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Charlotte, NC Region Housing Market Report & Video: May 2018
Charlotte, NC Region Housing Market Update:
The Charlotte region's housing market began the second month of the second quarter with home prices up, closed sales down due to limited inventory, but with pending sales up as compared with May 2017. Both average and median sale prices were up in May 2018. Inventory and the months supply of homes remain low and below what they were one year ago with homes selling faster as a result.
May 2018 Closed Sales: down 4.2% versus May 2017. Year-to-date, closed sales were down 0.9% (more to do with lack of inventory than diminished buyer interest).
May 2018 Pending Sales: up 9.7% versus May 2017 and up 2,4% year-to-date.
May 2018 Average List Price: increased 6.9% to just over $341,000 versus May 2017. Year-to-date, average list prices are up 5.6% to just under $335,000.
May 2018 Average Sale Prices: up 10.7% to just under $300,000 versus May 2017 and up 7.5% year-to-date to just over $283,000. Median Sale Price was also up 9.5% to $245,000 as compared with May 2017 and up 9.3% year-to-date to $233,000.
May 2018 Percent of Original List Price Received: up 0.2% compared with May 2017 to 97.5% and up 0.2% year-to-date to 97.0%.
May 2018 Inventory of Homes for Sale: down 20.0% versus May 2017 and down 1.3% year-to-date.
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