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One Minute Housing Market Video Update-National & Charlotte Region: July 2018

By
Real Estate Agent with Coldwell Banker Realty 179530

 

 

One-minute national housing market video update from RE/MAX for July 2018 for 54 metro areas around the country:

 

  • Home sales up 1.8% year-over-year
  • Median price of homes sold up 4.4% year-over-year to $250,575
  • Average days on market were down by 1 day to 41 days as compared with one year ago
  • Number of homes for sale down 7.8% from July 2017




No doubt that home buyer demand remains strong and that in many areas of the nation it's a seller's market, pure and simple. There just are not enough sellers listing their homes, despite rising prices. But keep in mind that real estate is very local, if not hyper-local... so be sure to have a discussion about your specific market conditions with your real estate professional.

 

 

How did the Charlotte region housing market perform in  July 2018 compared with national averages?

 

  • Home sales down 2.8% year-over-year (think "thinventory")
  • Median price of homes sold up 2.1% year-over-year to $240,000
  • Average days on market were down 8 days to 36 days as compared with one year ago
  • Number of homes for sale down 17.2% year-over-year (more than twice the national figures)

 

  

 

Is now the right time to sell your Charlotte metro area home? That depends on your motivation. If you'd like to have a quick conversation about that, please contact Carolinas Realty Partners with RE/MAX Executive. We'd be delighted to explore the pros and cons of listing your home now versus waiting.

 

Is now the right time to buy your Charlotte metro area home? Absolutely. Inventory remains tight causing home prices to keep increasing, while interest rates are also rising.

 

SEARCH ALL CHARLOTTE METRO AREA HOMES FOR SALE

 

Search for your Charlotte area dream home

 

 

FIND OUT WHAT YOUR CHARLOTTE METRO AREA HOME IS WORTH

 

Find out what your Charlotte metro area home is worth 

 

 

free instant home value report from greathomesincharlotte.com

 

These one minute housing market update videos are brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area residential real estate experts.

 

If you are considering purchasing or selling 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."

 

 

Clock Image courtesy of fotographic1980 at FreeDigitalPhotos.net 

 

  

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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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.

 

Comments (26)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nona.  Thanks for keeping us informed about the real estate market in Charlotte Region.

Aug 17, 2018 05:39 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders hi Gabe... thanks for stopping by... happy Friday and here's wishing you a wonderful weekend!

Aug 17, 2018 05:46 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Nice report and as long as the inventory is this segment remains low, it will be a sellers market.  A

Aug 17, 2018 09:18 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - ReMax puts out a very nice video to support their agents. Your video adds that personal touch. Nice report!

Aug 17, 2018 09:52 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Nina Hollander ,
I always appreciate that you do Market Reports that fit within my attention span!    Still a very strong sellers market in Charlotte, I see.

Aug 17, 2018 10:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Carol Williams hi Carol... you're welcome! And trust me, you're not the only one with that short attention span! 

Aug 17, 2018 12:37 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... RE/MAX does an awesome job with material like this that we can utilize... but it's not just regurgitating the material... it's also all about putting it into perspective for the local market.

Aug 17, 2018 12:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra... for anyone who took economics in college, they know the first topic covered is supply and demand. Less supply leads to more demand which leads to higher prices. Really so basic and yet I know so many people who don't "get" it.

Aug 17, 2018 12:39 PM
Roy Kelley
Retired - Gaithersburg, MD

Thanks, Nina, for sharing this report. 

Have a lovely evening and a very special weekend.

Aug 17, 2018 12:52 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thanks, Roy, for the good wishes and wishing you and Dolores the very same!

Aug 17, 2018 12:55 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Nina - the sellers market continues for most parts of the country.

Aug 17, 2018 05:38 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 You have really made a name for yourself with your national housing updates and your regional and local market reports. It really shows how much professional you are Nina ....

Aug 17, 2018 08:55 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, still looks  like Charlotte is leading the country with your brisk market.

Aug 18, 2018 04:43 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With everyone always being so busy in the world, one minute housing updates make a lot of sense.

Aug 18, 2018 05:29 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... Charlotte market closed sales continue to go down due to lack of affordable inventory and people are beginning to "abandon" looking in Charlotte, which is not necessarily a good thing.

Aug 18, 2018 05:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian, personally I think that all this social media and electronics has turned us into a nation full of people with ADD... and you know what, life has always been busy but it wasn't exacerbated by social media. I think if more of us took a step back and reconsidered how we live our lives, we'd find we can slow down and not lose anything (except stress).

Aug 18, 2018 05:44 AM
Brian England

I completely agree, we need Nina changing things up in the world and making it a better place!

Aug 18, 2018 05:56 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, good morning, Paul... and thank you. I try to always think in terms of adding value before I hit a publish button.

Aug 18, 2018 05:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... indeed, it remains a seller's market in most metro areas even if it's a bit more tempered right now. Inventory is the culprit (or lack thereof).

Aug 18, 2018 05:45 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Good Morning Nina Hollander 

Buyer demand is high. In our area those properties under $450K at quick sales. I really like the format of your report

Aug 18, 2018 07:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Doug Dawes thanks, Doug.  Our problem with thinventory here is for homes priced under $300K.

Aug 18, 2018 08:05 AM