Home Sales Surged In November 2016, Nationally And In Charlotte, NC

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

The November 2016 housing market update from the National Association of Realtors (NAR) revealed that sales are now at an annual pace of 5.61 million, which is "now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million)."

 

 

Existing Home Sales Surge In November 2016

 

Additionally, the NAR existing home sales report showed that inventory has dropped year-over-year for the last 18 months, while the median price for all home sales in November was up 6.8% from last year and marked the 57th consecutive month of year-over-year gains for media sale prices.

 

 

How The Charlotte, North Carolina Housing Market Compared To National Averages In November:

 

  • Charlotte Region Average Sale Price: up 8.1% compared with a 6.8% increase nationally.
  • Charlotte Region Sales: up 19.7% compared with a 15.4% increase nationally.
  • Charlotte Region Inventory:  down 24.9% compared with a 9.3% decrease nationally.

 

Despite double digit decreases in Charlotte region's inventory month after month, home sales in the Charlotte region continue on an upwards trajectory and doing better than national averages. But without a doubt, the lack of inventory is fueling increasing home prices as demand outstrips supply.

 

 

LOOKING FOR A HOME IN THE CHARLOTTE AREA? CAROLINAS REALTY PARTNERS CAN HELP!

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Free Market Snapshot For Charlotte Area Neighborhoods

 

This Charlotte, NC region housing market update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, 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 

"The Right Broker Makes All The Difference."

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, MBA, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive
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 - 2017 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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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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Rainmaker
1,236,927
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

Nina Hollander our inventory here is finally at a pretty good level and so are prices. A boom is exciting but I could eaisly live without another one.

Dec 27, 2016 05:09 AM #1
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ hi Bob... I find any extremes in the market difficult to work in. I'd rather just have a nice, steady market without too many ups and downs, myself.

Dec 27, 2016 05:22 AM #2
Rainmaker
1,487,800
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

You have been busy with all your market reports - I hope that it brings you lots of business in 2017

Dec 27, 2016 05:49 AM #3
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe ~ hi Lise... I keep putting them out there, but not really convinced they are working. Maybe 2017 will be the breakout year.

Dec 27, 2016 05:59 AM #4
Rainmaker
3,565,375
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, so glad to hear your Charlotte market is still on fire, and hope this continues through 2017! 

Dec 27, 2016 06:57 AM #5
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... the lack of inventory is what keeps fueling our market. So far, I don't see any changes to this situation for the forseeable future.

Dec 27, 2016 07:02 AM #6
Ambassador
3,611,693
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Nina

Interesting read. It was a mixed bag here in my area. Some communities saw more homes sell in November than in October while others, including Carlsbad, saw a decline from October sales. But we did see another increase in prices, both from October as well as year-over-year, in a number of communities including Carlsbad.

Jeff

Dec 27, 2016 07:41 AM #7
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeff Dowler ~ hi Jeff... we see the same in the Charlotte area... some communities selling like mad, others a bit slower. But prices definitely up across the board here.

Dec 27, 2016 08:46 AM #8
Rainmaker
2,631,284
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina Hollander, You do have a hot market and you are working it girl.  Hope you have a great day!

 

Dec 27, 2016 09:33 AM #9
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ hi Will... that "hot" market is keeping inventory very thin and frustrating many buyers, unfortunately. Have a super day yourself.

Dec 27, 2016 09:42 AM #10
Rainmaker
4,049,326
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Anyone thinking of buying or selling a home in your market area should call you.

Dec 27, 2016 12:35 PM #11
Rainmaker
2,441,840
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thank you, as always, Gita, for stopping by and taking time to write a nice comment!

Dec 27, 2016 01:03 PM #12
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Rainmaker
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