Charlotte, NC Region's 2017 Housing Market Quick Facts At A Glance

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

 

How did the Charlotte metro area's housing market perform in 2017? Here's the 2017 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 FOUR years in a row. With only two months of inventory, 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. Closed sales are also being impacted negatively due to the lack of inventory.

 

Charlotte Metro Area's 2017 Housing Market At A Glance:

  • Median Sale Price ~ up 9.2% in 2017 to $226,000
     
  • Average Sale Price ~ up 5.8% in 2017 to $272,900
     
  • Days On Market (List to Close) ~ down 9.3% in 2017 to 97 days
     
  • Closed Sales ~ up 5.9% in 2017 to 47,353 units
     
  • Pending Sales ~ up 6.3% in 2017 to 48.100 units
     
  • Percent Of Original List Price Received ~ up 0.7% to 96.9% in 2017
     
  • New Listings ~ up 5.0% in 2017 to 58,378 units
     
  • Inventory Of Homes For Sale ~ down 19.4% to 8,019 units (the lowest amount of inventory since 2011)
     
  • Distressed Homes Sold ~ down 34.6% in 2017, representing just 1.8% of total sales

 

2017 Charlotte Housing Market Quick Facts

2017 Charlotte NC Housing Market Quick Facts

 

 

LOOKING FOR YOUR DREAM 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 2017 HERE

 

Charlotte, NC Housing Market At A Glance: 2016

Charlotte, NC Housing Market At A Glance: 2015

 

This Charlotte, NC region housing market update for 2017 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'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

Originally posted at: https://www.greathomesincharlotte.com/charlotte-nc-2017-housing-market-at-a-glance 

 

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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, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 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
286,244
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Nina - you are seeing what we are as well.  Lack of inventory is the issue.  And lack of inventory with strong demand leads to escalating prices. 

Jan 12, 2018 10:26 AM #1
Rainmaker
1,995,432
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Hello Nina: Well, at least you have two months of inventory in Charlotte. That is something. Last summer our inventory dropped to 3 weeks in Sacramento, and I expect to see even more limited inventory in 2018.

Jan 12, 2018 10:27 AM #2
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... the two months is a region average and the region is huge. In many parts of the immediate Charlotte area, it's barely one month... and in some areas after you factor out new contruction we are talking about a half month's inventory. 

Jan 12, 2018 10:29 AM #3
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lynnea Miller ~ hi Lynnea... not just rising prices, but slow downs in closed sales (at least here in our area). There's an entire category of buyer who can't afford a house anymore.

Jan 12, 2018 10:30 AM #4
Rainmaker
532,006
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Nice summary Nina Hollander that really provides great information to the consumer.  The charts are really great too!  Nice job..

Jan 12, 2018 10:52 AM #5
Ambassador
3,470,672
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina except for the inventory everything else is coming up roses in the North Carolina Region!!!

Jan 12, 2018 10:57 AM #6
Ambassador
2,706,055
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

This is new Nina Hollander! I like your quick facts market report! 

Jan 12, 2018 12:29 PM #7
Rainmaker
1,958,152
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It's always good to see that all is well in the Charlotte area and that my friend Nina is hopefully getting plenty of business!

Jan 12, 2018 12:41 PM #8
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ all is well in Charlotte-land... but a bit more business never hurts, no matter how busy I am.

Jan 12, 2018 03:16 PM #9
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ hi Paul... thanks, I do this each year to recap results of the prior year.

Jan 12, 2018 03:17 PM #10
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George... we are desperate for inventory. I wish you could send us some of your houses to sell!

Jan 12, 2018 03:17 PM #11
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gloria Valvasori, Accredited Senior Agent ~ thanks, Gloria. The charts come out of our MLS... too many agents just don't know how to use the wealth of information we have at our fingertips to provide to our clients and public.

Jan 12, 2018 03:18 PM #12
Rainmaker
2,339,315
Rebecca Gaujot, Realtor®
Perry Wellington Realty, Adam Conrad, Broker - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Nina, great information in the reporting of Charlotte's quick facts on the real estate market.

Jan 12, 2018 08:06 PM #13
Rainmaker
3,522,533
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, nice update to show how Charlotte's real estate market is truly on fire, and all good news, except thininventory!  

Jan 13, 2018 05:11 AM #14
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Rebecca Gaujot ~ thanks, Rebecca.... appreciate your popping by and taking time to leave a comment. Happy weekend!

Jan 13, 2018 05:31 AM #15
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ good morning, Joan... that thinventory is really beginning to impact sales here.

Jan 13, 2018 05:31 AM #16
Rainmaker
4,602,325
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Jan 13, 2018 09:11 AM #17
Rainmaker
2,389,448
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy. Hope you are staying warm. Friday it was 70 degrees here in Charlotte and now it's 23 degrees! No wonder everyone is sick!

Jan 14, 2018 05:04 AM #18
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