually.
Charlotte’s luxury market saw a comparable start to that of 2017 this spring, while sold results in the mid-luxury segment below $1 M in value were fairly flat up to about $1.5 M in value. The ultra-luxury segment saw a surge in pending contracts near the end of March in both SouthPark and near town areas of Myers Park and Eastover.
Total showings and average showings per home increased about 3% in the $500 – $999 K range this spring over last spring. The range just above $1 M also saw an increase in showing activity over last spring of roughly 5%.
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 the 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.
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.
Homes Sales Increased
CarolinaMLS February home sales increased 1.4 percent with 2,345 properties sold in February 2016 compared to 2,312 properties sold in February 2015. Sales are up 15 percent compared to January 2016.
Average Sales Price Increased
The average sales price ($230,943) increased 4.2 percent compared to the average sales price in February 2015 ($221,690). The median sales price ($182,000) increased 2.2 percent compared to the median sales price in February 2015 ($178,000).
Average List Price Increased
The average list price in February 2016 ($313,725) increased 10.8 percent compared to February 2015 ($283,266), bringing the percent of original list price received measure to 94.9 percent, which is an increase (1.4 percent) compared to the same period last year. Preliminary pending sales counts for the month of February 2016 totaled 3,814, an increase of 22.2 percent over last year at this time (3,122).
“Sellers are testing the market”
2016 Association/CarolinaMLS President Maren Brisson-Kuester said, “Though inventory challenges continue, sellers are starting to test the market, with February new listings up 7 percent compared to January. This is a trend we’d like to see continue as we head into the spring selling season.”
New Listings Unchanged
New residential listings were relatively unchanged, down 0.2 percent in February 2016 compared to February 2015. Inventory declined 26.4 percent compared to February 2015, leaving the CarolinaMLS region with a 2.8-month supply of inventory with 9,935 properties for sale. Last February’s supply was higher with 13,505 properties for sale, or 4.3 months of supply.
Less Days on Market
The average number of days a property was on the market from the time it was listed until it closed (list to close) was 126 days, which is 5 days less time on market than February 2015. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 72 days, which is 8 days less time on market than last February.