Charlotte, NC Region Housing Market Report/Video: 4th Quarter 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Charlotte, NC Region Housing Market Update: 4th Quarter 2018

4th 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. With regional months supply of homes at 2.2 months, the Charlotte region remains very much a seller's market.

 

 

 

 

4th Quarter 2018 Charlotte Region Key Metrics:

 

  • 4.5% increase in average sale prices (to $282,369)
  • 5.9% decrease in inventory of homes for sale
  • 8.1% decrease in closed sales
  • 4.1% decrease in the months supply of homes (2.5 months supply)
  • 3.1% decrease in days on market (45 days on market)
  • 96.0% percent of original price received

 

Charlotte NC Region 4th Quarter 2018 Housing Report

 

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 1.8 months of inventory at the end of the fourth quarter and was the only one of these four counties that saw an increase in its inventory of homes in the quarter. Union, York, and Lancaster Counties had 2.5 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. Lancaster County was the only one of these four that saw an increase in closed sales in the fourth quarter.

 

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

  • Average Sale Price: up 4.6% versus one year ago (to $313,212).
  • Inventory of Homes for Sale: up 9.9% versus one year ago.
  • Closed Sales: down 12.9% versus one year ago.
  • Months Supply of Homes for Sale:1.8 months, up 15.7% versus one year ago.
  • Average Days on Market: 37 days, up 10.7% versus one year ago.

 

FULL REPORT ON MECKLENBURG COUNTY 4TH QUARTER HOUSING MARKET



SEARCH MECKLENBURG COUNTY HOMES FOR SALE

 

 

 Mecklenburg County 4th Quarter 2018 Housing Report


 

 

Union County, NC:

  • Average Sale Price:  up 4.7% versus one year ago (to $338,421).
  • Inventory of Homes for Sale: down 9.9% versus one year ago.
  • Closed Sales:  down 5.2% versus one year ago.
  • Months Supply of Homes for Sale: 2.2 months, down 11.4% versus one year ago.
  • Average Days on Market: 50 days, up 12.5% versus one year ago.

 

FULL REPORT ON UNION COUNTY 4TH QUARTER HOUSING MARKET


SEARCH UNION COUNTY HOMES FOR SALE

 

 

Union County 4th Quarter 2018 Housing Report


 

 

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

 

  • Average Sale Price: up 8.4% versus one year ago (to $287,011).
  • Inventory of Homes for Sale: up 1% versus one year ago.
  • Closed Sales: down 3.1% versus one year ago.
  • Months Supply of Homes for Sale: 2.1 months, down 3.2% versus one year ago.
  • Average Days on Market: 48 days, up 10.4% versus one year ago.

 

FULL REPORT ON YORK COUNTY 4TH QUARTER HOUSING MARKET



SEARCH YORK COUNTY HOMES FOR SALE HERE

 

York County 4th Quarter 2018 Housing Report


 

 

Lancaster County, SC

  • Average Sale Price:  up 4.1% versus one year ago (to $296,291).
  • Inventory of Homes For Sale:  down 13.8% versus one year ago.
  • Closed Sales: up 9.9% versus one year ago.
  • Months Supply of Homes for Sale: 2.5 months, down 25.4%. 
  • Average Days on Market: 55 days, up 14.7% versus one year ago.

 

FULL REPORT ON LANCASTER COUNTY 4TH QUARTER HOUSING MARKET

 

SEARCH LANCASTER COUNTY HOMES FOR SALE HERE

 

Lancaster County 4th Quarter 2018 Housing Report




 

PREVIOUS CHARLOTTE REGION HOUSING MARKET UPDATES

 

Charlotte Region Housing Market Report: 3rd Quarter 2018

Charlotte Region Housing Market Report: 2nd Quarter 2018

Charlotte Region Housing Market Report: 1st Quarter 2018

Charlotte Region Housing Market Report: 4th Quarter 2017

 

 

This quarterly Charlotte, NC region housing market update is provided 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're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

Great Homes In Charlotte

 

First published on: https://greathomesincharlotte.com/housing-market-reports-updates/charlotte-region-housing-report/ 

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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 - 2019 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
2,189,769
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

I find the 96% of list price odd but I guess that is very normal for Charlotte. During our strong seller markets in Sacramento, it was not uncommon to see 99% to 102% of list price. 96% would indicate a softer market.

