Charlotte, NC Region Housing Market Update/Video: 2nd Quarter 2018

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

 

Charlotte, NC Region Housing Market Update: 2nd Quarter 2018

 

Second quarter 2018 Charlotte, North Carolina region's home sales continued the 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.  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 2018 might well be about the continued decreases in the supply of homes available for sale across the region. It's worth pointing out that this "story" is now an "old" story, because that was also the story of 2016 and 2017.

 

 

 

 

In the second quarter of 2018, the Charlotte region saw a:

  • 7.9% increase in average sale prices
  • 17.2% decrease in inventory of homes for sale
  • 2.4% decrease in closed sales
  • 19.5% decrease in the months supply of homes (2.3 months supply)
  • 14.1% decrease in days on market (39 days on market)
  • 97.6% percent of original price received

 

 

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. Mecklenburg County had just 1.8 months of inventory at the end of the second quarter. Union, York, and Lancaster Counties had 2.7 months of inventory or less.  It's clearly a seller's market in these four Charlotte metro area counties and the lack of affordable inventory to meet demand continues to be "the story of the day." This lack of inventory is also impacting home prices, dampening sales in many parts of the region, and affecting affordability.

 

Mecklenburg County, NC (where Charlotte City is located):

  • Average Sale Price: up 8.1% versus one year ago.
  • Inventory of Homes for Sale: down 12.2% versus one year ago.
  • Closed Sales: down 4.4% versus one year ago.
  • Months Supply of Homes for Sale: 1.8 months, down 13.6% versus one year ago.
  • Average Days on Market: 29 days, down 2.7% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  up 4.2% versus one year ago.
  • Inventory of Homes for Sale: down 9.4% versus one year ago.
  • Closed Sales:  up 7.5% versus one year ago (reversing the downward trend of the first quarter).
  • Months Supply of Homes for Sale: 2.7 months, down 13.9% versus one year ago.
  • Average Days on Market: 43 days, down 11% versus one year ago.

 

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

  • Average Sale Price: up 3.1% versus one year ago.
  • Inventory of Homes for Sale: down 6.8% versus one year ago.
  • Closed Sales:  up 2.2% versus one year ago.
  • Months Supply of Homes for Sale: 2.4 months, down 9% versus one year ago.
  • Average Days on Market: 40 days, down 11.8% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 1.3% versus one year ago.
  • Inventory of Homes For Sale:  down 8.1% versus one year ago.
  • Closed Sales: up 15.5% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 27.9%. 
  • Average Days on Market:  55 days, up 17.7% versus one year ago (due in part to considerable new construction in Lancaster County).

 

 

See the charts below for more detailed information on 2nd quarter 2018 home sales statistics:

 

Mecklenburg County Housing Update 2nd Quarter 2018

 

 

SEARCH MECKLENBURG COUNTY HOMES FOR SALE

 

 


 

Union County, NC 2nd quarter 2018 housing data

 

SEARCH UNION COUNTY HOMES FOR SALE

 

 


 

York County, SC 2nd Quarter Housing Data

 

SEARCH YORK COUNTY HOMES FOR SALE HERE

 

 


 

Lancaster County, SC 2nd Quarter 2018 Housing Data
 

 

SEARCH LANCASTER COUNTY HOMES FOR SALE HERE 



 

 

Charlotte Region Housing Market Report: 1st Quarter 2018

Charlotte Region Housing Market Report: 4th Quarter 2017

 

Charlotte Region Housing Market Report: 3rd Quarter 2017

 

This quarterly Charlotte, NC region housing market update is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executiveyour Charlotte metro area residential real estate experts. 

 

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."

 

 

Posted by

 

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
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager  thanks, Patricia. I don't always understand why other agents don't do some of this... all the data is readily available in our mls... just use it to tell a story!

Jul 11, 2018 06:13 AM #3
Rainmaker
4,530,841
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 keeping us informed about the real estate market in Charlotte, NC.

Jul 11, 2018 06:13 AM #4
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox hi Joan... inventory is not really improving. First of all, we are out of the spring selling months and it typicallys slows down in terms of new listings in July and August. And much of the new inventory where it's improving is in new construction, which these days is housing way above average price points. 

Jul 11, 2018 06:14 AM #5
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders good morning to you, Gabe. Thanks much for popping by. Trust you week is moving along swimmingly.

Jul 11, 2018 06:15 AM #6
Rainmaker
2,157,270
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

As you have mentioned many times before, looks like inventory needs to increase for this hot market to continue.

Jul 11, 2018 06:38 AM #7
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... headlines in the paper today also that fast rising prices are pushing people out of the Charlotte market.

Jul 11, 2018 06:40 AM #8
Rainmaker
1,647,412
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - Your market report is complete and full of usefull information.

Jul 11, 2018 07:16 AM #9
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... thanks... of course, at the end of the day, that's the idea isn't it... to provide value added information.

Jul 11, 2018 07:21 AM #10
Rainmaker
1,417,140
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Nina Hollander, great, helpful information. Educated buyers and sellers make better decisions. Hope you'll see an increase in the inventory soon.

Jul 11, 2018 08:32 AM #11
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Beth Atalay hi Beth...educated buyers and sellers are the best clients because they make decisions in a rational way.

Jul 11, 2018 10:37 AM #12
Rainmaker
1,398,380
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Nina, you are always on top of the market trends - you know what's happening well before the numbers are in and that's a true pulse on the market. Inventory is definitely needed!

Jul 11, 2018 10:49 AM #13
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Amanda S. Davidson hi Amanda... at the end of the day, any idiot can open doors for buyers; what's important for buyers is not a door opener, but someone who can help them make rational decisions based on market realities.

Jul 11, 2018 11:01 AM #14
Ambassador
1,648,219
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

The only thing not decreasing is the demand - and the prices.  Man, this really tells a story. 

Jul 11, 2018 12:56 PM #15
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD hi Debb... this is a story with a possible ending that has me quite worried. Especially in a city like Charlotte where we've always been know for our housing affordability.

Jul 11, 2018 02:19 PM #16
Rainmaker
2,087,438
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

Hi Nina: At least you have a story for why the inventory is low in Charlotte and how that affects sales. In Sacramento, our inventory exploded but our sales are still low, and that's not good.

Jul 11, 2018 06:28 PM #17
Ambassador
2,848,998
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I am so happy that your 2nd quarter of 2018 in the Charlotte, North Carolina region's home sales has continued the momentum you've enjoyed since 2015 Nina. Let's close out the year on the same note 

Jul 11, 2018 09:57 PM #18
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents you're right about that, Elizabeth. We could use a small "explosion" of affordable inventory to boost our sales. I have a feeling everything, if priced right, would sell quickly we have so much pent-up demand.

Jul 12, 2018 03:24 AM #19
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, good morning, Paul... I'd like to end this year with more closed sales in the Charlotte region after more listings come on the market.... so far I'm not seeing any trends towards that, especially in affordable homes.

Jul 12, 2018 03:25 AM #20
Rainmaker
901,997
Joyce Marsh, Daytona Beach Florida
Joyce Marsh Real Estate - Daytona Beach, FL
Coastal Homes and Lifestyles

Your local reports and updates are very helpful for those looking to buy or sell real estate and are always filled with lots of valuable info. Thanks for the update Nina.  Hope your business is doing great in Charlotte!

Jul 18, 2018 07:05 AM #21
Rainmaker
2,627,830
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joyce Marsh, Daytona Beach Florida thanks, Joyce... my business is doing fine, but more stressful than normal with our lack of inventory finding homes for buyers.

Jul 18, 2018 10:02 AM #22
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