What Happened In The Charlotte Region Housing Market: 2nd Quarter 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage
https://activerain.com/droplet/4T84

Second 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 very 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, when priced right for condition and location.

 

In the second quarter of 2016, the Carolina Region saw a:

  • 5.7% increase in average sale prices
  • 23.3% decrease in inventory of homes for sale
  • 5.1% increase in closed sales
  • 30.3% decrease in the months supply of homes 
  • 18.0% decrease in days on market
  • 1.3% increase in the percent of original price received

 

2nd Quarter Housing Market Update Carolina MLS

 

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 barely 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 3.1 months. It's clearly a seller's market in these four counties and the lack of inventory to meet demand continues to be "the story of the day."

 

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

  • Average Sale Price: +5.7% versus one year ago.
  • Inventory of Homes for Sale: down 26.9% versus one year ago.
  • Closed Sales: +1.1% versus one year ago.
  • Months Supply of Homes for Sale: 2.1 months, down 32.4% versus one year ago.
  • Average Days on Market: 36 days, down 25.2% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  +1.2% versus one year ago.
  • Inventory of Homes for Sale: down 17.3% versus one year ago.
  • Closed Sales: +6.4% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 32.4% versus one year ago.
  • Average Days on Market: 52 days, down 21.1% versus one year ago.

 

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

  • Average Sale Price: +6.8% versus one year ago.
  • Inventory of Homes for Sale: down 14.6% versus one year ago.
  • Closed Sales:  +4.5% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 29.1% versus one year ago.
  • Average Days on Market: 52 days, down 19.4% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price: +8.4% versus one year ago.
  • Inventory of Homes For Sale: -13.8% versus one year ago.
  • Closed Sales: +12.7% versus one year ago.
  • Months Supply of Homes for Sale: 3.1 months, down 28.2% 
  • Average Days on Market:  59 days, -16.6% versus one year ago.

 

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

 

2nd Quarter 2016 Housing Market Report For Mecklenburg County, NC

 

SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE

 


 

 

2nd Quarter 2016 Housing Market Report For Union County, NC
  

SEARCH ALL UNION COUNTY HOMES FOR SALE

 


 

 2nd Quarter 2016 Housing Market Update For York County, SC

 

  

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

 

 


 

 

2nd Quarter Housing Market Update For Lancaster County, SC  

 

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE

 


 

 

Want to stay on top of the market trends in your Charlotte metro neighborhood?

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 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

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

2007 - 2018 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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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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Topic:
Real Estate Market Trends
Location:
North Carolina
Groups:
City and State
Charlotte NC Real Estate
Market Reports
Tags:
charlotte real estate
charlotte area homes for sale
charlotte region housing market update
charlotte region housing market update 2nd quarter 2016
how did the charlotte region housing market do in the 2nd quarter of 2016

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Rainmaker
3,211,408
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

 A thoughtful and well reserched report Nina Hollander ...graphically pleasing and not the same old/same old numbers only....great job !

Jul 08, 2016 09:42 PM #1
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sally K. & David L. Hanson ~ thanks much, Sally and David. I'm a bit of a numbers geek, but I know many people aren't, so I try to make it easy to look at and to digest the message.

Jul 08, 2016 09:46 PM #2
Rainmaker
831,656
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Nina Hollander thanks for sharing your positive results - another reason you are the "go to" agent for Charlotte NC, area homes!

Jul 08, 2016 09:50 PM #3
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jennifer Mackay ~ thanks Jennifer... hope your weekend is getting off to a great start. I'm off to show 15 houses today! Nothing like 100 degree heat in which to do it!

Jul 08, 2016 10:02 PM #4
Rainmaker
3,201,422
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Your report solidifes the need for a professional to navigate the current real estate waters in you area! Enjoy your day!

Jul 08, 2016 11:07 PM #5
Rainmaker
3,100,425
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Nina Hollander, As always you know your numbers and sellers should turn to you to sell their homes.  Make it a great day!

Jul 08, 2016 11:17 PM #6
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is good information for home buyers and sellers in the area. 

Jul 08, 2016 11:24 PM #7
Ambassador
1,613,568
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Information is power and you have it. Go sell this weekend.

Jul 08, 2016 11:31 PM #8
Ambassador
1,769,785
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Nina you have provided an excellent Charlotte market report. Great graphs and tools for your clients.

Jul 08, 2016 11:41 PM #9
Rainmaker
1,870,521
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Nina - a very thorough and easy to understand report.  This is why you are the go to agent for homes in the Charlotte area.

Jul 09, 2016 01:45 AM #10
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider ~ good morning, Grant... and thank you. As always, very appreciative that you take the time to stop by and comment.

Jul 09, 2016 09:16 PM #11
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Noah Seidenberg ~ thanks, Noah. As I always tell my clients, my role is not to be a door opener, but a resource to help them interpret the market and make the right decision.

Jul 09, 2016 09:16 PM #12
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Harry F. D'Elia ~ good morning, Harry. Knowledge is power... as for selling this weekend, still recovering from 15 showings yesterday and about to leave for a packed morning of showings.

Jul 09, 2016 09:17 PM #13
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ good morning, Gita... and thanks.

Will Hamm ~ good morning, Will. Thanks. (Got your message on Friday evening; I've been out showing all day Friday, Saturday, and most of today... haven't come up for air to return any calls that didn't have to do with my clients. Hope you are having a productive weekend.)

Jul 09, 2016 09:19 PM #14
Rainmaker
3,014,149
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... my #1 message to buyers is that my role isn't to open doors and that any idiot can unlock a door. My role is to help them make the right purchase decisions.

Jul 09, 2016 09:21 PM #15
Rainmaker
5,307,762
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families moving to the area will appreciate your local community reports.

Jul 09, 2016 10:11 PM #16
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