What Happened In Charlotte Region's Housing Market: 4th Quarter 2017?

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

 

Fourth quarter 2017 Charlotte, North Carolina region's home sales continued the positive trends we've seen all year and since 2015. Home buyers are finding the housing market very competitive with higher home prices and a lack of properties to buy. Buyers looking for a bargain are "hard pressed" to find one.  Meantime, home sellers are seeing their homes sell quickly and for top dollar, when priced right for condition and location. The "story" of the fourth quarter 2017 might well be about the double-digit decrease in the supply of homes available for sale across the region, except that it's now an old story, because that was also the story of 2016.

 

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

  • 6.6% increase in average sale prices
  • 21.1% decrease in inventory of homes for sale
  • 1.8% increase in closed sales
  • 25.5% decrease in the months supply of homes (2.3 months supply)
  • 13.8% decrease in days on market
  • 0.4% increase in the percent of original price received

 

Charlotte NC Regions Housing Market Update: 4th Quarter 2017

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. Mecklenburg County had only 1.3 months of inventory at the end of the fourth quarter. Union and York Counties had less than 2.2 months of inventory, while Lancaster County had 3.1 months  of 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." The lack of inventory is also impacting home prices, dampening sales, and affecting affordability.

 

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

  • Average Sale Price: up 7.4% versus one year ago.
  • Inventory of Homes for Sale: down 22.7% versus one year ago.
  • Closed Sales: up 2.0% versus one year ago.
  • Months Supply of Homes for Sale: 1.3 months, down 27.5% versus one year ago.
  • Average Days on Market: 33 days, down 14.6% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  down 1.1% versus one year ago.
  • Inventory of Homes for Sale: down 13.0% versus one year ago.
  • Closed Sales:  up 7.6% versus one year ago.
  • Months Supply of Homes for Sale: 2.2 months, down 11.8% versus one year ago.
  • Average Days on Market: 46 days, down 12.3% versus one year ago.

 

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

  • Average Sale Price: down 0.3% versus one year ago.
  • Inventory of Homes for Sale: down 21.7% versus one year ago.
  • Closed Sales:  up 3.8% versus one year ago.
  • Months Supply of Homes for Sale: 1.9 months, down 24.2% versus one year ago.
  • Average Days on Market: 43 days, down 18.4% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 5.6% versus one year ago.
  • Inventory of Homes For Sale:  down 22.5% versus one year ago.
  • Closed Sales: up 13.3% versus one year ago.
  • Months Supply of Homes for Sale: 3.1 months, up 4.5%. 
  • Average Days on Market:  49 days, down 11.7% versus one year ago.

 

 

See the charts below for more detailed information on 4th quarter home sales statistics:

 

Mecklenburg County, NC Housing Market Update 4th Quarter 2017
 

SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE

 

 


Union County, NC Housing Market Update 4th Quarter 2017

 

SEARCH ALL UNION COUNTY HOMES FOR SALE

 

 


 

York County, SC Housing Market Update 4th Quarter 2017

 

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

 

 


 

Lancaster County, SC Housing Update 4th Quarter 2017

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE 



 

Charlotte Region Housing Market Report: 3rd Quarter 2017

Charlotte Region Housing Market Report: 2nd Quarter 2017

Charlotte Region Housing Market Report: 1st Quarter 2017

 

This quarterly Charlotte, NC region housing market update is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executiveyour 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."

 

Originally posted at: https://www.greathomesincharlotte.com/charlotte-nc-region-housing-market-update-4th-quarter-2017 

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
1,774,122
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seems like it was a pretty healthy 4th quarter, but of course I would rely on you to tell me what is really going on!

Jan 11, 2018 04:12 PM #1
Rainmaker
1,326,939
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander, homeowners thinking about selling would be very happy with your reporting. Those looking to buy or sell a home in the Charlotte area would be in great hands with you as their REALTOR®.

Jan 11, 2018 06:53 PM #2
Ambassador
2,555,907
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I hope you are getting a great response from interested prospects with all the research you have done to compile your statistics Nina Hollander 

Jan 11, 2018 09:00 PM #3
Rainmaker
2,518,426
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina, take this post and put it into Beverly Hills the figures and stats would be identical, the only difference would be the price points, Endre

Jan 11, 2018 09:44 PM #4
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ hi Paul... unfortunately I get virtually NO response to market reports.... really thinking about how much I want to waste time doing them.

Jan 12, 2018 03:47 AM #5
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. ~ hi Endre... the price point difference between Charlotte and Beverly Hills would be huuuge!

Jan 12, 2018 03:48 AM #6
Rainmaker
3,768,570
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. Thank you for sharing 

Jan 12, 2018 03:56 AM #7
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ good Friday morning, Gita.... thanks for stopping by. Wishing yo a lovely weekend.

Jan 12, 2018 04:06 AM #8
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Beth Atalay ~ hi Beth... thanks for this great vote of confidence! Here's wishing you a great weekend.

Jan 12, 2018 04:09 AM #9
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hey Brian... I just did tell you.. it was an excellent fourth quarter! 

Jan 12, 2018 04:10 AM #10
Rainmaker
2,693,376
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

Big decrease in inventory Nina. Unfortunately, we're seeing that happening here too. Buyers have to be ready when new inventory appears.

Jan 12, 2018 04:12 AM #11
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ hi Sheila and Larry... this is a big decrease for a third year in a row.... and buyers not only need to be ready to buy, they need to be ready to pay more.

Jan 12, 2018 04:40 AM #12
Rainmaker
3,289,294
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, very in-depth and valuable report for the 4th quarter's sales in Charlotte.  

Jan 12, 2018 05:13 AM #13
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ good morning, Joan... thanks. I was surprised to see how much sales were dampened by the lack of inventory.

Jan 12, 2018 05:23 AM #14
Rainmaker
2,497,002
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Your graphs to jump out. I wrote a blog, it is all nice, upload it and AR scrambles it? Well its 57 this morning and  along way from -14 of last week Nina Hollander 

Jan 12, 2018 05:45 AM #15
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk ~ hi Scott... sorry to hear about the scrambling on AR. I deal with that on my own posts more often than I'd like to. As for the weather... it's a veritable heat wave at your end! It will push 70 degrees here in Charlotte today.

Jan 12, 2018 05:54 AM #16
Rainmaker
580,587
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Love your charts, make the information easy to understand. Hope you get plenty of calls from those wanting to list in this low inventory market.

Jan 12, 2018 06:56 AM #17
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Nick & Trudy Vandekar, 610-203-4543 ~ hi Nick... in all these years I've yet to ever receive a phone call from a lead from one of my market posts... really beginning to think they might be a waste of time.

Jan 12, 2018 07:12 AM #18
Ambassador
1,436,567
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Nina, I sure hope some homeowners call you to list and take advantage of the low inventory in the area. It's time to sell your house and move on to a new adventure...

Jan 12, 2018 10:04 AM #19
Rainmaker
2,162,578
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD ~ thanks, Debb... the real problem is that the new adventure to move on to is an impossible task to finding a new home. That's why sellers are sitting tight.

Jan 12, 2018 10:20 AM #20
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