What Happened In Charlotte Region's Housing Market ~ 4th Quarter 2016

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

Fourth quarter 2016 Charlotte, North Carolina region's home sales continued the positive trends we've seen all year and 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" to find one.  Meantime, home sellers are seeing their homes sell quickly and for top dollar, when priced right for condition and location. The "story" of the fourth quarter 2016 might well be about the double-digit decrease in the supply of homes available for sale across the region.

 

In the fourth quarter of 2016, the Charlotte region saw a:

  • 8.0% increase in average sale prices
  • 25.7% decrease in inventory of homes for sale
  • 11.7% increase in closed sales
  • 33.0% decrease in the months supply of homes (2.3 months supply)
  • 17.8% decrease in days on market
  • 1.2% increase in the percent of original price received

 

4th Quarter 2016 Housing Report For Charlotte Region

 

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 only 1.5 months of inventory at the end of the fourth quarter. Union, York and Lancaster Counties all had 2.5 months or less of inventory. It's clearly a seller's market in these four Charlotte metro area 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: up 7.5% versus one year ago.
  • Inventory of Homes for Sale: down 29.4% versus one year ago.
  • Closed Sales: up 9.1% versus one year ago.
  • Months Supply of Homes for Sale: 1.5 months, down 34.5% versus one year ago.
  • Average Days on Market: 39 days, down 17.2% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  up 12.8% versus one year ago.
  • Inventory of Homes for Sale: down 22.2% versus one year ago.
  • Closed Sales:  up 14.5% versus one year ago.
  • Months Supply of Homes for Sale: 2.2 months, down 30.4% versus one year ago.
  • Average Days on Market: 51 days, down 18.3% versus one year ago.

 

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

  • Average Sale Price: up 8.4% versus one year ago.
  • Inventory of Homes for Sale: down 21.1% versus one year ago.
  • Closed Sales:  up 14.6% versus one year ago.
  • Months Supply of Homes for Sale: 2.2 months, down 30.0% versus one year ago.
  • Average Days on Market: 53 days, down 9.8% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 3.4% versus one year ago.
  • Inventory of Homes For Sale:  down 13.0% versus one year ago.
  • Closed Sales: up 3.3% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 22.4%. 
  • Average Days on Market:  55 days, down 24.0% versus one year ago.

 

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

 

4th quarter 2016 housing report for mecklenburg county, nc

SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE

 


 

 

4th quarter 2016 housing market report for union county, nc
  

SEARCH ALL UNION COUNTY HOMES FOR SALE

 


 

 4th quarter 2016 housing market report york county, sc

   

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

 

 


 

4th quarter 2016 housing report for lancaster county, sc 

  

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE

 


 

 

Charlotte Region Housing Market 3rd Quarter 2016 Report
 

Charlotte Region Housing Market 2nd Quarter 2016 Report

 

Charlotte Region Housing Market 1st Quarter 2016 Report

 

 

This quarterly Charlotte, NC region housing market update is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executiveyour Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

Posted by

 

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

 

 Connect with me also on these sites:  

 

facebook google plustwitterlinkedinpinterest

  

                                                                                                                                          

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

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
North Carolina
Groups:
Charlotte NC Real Estate
Charlotte North Carolina Area
Market Reports
2017 Market Trend Reports
Tags:
4th quarter 2016 charlotte nc housing report
4th quarter 2016 mecklenburg county nc housing report
4th quarter 2016 union county nc housing report
4th quarter 2016 york county sc housing report
4th quarter 2016 lancaster county sc housing report

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,450,651
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Nina Hollander ,

Wow! What a detailed and informative real estate market report in Charlotte NC..you have an excellent market and no doubt many followers wait to read your posts and call you for guidance!

Jan 12, 2017 05:22 AM #1
Rainmaker
2,689,485
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Nina. Competition among listing agents is going to get tougher! The cream will rise to the top. Anybody joining you? Enjoy your day!

Jan 12, 2017 05:28 AM #2
Rainmaker
1,433,548
Sandy Padula and Norm Padula, JD, GRI
Realty National - Carlsbad, CA
Presence, Persistence & Perseverance

Nina Hollander By the looks of your report, you are headed for contiuned home appreciation as inventories continue the negative trend.  Good report!

Jan 12, 2017 05:35 AM #3
Rainmaker
2,862,338
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Good report on the Charlotte Real Estate Market. Yes, lack of inventory is happening here too!

Jan 12, 2017 05:46 AM #4
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 ~ good morning, Sandy and Norm... no doubt home prices in our area will continue to appreciate so long as there is diminishing inventory. Next issue will be continued affordability.

Jan 12, 2017 05:59 AM #5
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... I do like to think I'm in a class by myself (despite being stupid on your daily brain teasers!).

Jan 12, 2017 06:00 AM #6
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dorie Dillard ~ thanks, Dorie. Our market remains competitive because of diminishing inventory and now it's affordability we need to worry about.

Jan 12, 2017 06:01 AM #7
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ thanks, Larry and Sheila. I have to admit, in 18 years I've been in Charlotte I cannot remember barely two months of inventory in the area and in Charlotte itself about 1.5 months! We've had "hot" markets in the past, but we always had inventory.

Jan 12, 2017 06:02 AM #8
Rainmaker
1,237,699
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

What a GREAT market Nina Hollander , wish I was there! 

Jan 12, 2017 08:04 AM #9
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ indeed, Bob... a very good market, but with diminishing inventory and affordability it also provides its own set of challanges.

Jan 12, 2017 08:15 AM #10
Rainmaker
2,633,821
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Nina Hollander, always great reports from you for your area.  Hope you are having a great month.

 

Jan 12, 2017 08:24 AM #11
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ hi Will... thanks. My month is very busy and flying by with what seems to be the speed of lightning!

Jan 12, 2017 08:29 AM #12
Rainmaker
4,654,686
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will certainly appreciate your local real estate market reports.

Jan 12, 2017 08:47 AM #13
Rainmaker
2,444,693
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks much, Roy. Appreciate your taking time to leave me a comment.

Jan 12, 2017 11:02 AM #14
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,444,693

Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
What real estate questions can I answer for you today?
*
*
*
*
Spam prevention

Additional Information