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Home Sales Surged In November 2016, Nationally And In Charlotte, NC

By Nina Hollander, Broker

Real Estate Agent with Coldwell Banker Realty 179530

December 27, 2016 05:02 AM

The November 2016 housing market update from the National Association of Realtors (NAR) revealed that sales are now at an annual pace of 5.61 million, which is "now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million)."

Additionally, the NAR existing home sales report showed that inventory has dropped year-over-year for the last 18 months, while the median price for all home sales in November was up 6.8% from last year and marked the 57th consecutive month of year-over-year gains for media sale prices.

How The Charlotte, North Carolina Housing Market Compared To National Averages In November:

Charlotte Region Average Sale Price: up 8.1% compared with a 6.8% increase nationally.
Charlotte Region Sales: up 19.7% compared with a 15.4% increase nationally.
Charlotte Region Inventory: down 24.9% compared with a 9.3% decrease nationally.

Despite double digit decreases in Charlotte region's inventory month after month, home sales in the Charlotte region continue on an upwards trajectory and doing better than national averages. But without a doubt, the lack of inventory is fueling increasing home prices as demand outstrips supply.

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This Charlotte, NC region housing market update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants.

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that

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Bob "RealMan" Timm

Ward County Notary Services - Minot, ND

Owner of Ward Co Notary Services retired RE Broker

Nina Hollander our inventory here is finally at a pretty good level and so are prices. A boom is exciting but I could eaisly live without another one.

Dec 27, 2016 05:09 AM

Nina Hollander, Broker

Charlotte, NC

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Bob "RealMan" Timm ~ hi Bob... I find any extremes in the market difficult to work in. I'd rather just have a nice, steady market without too many ups and downs, myself.

Dec 27, 2016 05:22 AM

Bob "RealMan" Timm

Minot, ND

Amen to that Nina Hollander , there is a lot less greed in a steady market.

Dec 27, 2016 07:13 AM

Lise Howe

Keller Williams Capital Properties - Washington, DC

Assoc. Broker in DC, MD, VA and attorney in DC

You have been busy with all your market reports - I hope that it brings you lots of business in 2017

Dec 27, 2016 05:49 AM

Bob "RealMan" Timm

Minot, ND
Nina Hollander, Broker

Charlotte, NC

Lise Howe ~ hi Lise... I keep putting them out there, but not really convinced they are working. Maybe 2017 will be the breakout year.

Dec 27, 2016 05:59 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Nina, so glad to hear your Charlotte market is still on fire, and hope this continues through 2017!

Dec 27, 2016 06:57 AM

Joan Cox ~ hi Joan... the lack of inventory is what keeps fueling our market. So far, I don't see any changes to this situation for the forseeable future.

Dec 27, 2016 07:02 AM

Joan Cox

Denver, CO

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Hi Nina

Interesting read. It was a mixed bag here in my area. Some communities saw more homes sell in November than in October while others, including Carlsbad, saw a decline from October sales. But we did see another increase in prices, both from October as well as year-over-year, in a number of communities including Carlsbad.

Jeff

Dec 27, 2016 07:41 AM

Jeff Dowler ~ hi Jeff... we see the same in the Charlotte area... some communities selling like mad, others a bit slower. But prices definitely up across the board here.

Dec 27, 2016 08:46 AM

Will Hamm

Hamm Homes - Aurora, CO

"Where There's a Will, There's a Way!"

Hello Nina Hollander, You do have a hot market and you are working it girl. Hope you have a great day!

Dec 27, 2016 09:33 AM

Will Hamm ~ hi Will... that "hot" market is keeping inventory very thin and frustrating many buyers, unfortunately. Have a super day yourself.

Dec 27, 2016 09:42 AM

Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Anyone thinking of buying or selling a home in your market area should call you.

Dec 27, 2016 12:35 PM

Gita Bantwal ~ thank you, as always, Gita, for stopping by and taking time to write a nice comment!

Dec 27, 2016 01:03 PM

Home Sales Surged In November 2016, Nationally And In Charlotte, NC

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