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

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Real Estate Agent with Coldwell Banker Realty 179530

 

 

RE/MAX July 2018 National Housing Report

 

 

The RE/MAX National Housing Report for July 2018:  "Sales Increase Nearly 2%, Despite Record Prices, Sinking Inventory" was this month's headline. July home sales rose 1.8% year-over-year, making it only the second month in 2018 to post a sales increase year-over-year, according to the latest RE/MAX National Housing Report.  37 of the report’s 54 metro areas followed posted sales increases over July 2017.

 

To quote Adam Contos, RE/MAX CEO: "Because we’ve faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead. It could level affordability to some extent and create more opportunity for buyers who’ve been priced out of hot markets.”

 

RE/MAX National Housing Report July 2018

 RE/MAX National Housing Report July 2018

 

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

 

 

How Charlotte, North Carolina's region housing market compared to national statistics in June 2018:

 

The RE/MAX National Housing June 2018 Report's headline could be used for the Charlotte region's home sales in June, as well:  "Record prices, sinking inventory." In Charlotte, this however, is causing a continued downward trend on closed sales.

 

  • Median sale price of Charlotte region homes was up 2.1% compared with July 2017 versus 4.4% nationally. Charlotte area's median price sale of $240,000 in July lagged the national median home sale price of $250,575.
     
  • Closed sales in Charlotte region were down 2.8% compared with an increase of 1.8% nationally in July 2018. Extreme lack of affordable inventory in Charlotte contributed to this decrease.
     
  • Months supply of homes in the Charlotte region was 2.4 months, down 17.2% versus July 2017. Charlotte region's months supply of homes remains lower than the national average of 2.9 months, continuing to put pressure on both closed sales and home prices.

  • Average days on market in the Charlotte region compared well with national averages of 41 days with days on market until sale in Charlotte at 36 days (down 8 days and 14.3% year-over-year). Cumulative days on market in Charlotte in July 2018 were 42 (down a full 7 days compared with one year ago). The lower days on market are attributable to diminishing inventory in the Charlotte region.

 

 

More information about how the Charlotte, NC region housing market performed in July 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."

 

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

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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.

 

Comments (20)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Aug 22, 2018 04:39 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Thanks for the update. In Charlotte buyers need to contact you to navigate a slim inventory efficiently! Enjoy your day!

Aug 22, 2018 04:49 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I went to get a listing last night and again an increasing trend of sellers who say they are moving to N. Carolina. They did not narrow it down yet to where, they are going on a road trip to visit diferent places, but i let them know if they choose Charlotte, I have them covered with a great referral Nina Hollander . 

Aug 22, 2018 05:45 AM
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.

Aug 22, 2018 05:49 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I would say that it appears Charlotte is doing just fine and real estate across the nation seems to be doing just fine too.

Aug 22, 2018 06:16 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina it has been a long time since we have come close to identifying with the National Trend here in Connecticut, but we have gotten much closer in the last few months.

Aug 22, 2018 08:29 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... that is good news for Connecticut, for sure. But it has been a very long haul for the state.

Aug 22, 2018 09:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... the underlying question longer term is how many markets will be negatively impacted by lack of inventory and lower sales due to people being priced out.

Aug 22, 2018 09:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders hi Gabe.... as always, thanks for taking time to stop by. Trust you are having a wonderful Wednesday.

Aug 22, 2018 09:18 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Scott Godzyk  hi Scott... thanks so much for thinking of me... and don't forget that I'm also licensed in South Carolina and sell in the immediate SC counties as well.

Aug 22, 2018 09:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... it's increasingly getting harder to work my inventory magic on entry level buyers!

Aug 22, 2018 09:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal thanks, Gita... and trust your Wednesday and your week are moving along swimmingly.

Aug 22, 2018 09:20 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Nina, for sharing this report.

I hope you are enjoying a most productive week.

Aug 22, 2018 12:26 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley  hi Roy... my week is busy... remains to be seen just how productive it will be! 

Aug 22, 2018 12:40 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

I love seeing your reports, there is always some gems that you share that make them special...A

Aug 22, 2018 02:21 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

When you get a local or national housing market update from Nina Hollander you can depend on the accuracy 🤓...

Aug 22, 2018 07:48 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra... always great to get feedback like this, as sometimes one really has to wonder if anyone reads.

Aug 23, 2018 03:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, good morning, Paul... makes me wonder if I made up a bunch of numbers if anyone would notice or call me on them! 

Aug 23, 2018 03:11 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

Nina, it's interesting to see how the National stats compare to Charlotte. If inventory increased a bit some of those buyers we've talked about might be able to buy vs. continuing being priced out of the market. 

Aug 23, 2018 04:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Amanda S. Davidson good morning, Amanda... more inventory would definitely help level off price increases and help put more entry level buyers into purchasing mode.

Aug 23, 2018 04:54 AM