What Happened In Charlotte Region's Housing Market: 3rd Quarter 2017?

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC
http://actvra.in/57zh

 

Third quarter 2017 Charlotte, North Carolina region's home sales continued the positive trends we've seen since 2015. Home buyers are finding the housing market very competitive with increasing home prices resulting from a lack of properties to buy. Buyers looking for a bargain are "hard pressed" to find one. Many first-time buyers are being "priced out of the market."

Meantime, home sellers are seeing their homes sell quickly and for top dollar, when priced right for condition and location.

The "story" of the third quarter 2017 might well be about the continuing double-digit decrease in the supply of homes available for sale across the region, as well as the minimal increase in closed sales due to the lack of inventory. So long as inventory is tight and demand increasing, home prices should continue to increase.

 

In the third quarter of 2017, the Charlotte region saw a:

  • 3.4% increase in average sale prices compared with one year ago
  • 19.3% decrease in inventory of homes for sale compared with one year ago
  • 1.8% increase in closed sales compared with one year ago
  • 25.4% decrease in the months supply of homes (2.3 months supply) compared with one year ago
  • 15.7% decrease in days on market (37 days on average) compared with one year ago
  • 0.6% increase in the percent of original price received compared with one year ago

 

3rd Quarter 2017 Charlotte Region Housing Market Update

 

SEARCH ALL CHARLOTTE REGION HOMES FOR SALE

 


 

 

The "main" story in four of the most populated and in-demand counties (Mecklenburg and Union Counties in North Carolina; York and Lancaster Counties in South Carolina) in the Charlotte region is the lack of inventory of homes for sale, which has dropped in double digits in all but Lancaster County. Mecklenburg County had only 1.9 months of inventory at the end of the third quarter. Union and York Counties had 2.7 and 2.3 months respectively of inventory, while Lancaster County had 3.7 months of inventory. The only county showing a significant increase in closed sales in the third quarter was Lancaster County, which was also the only county with an increase in inventory. It's clearly a seller's market in these four Charlotte metro area counties and the lack of inventory to meet demand continues to be "the story of the day."

 

Mecklenburg County, NC (where Charlotte City is located):

  • Average Sale Price: up 0.8% versus one year ago.
  • Inventory of Homes for Sale: down 18.4% versus one year ago.
  • Closed Sales: up 1.9% versus one year ago.
  • Months Supply of Homes for Sale: 1.9 months, down 24.7% versus one year ago.
  • Average Days on Market: 28 days, down 18.9% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  up 8.2% versus one year ago.
  • Inventory of Homes for Sale: down 13.9% versus one year ago.
  • Closed Sales: down 3.5% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 21.8% versus one year ago.
  • Average Days on Market: 38 days, down 17.7% versus one year ago.

 

York County, SC (where Fort Mill, Tega Cay, Clover, Lake Wylie, and Rock Hill are located):

  • Average Sale Price: up 8.4% versus one year ago.
  • Inventory of Homes for Sale: down 20.9% versus one year ago.
  • Closed Sales:  up 1.3% versus one year ago.
  • Months Supply of Homes for Sale: 2.3 months, down 25.1% versus one year ago.
  • Average Days on Market: 38 days, down 12.8% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 1.3% versus one year ago.
  • Inventory of Homes For Sale:  up 25.4% versus one year ago.
  • Closed Sales: up 20.9% versus one year ago.
  • Months Supply of Homes for Sale: 3.7 months, down 10.9% versus one year ago.
  • Average Days On Market: 55 days, down 8.8% versus one year ago.

 

 

Mecklenburg County, NC Housing Market Update: 3rd Quarter 2017

 

SEARCH ALL MECKLENBURG COUNTY, NC HOMES FOR SALE


 

 

 

 

 

Union County, NC Housing Market Update: 3rd Quarter 2017 

  

SEARCH ALL UNION COUNTY, NC HOMES FOR SALE

 


 

York County, SC Housing Market Update: 3rd Quarter 2017
   

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

  


 

Lancaster County, SC Housing Market Update: 3rd Quarter 2017
  

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE

 


 

  

Wondering What Your Charlotte Region Home Is Worth In Today's Market?

 

 

 

 

This quarterly Charlotte, NC region housing market update is brought to you by 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:

 "The Right Broker Makes All The Difference."

 

 

Posted by

 

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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Rainmaker
4,264,398
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families moving to the area will appreciate your local real estate market reports.

Oct 12, 2017 05:26 AM #1
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Roy Kelley ~ good morning, Roy. Thanks for stopping by and here's wishing you a terrific Thursday!

Oct 12, 2017 05:34 AM #2
Rainmaker
1,395,602
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

So what do the sales numbers show? That, Nina Hollander continues to dominate and rack-up the sales. The numbers reveal all that your market is a healthy one!

Oct 12, 2017 05:47 AM #3
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 ~ hi Sandy and Norm... with the eception of Lancaster County which has seen an increase in inventory and a subsquent increase in sales, Charlotte area numbers are very much showing that lack of inventory is slowing sales and increasing prices.

Oct 12, 2017 05:53 AM #4
Rainmaker
3,222,395
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update and valuable information for buyers and sellers looking to see what is happening in Charlotte.

Oct 12, 2017 05:56 AM #5
Rainmaker
3,925,189
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for keeping us informed about the Charlotte real estate market.

Oct 12, 2017 06:03 AM #6
Rainmaker
2,658,875
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Your market report on Charlotte Region's housing looks good, and only the lack of inventory is the one area that needs improvement. 

Oct 12, 2017 06:19 AM #7
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ hi Sheila and Larry... you have no idea how often I have clients asking me "are you sure there isn't anything else out there for us to look at." I know sales would be higher with more inventory.

Oct 12, 2017 06:59 AM #8
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Gabe Sanders ~ hi Gabe... thanks for popping by... wishing you a totally terrific Thursday!

Oct 12, 2017 07:00 AM #9
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Joan Cox ~ hi Joan... seems like I've essentially been writing the "same story" for a couple of years now with a few changes in the numbers reported.

Oct 12, 2017 07:00 AM #10
Rainmaker
1,890,117
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

I have been trying to say good morning to you, Nina, for the past 40 minutes and I keep getting interrupted with emails and phone calls, LOL. So I'm gonna just give up and say good to see the market is still going strong in Charlotte.

Oct 12, 2017 09:17 AM #11
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... don't we all have those kind of days! It's still morning at your end, so I'll say good morning back to you!

Oct 12, 2017 09:44 AM #12
Rainmaker
741,530
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Nina Hollander - I really like the way you break down the market reports for the different counties. This gives your clients a snapshot and high level view which you can easliy break down provide more expert advice for each area. Nice job!

Oct 12, 2017 04:08 PM #13
Ambassador
3,300,215
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina that is a long ride since 2015, congratulations.  It is finally starting to look like our ride maybe getting ready to start.

Oct 12, 2017 04:33 PM #14
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

George Souto ~ hi George... that is a long ride and I don't see much changing any time soon.

Oct 12, 2017 05:22 PM #15
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Sheri Sperry - MCNE® ~ hi Sheri... since I regularly sell in two states and in half a dozen counties, I know that market trends can vary from one area to the next. Real estate really is very hyper-local.

Oct 12, 2017 05:24 PM #16
Rainmaker
3,219,626
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

The greater Charlotte regional housing market remains strong.

Good luck and success.

Lou Ludwig

Oct 12, 2017 06:55 PM #17
Rainmaker
2,099,051
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Lou Ludwig ~ hi Lou.... not that we are looking for our market to weaken, but some more affordable inventory would be nice.

Oct 13, 2017 03:26 AM #18
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