Charlotte, NC Region Housing Market Report:
4th Quarter 2019
Latest news on the Charlotte region real estate market and what it means for you...
Fourth 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 priced under $300,000. Buyers looking for a bargain are still "hard pressed" to find one. There is no indication that this lack of inventory will change any time soon.
Meantime, home sellers continue to sell their homes quickly and for top dollar, when priced right for condition and location. The "story" of the fourth quarter 2019 might well be about the continued decreases in the supply of homes available for sale across the region with a resulting increases in home prices in the region. 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 1.7 months, Charlotte region remained a seller's market in the fourth quarter of 2019.
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Charlotte Region Housing Market Highlights
Quarter 4, 2019 vs Quarter 4, 2018
In the fourth quarter of 2019, the Charlotte Region saw a:
- 8.9% increase in average sale prices (to $306,996) year -over-year.
- 9.8% increase in median sale price (to $258,000) year-over-year.
- 23.9% decrease in inventory of homes for sale year-over-year.
- 13.2% increase in closed sales year over year.
- 30.1% decrease in the months supply of homes (1.7 months supply) year-over-year.
- Days on market year-over-year were 42 (down 30.1% year-over-year).
- 96.4% of original price received (up 0.4% year-over-year), indicating a small window of opportunity for buyers to negotiate on price.
Median Home Sale Price Trends For Charlotte Region
This quarterly Charlotte, NC region housing market Quarter 4, 2019 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 region, I'd love an opportunity to earn your business, exceed your expectations, and to show you how: