RE/MAX National Housing Report:
November 2016 Housing Data
The RE/MAX National Housing Report for December 2016: "November home sales defy seasonal trends" is the story of the month, with home sales up 19.1% despite what is normally considered a slow season for home sales. More homes were sold in November 2016 than any other November on record since RE/MAX began publishing its monthly National Housing Report eight years ago.
To quote Dave Liniger, Chairman and CEO of RE/MAX: “The continued decline of inventory and talk of rising interest rates may have contributed to November’s surge of home sales." Over the past 11 months, the majority of markets have seen home prices return to their pre-recession levels, reaffirming that 2016 has been the best year for the housing market since the recession.”
For a more detailed review, click here for the latest RE/MAX National Housing Report.
How Charlotte, North Carolina's region compared to national statistics in November 2016:
Median sale price of Charlotte region homes was up 7.7% compared with November 2015 and up 7.3% on a year-to-date basis. Charlotte area's median price sale is catching up with national averages at $210,000 and increased from $195,000 just one year ago.
Months supply of homes in the Charlotte region was 2.6 months, down 31.6% versus November 2015. This compares with the national average of 4.0 months.
Inventory of homes in the Charlotte region was down 24.9% in November 2016 (compared with national figures down at 17.0%) as compared with one year ago.
- Average days on market in the Charlotte region mirrored national averages with days on market until sale at 49 days (down 21.0%) and cumulative days on market at 60 days (down 16.7%) in November 2016.
With continuing demand for homes and rising home prices it may be the perfect time to sell your home. It may also be the perfect time to buy a home before prices and interest rates rise further.
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.
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: