What Happened In Charlotte Region's Housing Market: 2nd Quarter 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Second quarter 2017 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" to find one. Many first-time buyers are being "priced out of the market." Meantime, home sellers are seeing their homes sell quickly and for top dollar, when priced right for condition and location. The "story" of the second quarter 2017 might well be about the continuing double-digit decrease in the supply of homes available for sale across the region, as well as the minimal increase in closed sales due to the lack of inventory. So long as inventory is tight and demand increasing, home prices should continue to increase.

 

In the second quarter of 2017, the Charlotte region saw a:

  • 6.9% increase in average sale prices compared with one year ago
  • 22.5% decrease in inventory of homes for sale compared with one year ago
  • 0.4% increase in closed sales compared with one year ago
  • 29.0% decrease in the months supply of homes (2.3 months supply) compared with one year ago
  • 21.0% decrease in days on market (40 days on average) compared with one year ago (and 12 fewer days than in the first quarter of 2017)
  • 0.9% increase in the percent of original price received compared with one year ago

 

Charlotte Region Housing Market Update Second Quarter 2017

 

SEARCH 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 1.6 months of inventory at the end of the second quarter. Union and York Counties had 2.4 months or less of inventory, while Lancaster County had 3.2 months 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 8.2% versus one year ago.
  • Inventory of Homes for Sale: down 23.1% versus one year ago.
  • Closed Sales: up 2.6% versus one year ago.
  • Months Supply of Homes for Sale: 1.8 months, down 28.6% versus one year ago.
  • Average Days on Market: 29 days, down 19.3% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  up 5.6% versus one year ago.
  • Inventory of Homes for Sale: down 19.9% versus one year ago.
  • Closed Sales: down 11.4% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 21.8% versus one year ago.
  • Average Days on Market: 48 days, down 8.1% versus one year ago.

 

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

  • Average Sale Price: up 6.6% versus one year ago.
  • Inventory of Homes for Sale: up 3.3% versus one year ago.
  • Closed Sales:  down 5.6% versus one year ago.
  • Months Supply of Homes for Sale: 2.3 months, down 27.9% versus one year ago.
  • Average Days on Market: 45 days, down 13.4% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 1.4% versus one year ago.
  • Inventory of Homes For Sale:  down 2.9% versus one year ago.
  • Closed Sales: up 3.2% versus one year ago.
  • Months Supply of Homes for Sale: 3.4 months, down 4.1%. 
  • Average Days on Market: 45 days, down 22.0% versus one year ago.

 

 

2nd Quarter 2017 Mecklenburg County Housing Market Update

SEARCH MECKLENBURG COUNTY HOMES FOR SALE

 


 

 

Union County, NC Housing Market Report Second Quarter 2017 

  

SEARCH UNION COUNTY HOMES FOR SALE

 


 

York County, SC Housing Market Update Second Quarter 2017
    

SEARCH YORK COUNTY HOMES FOR SALE HERE

 

 


 

Lancaster County, SC Housing Market Report For Second Quarter 2017 

  

SEARCH LANCASTER COUNTY HOMES FOR SALE HERE

 


 

  

Wondering What Your Charlotte Region Home Is Worth In Today's Market?

 

 

This quarterly Charlotte, NC region housing market update is brought to you by 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:

 "The Right Broker Makes All The Difference."

 

 

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 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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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
1,492,715
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander , this is great news for Charlotte NC homeowners thinking about selling. They may not even realize the equity they have in their home. Great time to sell!

Jul 12, 2017 03:03 PM #1
Ambassador
1,913,124
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Nina Hollander  Great housing update as always in Charlotte NC

Jul 12, 2017 05:11 PM #2
Rainmaker
3,246,891
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

The Charlotte North Carolina Regional real estate market continues to be very active.

Good luck and success.

Lou Ludwig

Jul 12, 2017 06:03 PM #3
Ambassador
3,982,164
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

You still have a great market but with challenges of keeping enough inventory. I know the sellers are glad that prices continue to rise.

Jul 12, 2017 06:17 PM #4
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debbie Reynolds ~ hi Debbie... sellers are between a rock and a hard place... yes, they love the higher selling prices for their homes, but worry they can't find a replacement home in their budget now.

Jul 13, 2017 03:40 AM #5
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lou Ludwig ~ good morning, Lou. The Charlotte market has been very active for going on four years now... what we need is more activity on the listing side.

Jul 13, 2017 03:41 AM #6
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hannah Williams ~ good morning, Hannah, and thanks. I like doing these updates as the process really helps set numbers and trends in my mind.

Jul 13, 2017 03:41 AM #7
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Beth Atalay ~ hi Beth... unfortunately, we still have some neighborhoods that are not providing a ton of equity if the homeowners purchased new at the height of the market 10 years ago and really paid to upgrade their homes. They might not be under water but they aren't doing better than breaking even still.

Jul 13, 2017 03:43 AM #8
Rainmaker
5,305,040
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families moving to the area will appreciate your local real estate market reports.

Jul 13, 2017 03:57 AM #9
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy. Trust you are staying cool in this hot weather that seems to be hitting many of us.

Jul 13, 2017 04:03 AM #10
Rainmaker
4,796,627
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for the update for the Charlotte real estate market.

Jul 13, 2017 04:24 AM #11
Rainmaker
3,010,915
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ good morning to you, Gabe. And thanks, as always, for taking time to pop by and leave a comment! Have a great day and stay cool.

Jul 13, 2017 04:42 AM #12
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Rainmaker
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