Charlotte Huntersville Matthews Area Home Sales for April, 2018

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Real Estate Broker/Owner with Carolina Buyers Agent C 10204

The latest numbers on Charlotte, NC homes seem to echo the same unyielding trends we’ve been reporting on for some time: slim inventory, rising prices, and limited options for homebuyers. However, we’re seeing strong hints that change is coming.

The latest numbers indicate that homebuilders are responding to continued consumer demand. As of April 30, the number of new listings increased by .7%. However, the inventory of homes for sale had fallen yet again from a year previously, this time by 2,493 homes. That’s a decrease of 22.6% from April, 2017, offering a hungry market only 8,515 homes. This left potential homebuyers with only a 2.1 months supply of homes for sale, a drop of 25% from last year. This continuing and mostly unfulfilled demand for Charlotte homes nudged the median sales price by $16,502, an increase of 7.4%. However, one sign that the steamroller of surging home prices may be losing a little of its steam is the modest increase in the percentage of original price received from 97.2% last April to its present level of 97.4%, a gain of only .2%.

One factor strongly suggesting coming changes in the Charlotte real estate market is Charlotte’s long-term economic vitality. Wages and consumer spending are up, strong positive indicators for the housing market. Our continued robust economy should assure builders and lenders that building new homes is a sound money-making proposition. The persistent demand for homes by buyers who have been hanging in there despite an overwhelming seller’s market testifies to growing consumer confidence.

Also, both buyers and their agents have learned how to cope with current realities. The miniscule rise in the percentage of original price received suggests that homebuyers and their agents are finding new strategies for bargaining with sellers. Mortgage rate increases, once nearly unthinkable, are one of the new realities we must all adapt to, adding more complexity to the market. Those who don’t – or can’t – adapt will be left behind.

For more detail of sales figures in the greater Charlotte Metro area, see the individual reports for Charlotte, Matthews, and Huntersville.

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North Carolina Mecklenburg County Charlotte

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Rainmaker
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Paul Antonelli
NextHome Antonelli Realty - Saint Cloud, FL
Broker Owner; NextHome Antonelli Realty

Here in central Florida, we've seen an uptick in new construction home as well. 

May 17, 2018 08:37 AM #1
Ambassador
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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thanks for taking the time to share this real estate market insight.  This is exactly the type of information that buyers and sellers need to make informed decisions.

May 18, 2018 07:41 AM #2
Rainmaker
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Joyce Marsh, Daytona Beach Florida
Premier Sotheby's International Realty - Daytona Beach, FL
Two Decades Of Experience Selling Luxury Homes...

Thank you for sharing the latest Market report on this segment of the real estate market. 

May 18, 2018 08:39 AM #3
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Rainmaker
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