The January 2015 National Housing Report from RE/MAX International, based on December 2014 housing data in 53 US markets, has just been released with 43 of these markets reporting higher sale prices (as compared with 48 markets reporting higher sale prices just one month ago). By the same token, sales were 3.9% higher in December 2014 versus December 2013.
On a year-over-year basis, median sale prices were up by 0.5% over November 2014 and 5.9% above December 2013. The median sale price has now risen for 35 consecutive months. As of December 2014, the national median sale price stood at $196,000 (virtually the same as in November 2014).
Days on market increased by three days versus November 2014 and by two days versus December 2013. During 2014 there were six months when the average days on market were in the 60's with the other six months showing a days on market in the 70's. The low days on market is clearly a by-product of the low inventory (inventory of homes for sale was 10.7% lower in December 2014 versus the same month the year prior).
The months supply of homes was 5.7 months, indicating a still balanced market that doesn't fully favor either buyer or seller. For the complete report on the RE/MAX January 2015 National Housing market click here.
The Charlotte, North Carolina metro market compared well with national statistics, with year-over-year closed sales up 15.7% in December 2014, median sale prices up 4.3% and average sale prices up 2.4%. The months supply of homes stood at 4.1 months (a month and a half lower than national statistics and 20% lower than in December 2013). The median sale price in Charlotte as of December 2014 was $180,000, a 4.3% improvement over the prior year. With pending sales in December 2014 in the Charlotte metro market up 28.5% over December 2013 and 7.3% on a year-to-date basis, we can expect a decent sales month in January 2015.
This real estate monthly update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
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