Charlotte region remained a seller’s market in December 2019 with inventory remaining extremely tight and the months supply of housing dropping 29.2% to just 1.7 months. Year-over-year home prices increased, days on market decreased, inventory decreased despite new listings increasing slightly. Housing affordability index continued to decrease, as well.
Charlotte Real Estate Report & Housing Market Snapshot: 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.
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Charlotte Housing Market Highlights: December 2019 Versus December 2018
Median Home Price Trends In Charlotte
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