Charlotte, NC Region Housing Market Report: 1st Quarter 2018

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

 

First quarter 2018 Charlotte, North Carolina region's home sales continued the trends we've seen 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 first quarter 2018 might well be about the double-digit decreases in the supply of homes available for sale across the region. It's worth pointing out that it's now an "old" story, because that was also the story of 2016 and 2017.

 

 

In the first quarter of 2018, the Charlotte region saw a:

  • 5.4% increase in average sale prices
  • 23.5% decrease in inventory of homes for sale
  • 4.2% decrease in closed sales
  • 26.6% decrease in the months supply of homes (2 months supply)
  • 8.8% decrease in days on market (52 days on market)
  • 96.7% percent of original price received

 

 

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 1.5 months of inventory at the end of the first quarter. Union and York Counties had less than 2.3 months of inventory, while Lancaster County had 2.9 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 6.3% versus one year ago.
  • Inventory of Homes for Sale: down 19.9% versus one year ago.
  • Closed Sales: down 7.7% versus one year ago.
  • Months Supply of Homes for Sale: 1.5 months, down 23% versus one year ago.
  • Average Days on Market: 39 days, down 5.1% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  up 4.4% versus one year ago.
  • Inventory of Homes for Sale: down 15.7% versus one year ago.
  • Closed Sales:  down 10.3% versus one year ago.
  • Months Supply of Homes for Sale: 2.3 months, down 16.3% versus one year ago.
  • Average Days on Market: 55 days, down 7.2% versus one year ago.

 

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

  • Average Sale Price: up 2.1% versus one year ago.
  • Inventory of Homes for Sale: down 14.1% versus one year ago.
  • Closed Sales:  up 4.7% versus one year ago.
  • Months Supply of Homes for Sale: 2.0 months, down 14.9% versus one year ago.
  • Average Days on Market: 49 days, down 11.5% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 7% versus one year ago.
  • Inventory of Homes For Sale:  up 4.4% versus one year ago.
  • Closed Sales: up 28.8% versus one year ago.
  • Months Supply of Homes for Sale: 2.9 months, down 17.8%. 
  • Average Days on Market:  68 days, down 3.9% versus one year ago.

 

 

See the charts below for more detailed information on 1st quarter 2018 home sales statistics:

 

1st Quarter 2018 Housing Report For Mecklenburg County, NC

 


 

SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE

 

 


 

1st Quarter 2018 Housing Report Union County, NC

 

SEARCH ALL UNION COUNTY HOMES FOR SALE

 

 


 

1st Quarter Housing Report York County, SC

 

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

 

 


 

1st Quarter 2018 Housing Report Lancaster County, SC  

 

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE 



 

Charlotte Region Housing Market Report: 4th Quarter 2017

 

Charlotte Region Housing Market Report: 3rd Quarter 2017

Charlotte Region Housing Market Report: 2nd 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."

 

 

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
1,158,202
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

There is a whole lot of "decreasing" going on there in Charlotte Nina Hollander . I hope more inventory comes your way soon.

Apr 12, 2018 01:55 PM #1
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ amazing isn't it, Bob... monthly decreases year after year. Causing a lot of pain here for buyers.

Apr 12, 2018 02:07 PM #2
Ambassador
1,532,345
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Just had coffee with a former buyer client - considering listing their home soon. We discussed this topic - still losing inventory in many segments of the market. So weird. Yet homes listed better be priced right and in ship shape condition to sell quickly.  D 

Apr 12, 2018 02:31 PM #3
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD ~ hi Debb... same here... just because it's a hot market it doesn't mean buyers aren't demanding turn-key and proper pricing.

Apr 12, 2018 02:37 PM #4
Rainmaker
3,913,652
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 

Apr 13, 2018 03:58 AM #5
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita. Happy Friday the 13th! Wishing you a lucky day and a wonderful weekend.

Apr 13, 2018 04:10 AM #6
Rainmaker
3,439,204
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, your market reports are chock full of information valuable to those interested in buying or selling in Charlotte!  

Apr 13, 2018 05:55 AM #7
Rainmaker
1,673,938
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nina Hollander - OMG is it really Friday the 13th? Time sure does fly!

No matter what the market does you're the Agent with speed, integrity, knowledge, and tenacity to get any type of transaction done. The market report is just part of the story. For more information, consumers need to contact you directly. 

Apr 13, 2018 06:00 AM #8
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ thanks, Joan. I figure if I'm going to do these, they might as well be complete.

Apr 13, 2018 06:33 AM #9
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ thanks, Patricia. Personally, because the #13 is my lucky number and because I lot cats, I've always considered it a lucky day.

Apr 13, 2018 06:35 AM #10
Rainmaker
4,502,322
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Apr 13, 2018 06:45 AM #11
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy, as always for popping by. Wishing you and Dolores a lovely weekend.

Apr 13, 2018 07:08 AM #12
Rainmaker
1,474,573
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Nina - what Charlotte NC market needs in more construction and more sellers.

Apr 13, 2018 11:30 AM #13
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider ~ hi Grant... our metro area is actually awash in new construction... the problem is that the cost of it is no longer in the affordable range for many home buyers.

Apr 13, 2018 11:36 AM #14
Ambassador
3,523,279
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Nina

That's certainly a very through report, with more news that will not please buyers! We are seeing some similar trends but March saw a big bump in many communities for sales and inventory over February...our spring market in action.

Hope this gets your phone ringing with sellers who want to take advantage of the market...provided they can find something else! Buyers, of course, could use your help in crafting winning offers!

Jeff

Apr 13, 2018 04:47 PM #15
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeff Dowler, CRS ~ good morning, Jeff. Lack of inventory in many of our areas is at critical stages now and really impacting purchases by entry level buyers.

Apr 14, 2018 04:03 AM #16
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Rainmaker
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