RE/MAX National Housing Report: May 2018 | How Charlotte, NC Compares

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Real Estate Agent with Coldwell Banker Residential Brokerage | Charlotte, NC

 

 

RE/MAX May 2018 National Housing Report

 

 

The RE/MAX National Housing Report for May 2018:  "Prices Rise 7.8%, But Homes Selling Faster and Faster" was this month's headline.  In May, homes sold faster than at virtually any other time in the past decade, according to the latest RE/MAX National Housing Report. Low inventory and high demand in May cut Days on Market to 46, the second-lowest monthly number in the nearly 10-year history of the report.

 

To quote Adam Contos, RE/MAX CEO: “ Be prepared — that’s my message to potential homebuyers in this summer selling season. Make sure you are pre-approved with a lender, try to make a clean offer with no contingencies and, if possible, consider offering favorable concessions to the seller such as a flexible closing date. Pairing today’s real estate technology with the guidance of a professional RE/MAX agent, can help you find the right home.”

RE/MAX National Housing Report Infographic May 2018

 

 

For a more detailed review, click here for the latest RE/MAX National Housing Report.

 

 

How Charlotte, North Carolina's region hosusing compared to national statistics in May 2018:

 

The RE/MAX National Housing May 2018 Report's headline could be used for the Charlotte region's home sales in May, as well:  "Prices rise, but homes selling faster and faster."

 

  • Median sale price of Charlotte region homes was up 9.5% compared with May 2017 versus 7.8% nationally. Charlotte area's median price sale of $245,000 in May is very close to the national median home sale price, increasing from $223,750 just one year ago.
     
  • Closed sales in Charlotte region were down 4.2% compared with an increase of 2.8% nationally in May 2018. Extreme lack of affordable inventory in Charlotte contributed to this decrease.
     
  • Months supply of homes in the Charlotte region was 2.2 months, down 24.1% versus May 2017. Charlotte region's months supply of homes remains lower than the national average of 2.5 months, putting pressure on both closed sales and home prices.

  • Average days on market in the Charlotte region compared well with national averages of 60 days with days on market until sale in Charlotte at 38 days (down 8 days and 17.4% year-over-year). Cumulative days on market in Charlotte in May 2018 were 46. The lower days on market could be attributed to diminishing inventory in the Charlotte region.

 

 

 

More information about how the Charlotte, NC region housing market performed in May 2018

 

With continuing demand for homes and rising home prices due to lack of inventory, it may be the perfect time to sell your home. It may also be the perfect time to buy a Charlotte area home before both home prices and interest rates rise further.

 

  

This real estate monthly update is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area residential real estate experts.

 

SEARCH ALL CHARLOTTE, NC REGION HOMES FOR SALE

 

Search all Charlotte Region Homes For Sale

 

FIND OUT WHAT YOUR CHARLOTTE, NC REGION HOME IS WORTH

 

Find our what your Charlotte Region home is worth in today's market

 

 

 

 

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."

 

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, CRS, 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
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Jun 17, 2018 09:31 AM #1
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... thank you for popping by... trust you are enjoying your weekend. Stinking hot here in Charlotte (especially for June).

Jun 17, 2018 10:11 AM #2
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Rainmaker
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