Charlotte Real Estate Report: December 2019

Charlotte region remained a seller’s market in December 2019 with inventory remaining extremely tight, dropping 23.9% compared with December 2018.

Lack of inventory resulted in higher home list and sale prices year-over-year, and year-to-date. Average sale prices increased 9.9% and median sale prices increased 12.1% year-over-year. Year-to-date average and median sale prices increased 5.9% and 7.1% respectively.

Closed sales increased 17.2%, while pending sales were up 22.3% year-over-year in December, ending the year on a high note. On a year-to-date basis, closed sales increased 5.9% and pending sales increased 8.9%.

Homes continue to sell quickly with average days on market 45 days, down 10 days from one year ago. Cumulative days on market were down 5 days to 53 year-over-year. The days from list to close dropped 8 days to 96 year-over-year.

The housing affordability index continued to decrease, as well ~ down 11% year-over-year and 8% year-to-date.

Months supply of homes remained very low at 1.7 months (down 29.2% year-over-year from 2.4 months one year ago) and even lower for homes priced under $200,000.

Want to know what this would mean for your family if you decide to buy or sell a Charlotte region home?

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Wondering what your Charlotte region home is worth in today’s market? Find out by clicking on the picture below.  

If you’re thinking about selling your Charlotte area home, let’s get together and discuss the supply conditions in your Charlotte neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

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Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.

We’re happy to provide this information with no obligation on your part.

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