Charlotte, NC Region Housing Market Update:
1st Quarter 2019
First Quarter 2019 Charlotte, North Carolina region's home sales continued the trends we've seen since 2015. Home buyers are still finding the housing market very competitive with higher home prices and a lack of properties to buy, especially in affordable homes. 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 first quarter 2019 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 the region, albeit a relatively small decrease. It's worth pointing out that this "story" is now an "old" story, because that was also the story of 2016, 2017, and 2018. And with inventory at 2.2 months, Charlotte region remained a seller's market in the first quarter of 2019.
In the first quarter of 2019, the Charlotte region saw a:
- 3.5% increase in average sale prices (to $280,541) year-over-year.
- 6.3% decrease in inventory of homes for sale year over year.
- 2.3% decrease in closed sales year over year.
- 5.7% decrease in the months supply of homes (2.2 months supply) year over year.
- Days on market year over year were flat (52 days on market).
- 96.1% percent of original price received, indicating a small window of opportunity for buyers to negotiate on price.
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're considering selling or purchasing a home in the Charlotte region, I'd love an opportunity to earn your business, exceed your expectations, and to show you how: