Charlotte, NC Metro Area's 2016 Housing Market At A Glance

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

How did the Charlotte metro area's housing market perform in 2016? Here's the 2016 market "at a glance." All the critical indicators of a robust housing market show improvement year-by-year since 2011, with the exception of the inventory of homes available for sale, which has dropped now for three years in a row. In my mind, this is the most critical aspect of our market right now -- availability of homes for buyers to purchase. And it's the supply of homes, or rather lack thereof, that is helping drive Charlotte are home prices up and the housing affordability index down as demand continues to outstrip supply.

 

Charlotte Metro Area's 2016 Housing Market At A Glance:

 

  • Median Sale Price ~ up 7.5% in 2016 to $207,000

  • Average Sale Price ~ up 6.5% in 2016 to $257,701

  • Days On Market (List to Close) ~ down 8.1% in 2016 to 107 days

  • Closed Sales ~ up 8.4% in 2016 to 44,386 units

  • Pending Sales ~ up 10.9% in 2016 to 45,764 units

  • Percent Of Original List Price Received ~ up 1.3% to 96.2% in 2016

  • New Listings ~ up 3.4% in 2016 to 55,390 units (the number of listed properties has essentially been flat since 2013)

  • Inventory Of Homes For Sale ~ down 25.7% to 8.747 units (the lowest amount of inventory since 2011)

 

Charlotte, NC Metro Housing Market 2016 At A Glance

Charlotte, NC Metro Housing Market 2016 At A Glance

 

 

LOOKING FOR A HOME IN THE CHARLOTTE AREA? CAROLINAS REALTY PARTNERS CAN HELP!

WONDERING WHAT YOUR CHARLOTTE AREA HOME IS WORTH IN TODAY'S MARKET?

  

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE HERE

 

  

 FIND MORE INFORMATION ABOUT THE CHARLOTTE METRO AREA'S HOUSING MARKET IN 2016 HERE

 

This  Charlotte, NC region housing market 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'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Topic:
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Charlotte NC Real Estate
Charlotte North Carolina Area
Market Reports
2017 Market Trend Reports
Tags:
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charlotte nc metros housing market at a glance 2016
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Rainmaker
1,964,153
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

The Charlotte housing market is much more affordable than I would have guessed, especially for the metro area. What I remember about Charlotte is it's mostly a corporate town, right? Still, around $200K for a median sales price is so incredibly affordable. Everybody can afford to buy a home in Charlotte, I would think.

Jan 12, 2017 01:13 PM #1
Rainmaker
647,496
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

25% down on inventory, that impacts everyone because as we know when homes sell, everything related to housing benefits. Hope it picks up soon, no wonder you have so much new construction.

Jan 12, 2017 02:07 PM #2
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Nick & Trudy Vandekar ~ hi Nick, well, we've always had a lot of new construction in the area except for when the market went sideways for a while. The real problem is that much of the new stuff is way over most people's budgets.

Jan 12, 2017 02:32 PM #3
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth, Charlotte is a corporate town, but it's become a lot more than that in the last 10 years. What is deceptive about these figures is that the entire metro area includes two states, at least a dozen counties--some of which are very rural and low priced. So the numbers are skewed. You won't find a home you want to live in in a good neighborhood in Charlotte for much under $300K these days.

Jan 12, 2017 02:35 PM #4
Ambassador
2,487,208
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Some impressive numbers all of which favor sellers.  Buyers need to get themselves ready to buy as the inventory of homes does not favor them.

Jan 12, 2017 05:36 PM #5
Ambassador
1,325,110
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Looks like the Charlotte market was up where it should be up and down where it should be down.

Jan 12, 2017 07:11 PM #6
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joe Pryor ~ good morning, Joe... that's one way of putting it... we would like a tad more inventory, however!

Jan 13, 2017 03:50 AM #7
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ed Silva ~ good morning, Ed... and not only does inventory not favor buyers in Charlotte right now, neither do the expected increases in interest rates as they combine with increases in home prices.

Jan 13, 2017 03:51 AM #8
Rainmaker
4,510,597
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will certainly appreciate your local real estate market reports.

Jan 13, 2017 04:02 AM #9
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ good morning, Roy, and thanks. A big issue in my market is the number of people moving here from elsewhere who think just because they are moving south they are going to get huge bargains... not so much.

Jan 13, 2017 04:59 AM #10
Rainmaker
1,452,286
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Thanks for the awesome market report for the Charlotte metro area.

Jan 14, 2017 09:41 PM #11
Rainmaker
2,312,742
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sybil Campbell ~ hi Sybil... thanks... I guess since you just bought a new home this hasn't tempted you to move here, has it? 

Jan 15, 2017 04:20 AM #12
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Rainmaker
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Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
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