RE/MAX National Housing Report:
October 2016 Housing Data
The RE/MAX National Housing Report for November 2016: "October Sees Near Record Sales" is the "story of the month," with home sales being the second highest and inventory the lowest of any October since RE/MAX began publishing this monthly update some nine years ago.
To quote Dave Liniger, Chairman and CEO of RE/MAX: “Although October sales weren’t quite as robust as what we've tracked so far in 2016, it's only the second month this year that didn’t exceed the strong levels set in 2015. But finishing just 1 percent below October 2015 sales is still a very solid performance. It’s the 13th consecutive month of double-digit decline in inventory year-over-year, and that appears to have pushed prices up in all but one market.”
For a more detailed review, click here for the latest RE/MAX National Housing Report.
How Charlotte, North Carolina's region compared to national statistics in October 2016:
Closed sales in the Charlotte region were up 3.4% compared with October 2015 (and up 7.0% on a year-to-date basis). This compares very favorably with national averages where October 2016 sales were down 1% in October 2016.
Median sale price of Charlotte region homes was up 12.7% compared with October 2015 (and up 6.8% on a year-to-date basis as compared with 8.3% for national statistics). Charlotte area's median price sale is catching up with national averages at $209,000.
Months supply of homes in the Charlotte region was 2.8 months, down 30.0% versus October 2015. This too compares favorably with the national average of 3.9 months. Charlotte is much more of a seller's market, while the national market is more balanced between buyers and sellers.
- Inventory of homes in the Charlotte region was down 23.1% in October 2016 (compared with national figures down at 15.9%) as compared with one year ago.
With continuing demand for homes and rising home prices it may be the perfect time to sell your home. It may also be the perfect time to buy a home before prices rise further.
This real estate monthly update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that: