How did the Charlotte metro area's housing market perform in 2016? Here's the 2016 market "at a glance." All the critical indicators of a robust housing market show improvement year-by-year since 2011, with the exception of the inventory of homes available for sale, which has dropped now for three years in a row. In my mind, this is the most critical aspect of our market right now -- availability of homes for buyers to purchase. And it's the supply of homes, or rather lack thereof, that is helping drive Charlotte are home prices up and the housing affordability index down as demand continues to outstrip supply.
Charlotte Metro Area's 2016 Housing Market At A Glance:
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Median Sale Price ~ up 7.5% in 2016 to $207,000
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Average Sale Price ~ up 6.5% in 2016 to $257,701
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Days On Market (List to Close) ~ down 8.1% in 2016 to 107 days
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Closed Sales ~ up 8.4% in 2016 to 44,386 units
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Pending Sales ~ up 10.9% in 2016 to 45,764 units
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Percent Of Original List Price Received ~ up 1.3% to 96.2% in 2016
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New Listings ~ up 3.4% in 2016 to 55,390 units (the number of listed properties has essentially been flat since 2013)
- Inventory Of Homes For Sale ~ down 25.7% to 8.747 units (the lowest amount of inventory since 2011)
LOOKING FOR A HOME IN THE CHARLOTTE AREA? CAROLINAS REALTY PARTNERS CAN HELP!
WONDERING WHAT YOUR CHARLOTTE AREA HOME IS WORTH IN TODAY'S MARKET?
SEARCH ALL CHARLOTTE AREA HOMES FOR SALE HERE
FIND MORE INFORMATION ABOUT THE CHARLOTTE METRO AREA'S HOUSING MARKET IN 2016 HERE
This Charlotte, NC region housing market update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your 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:
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