Hey, I just finished an editorial in the Sac Bee that Wells Fargo is an embarrassment to Charlotte. Do you think that is true?

Jan 21, 2019 04:36 PM #11
Rainmaker
4,432,217
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 

Jan 22, 2019 02:55 AM #12
Rainmaker
3,255,296
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Long time in a Sellers market...time to mooove on !

Jan 22, 2019 03:45 AM #13
Rainmaker
3,097,097
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 what can I say about Wells Fargo? Lots of issues and they are embarrassing... of course, we like to think that they are a California Bank based in Charlotte! (Unlike Bank of America which is a local bank who bought out a California bank).

When we talk about the Charlotte region, it's important to remember that we cover two states and more than a dozen counties, which impacts our averages. Percent of list price varies greatly from one area to the next. My last two listings sold at over asking price; my last four buyer sales were all at asking price.

Jan 22, 2019 04:49 AM #14
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal thanks, Gita. Hope your week has gotten off to a good start and that it's not too cold at your end of the world.

Jan 22, 2019 04:49 AM #15
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sally K. & David L. Hanson good morning, Sally... it has been a long seller's market here... and I don't see that changing much at least through our upcoming spring selling season.

Jan 22, 2019 04:50 AM #16
Rainmaker
3,176,323
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Attention Charlotte homeowners...The housing market is solid, but it needs more inventory. C all Nina Hollander so you can be a SOLD too!

Jan 22, 2019 04:58 AM #17
Rainmaker
1,921,891
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - certainly Charlotte shows not sign of slowing down except that sales are hurt by low inventory.

Jan 22, 2019 05:05 AM #18
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 thanks much, Sheila and Larry, for that great shout out to Charlotte area sellers. Let's hope some listen to you!

Jan 22, 2019 05:05 AM #19
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider good morning, Grant. The rate of price increases has slowed down, but otherwise the market remains a seller's "domain" here in Charlotte.

Jan 22, 2019 05:46 AM #20
Rainmaker
2,550,620
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

The video is great for people to watch and find out what is going on in the area!  I hope that your day will be enjoyed my friend!

Jan 22, 2019 06:00 AM #21
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England Thanks, Brian... personally, I'm not much of a video watcher. I prefer reading, but they tell me posts with videos get more views... so here I am, video and all!

Jan 22, 2019 08:17 AM #22
Rainmaker
1,322,487
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Nina,
Another great overview report!  I love that you do video AND write the content of your reports.  I'm more of a quick overview reader than a video watcher.  Not sure I am typical.

Jan 22, 2019 10:13 AM #23
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Carol Williams hi Carol... then you and I are in the same "club." I'd rather read than watch a video. I retain much more by reading.

Jan 22, 2019 10:17 AM #24
Ambassador
3,103,666
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

That is a market update we can all appreciate. You really bring you clients up to speed on your market areas. Thank you for the peek at your process Nina Hollander 

Jan 22, 2019 12:50 PM #25
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS hi Paul... it's a "rinse and repeat" exercise each quarter once you've done the first quarterly report. Thanks for the nice comment.

Jan 22, 2019 01:51 PM #26
Rainmaker
4,797,361
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 for the Charlotte, NC real estate market.

Jan 23, 2019 04:52 AM #27
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders  thanks, Gabe, for popping by. Wishing you a really good Wednesday!

Jan 23, 2019 05:24 AM #28
Rainmaker
5,384,462
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local market reports.

Jan 23, 2019 05:44 AM #29
Rainmaker
3,097,097
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... as always, I'm appreciative that you take the time to stop by and to leave a comment. Happy Wednesday!

Jan 23, 2019 08:00 AM #30
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