The Charlotte real estate market continues to cruise along like a fine-tuned sports car. Consider this: as of 3/31/2014, existing inventory dipped once again to 14,614 homes on the market in the Charlotte-Gastonia-Rock Hill NC/SC Metro Area, a drop of 4.8% from last year. And the average number of days on the market for residential listings is 141, or 4.7 months. That’s a decrease of 6.6% from last year, a sure sign that home sales are heating up.With inventory continuing to drop, and with average list to sales times going down, the trend is still toward higher home prices.
The percent of original list price received was 93.3%. That compares to 93% of the percent of original sales price from last year at this time, a slight increase. Also, the number of pending sales, or homes on the market where the buyer and seller have agreed on a price, but have not yet closed, is at 3,758, an increase of a very significant 11.2% from last year, which was also a year of strong growth in Charlotte real estate. The number of pending sales is the best indicator of expected closings in the next few months. Bottom line? Ladies and gentlemen, start your engines!
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