Charlotte, NC Region Housing Market Update/Video: 3rd Quarter 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Charlotte, NC Region Housing Market Update: 3rd Quarter 2018

 

Third 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 continue to sell their homes relatively quickly and for top dollar, when priced right for condition and location. The "story" of the third quarter 2018 might well be about the continued decreases in the supply of homes available for sale across the region with a resulting decrease in closed sales in parts of 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. And with inventory generally under 2.5 months, Charlotte region remained a seller's market in the third quarter 2018.

 

 

 

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

  • 6.6% increase in average sale prices (to $289,475)
  • 11.7% decrease in inventory of homes for sale
  • 4.0% decrease in closed sales
  • 11.9% decrease in the months supply of homes (2.5 months supply)
  • 12.4% decrease in days on market (37 days on market)
  • 97.0% percent of original price received

 

 

SEARCH CHARLOTTE REGION HOMES FOR SALE

 


 

The "primary" 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 1.2 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 some parts of the region, and affecting affordability.

 

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

 

Union County, NC:

  • Average Sale Price:  up 3.1% versus one year ago (to $355,884).
  • Inventory of Homes for Sale: down 6.5% versus one year ago.
  • Closed Sales:  down 0.8% versus one year ago.
  • Months Supply of Homes for Sale: 2.7 months, down 8.9% versus one year ago.
  • Average Days on Market: 38 days, up 1.1% versus one year ago.

    More details about how Union County's housing market did in the 3rd quarter.

 

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

  • Average Sale Price: up 3.2% versus one year ago (to $284,237).
  • Inventory of Homes for Sale: down 4.2% versus one year ago.
  • Closed Sales:  up 2.8% versus one year ago.
  • Months Supply of Homes for Sale: 2.4 months, down 8% versus one year ago.
  • Average Days on Market: 36 days, down 7.2% versus one year ago.

    More details about how York County's housing market did in the 3rd quarter.

 

Lancaster County, SC

 

 

See the charts below for more detailed information on 3rd quarter 2018 home sales statistics:

 Third Quarter 2018 Mecklenburg County Housing Report

 

DETAILED REPORT FOR MECKLENBURG COUNTY 

 

Mecklenburg County 3rd Quarter Detailed Housing Report 

 

SEARCH MECKLENBURG COUNTY HOMES FOR SALE

 

 


 

 

3rd Quarter 2018 Union County, NC Housing Market Report

 

DETAILED REPORT FOR UNION COUNTY  

 

Union County, NC 3rd Quarter 2018 Detailed Housing Market Report

 

SEARCH UNION COUNTY HOMES FOR SALE

 

 


 

3rd Quarter 2018 York County, SC Housing Market Report

 

DETAILED REPORT FOR YORK COUNTY 

 

 

York County, SC 3rd Quarter 2018 Housing Market Report

 

SEARCH YORK COUNTY HOMES FOR SALE HERE

 

 


 

3rd Quarter 2018 Lancaster County, SC Housing Report

 


DETAILED REPORT FOR LANCASTER COUNTY 

 

 

Lancaster County, SC 3rd Quarter 2018 Housing Market Report

 

SEARCH LANCASTER COUNTY HOMES FOR SALE HERE 



 

 

Charlotte Region Housing Market Report: 2nd Quarter 2018

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 Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We've been opening doors for Charlotte region home buyers and sellers for 20 years.

 

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, 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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Market Reports
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2017 Market Trend Reports
Tags:
charlotte nc region housing market update
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mecklenburg county housing update
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Rainmaker
1,803,664
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - there is certainly no shift in your market if there even is one.

Oct 17, 2018 10:03 AM #1
Rainmaker
3,005,773
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina, Great report to go with the video.  You always do a  great job with your blogs.

Oct 17, 2018 10:03 AM #2
Rainmaker
1,868,248
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Good morning Nina,  thanks for the market update on Charlotte, always enjoy viewing stats and charts on other communities.

Oct 17, 2018 10:06 AM #3
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant. I expect we'll be seeing a bit of a shift in the fourth quarter. But high end properties are taking a very long time to sell now and have been for past several months.

Oct 17, 2018 10:52 AM #4
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm hi Will... thanks. Appreciate the nice comment and compliment! Happy Wednesday!

Oct 17, 2018 10:53 AM #5
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ronald DiLalla hi Ron... I like taking a look at other areas housing trends, as well. Thanks for popping by!

Oct 17, 2018 10:54 AM #6
Rainmaker
3,977,334
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, goodness, Charlotte is STILL seeing nearly 10% home value increases.   Ours has subsided a bit.

Oct 17, 2018 11:47 AM #7
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox hi Joan... I expect we'll see a bit of a fall-back in the fourth quarter. But then again, who really knows! Of course, we didn't escalate quite as much as your market did in the past couple of years either.

Oct 17, 2018 12:04 PM #8
Ambassador
3,877,844
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Nina

There is some terrific information for buyers and sellers here to understand what has been happening in the market and the hurdles they are up against. But with you help buying and selling decisions will be easy!

Jeff

Oct 17, 2018 12:06 PM #9
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeff Dowler, CRS hi Jeff... if I've learned anything over the past couple of decades in this business is that at the end of the day... nothing is really all that easy! Nor is it getting any easier! 

Oct 17, 2018 12:09 PM #10
Rainmaker
2,186,827
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Dizzying array of information about the Charlotte real estate market, Nina! What a lot of work you put into this report.

Eventually, you know, what's happening in California and Colorado will reach the east coast.

Oct 17, 2018 06:30 PM #11
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents hi Elizabeth... I figure that different people like to see information in different ways... once the basic "template" is set up, it's relatively easy/quick to update each quarter. I've often been surprised by clients as to what they "capture" out of a market report.

Oct 18, 2018 03:31 AM #12
Rainmaker
4,796,014
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 the information and update about the Charlotte, NC real estate market.

Oct 18, 2018 05:55 AM #13
Rainmaker
2,898,394
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders good morning to you, Gabe... and thanks, as always, for taking time to stop by! Wishing you a terrific Thursday.

Oct 18, 2018 06:26 AM #14
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