First quarter 2016 Charlotte, North Carolina region's home sales continued the positive trends we've seen since 2015. Home buyers are finding the housing market increasingly competitive with higher home prices and a lack of properties to buy. Buyers looking for a bargain are "hard pressed" these days to find one. Meantime, home sellers are seeing their homes sell quickly and for top dollar.
In the first quarter of 2016, the Carolina Region saw a:
- 4.0% increase in average sale prices
- 27.8% decrease in inventory of homes for sale
- 0.3% increase in closed sales
- 35.7% decrease in the months supply of homes
- 11.5% decrease in days on market
- 1.2% increase in the 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 less than 2 months of inventory at the end of the fourth quarter. Union and York County both had less than 3 months of inventory. Lancaster County had 3.2 months. It's clearly a seller's market in these four counties. And the lack of inventory is also causing a drop in closed sales, as buyers increasingly need more time to find a home.
Mecklenburg County, NC (where Charlotte City is located):
- Average Sale Price: +3.3% versus one year ago.
- Inventory of Homes for Sale: down 33.1% versus one year ago.
- Closed Sales: -0.4% versus one year ago.
- Months Supply of Homes for Sale: 1.8 months, down 40.2% versus one year ago.
- Average Days on Market: 54 days, down 15.1% versus one year ago.
Union County, NC:
- Average Sale Price: +0.6% versus one year ago.
- Inventory of Homes for Sale: down 25.6% versus one year ago.
- Closed Sales: -5.7% versus one year ago.
- Months Supply of Homes for Sale: 2.7 months, down 29.1% versus one year ago.
- Average Days on Market: 69 days, down 7.0% versus one year ago.
York County, SC (where Fort Mill, Tega Cay, and Rock Hill are located):
- Average Sale Price: +9.3% versus one year ago.
- Inventory of Homes for Sale: down 22.8% versus one year ago.
- Closed Sales: +4.3% versus one year ago.
- Months Supply of Homes for Sale: 2.7 months, down 29.7% versus one year ago.
- Average Days on Market: 64 days, down 18.1% versus one year ago.
Lancaster County, SC
- Average Sale Price: +6.3% versus one year ago.
- Inventory of Homes For Sale: -13.8% versus one year ago.
- Closed Sales: +7.0% versus one year ago.
- Months Supply of Homes for Sale: 3.2 months, down 27.5%
- Average Days on Market: 73 days, +13.8% versus one year ago.
See the charts below for more detailed information on 4th quarter home sales statistics:
SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE
SEARCH ALL UNION COUNTY HOMES FOR SALE
SEARCH ALL YORK COUNTY HOMES FOR SALE HERE
SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE
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