Charlotte, North Carolina Region Real Estate Report:
October 2019
Charlotte, North Carolina region real estate report and housing market snapshot for October 2019. Charlotte region overall remained a seller’s market in October 2019 with inventory remaining extremely tight, dropping 19.5% compared with October 2018. Despite lower inventory, the Charlotte market has shown resiliency and buyer demand for homes remained strong as interest rates dropped. It's also worth keeping mind that while Charlotte overall is a seller's market for homes priced under $300,000, there are price points where Charlotte is a buyer's market -- primarily for homes priced above $750,000.
Lack of inventory and small increases in new listings resulted in higher home list and sale prices year-over-year, and year-to-date. Average sale prices increased 9.7% and median sale prices increased 9.3%% year-over-year. Year-to-date average and median sale prices increased 5.5% and 7% respectively.
Closed sales increased 10.8%, while pending sales were up 25.9% year-over-year in October.
Homes continue to sell quickly with average days on market 40 days, down from 42 days on year ago.
The housing affordability index continued to decrease, as well ~ down 8.8% year-over-year and 7% year-to-date.
Months supply of homes remained very low at 2.1 months (down 25% year-over-year) and even lower for homes priced under $200,000.
Year-to-date trends are all also showing higher home sale prices, higher sales, and tight inventory.
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How The Charlotte Region Housing Market Performed In
October 2019 versus October 2018
MEDIAN HOME SALE PRICE TRENDS IN THE CHARLOTTE REGION
LOOKING FOR YOUR DREAM HOME IN THE CHARLOTTE AREA?
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This monthly 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 serving Charlotte area 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:
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First published at: https://greathomesincharlotte.com/housing-market-reports-updates/charlotte-real-estate-report-october-2019/
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