Charlotte region remained a seller’s market in 2018. Low inventory, higher home prices, lower days on market all also led to lower pending and closed sales.
Charlotte Region 2018 Housing Market Quick Facts
All the critical indicators of a strong, predominantly seller’s housing market show improvement year-over-year since 2014, with the exception of the inventory of homes available for sale, which is now at its lowest level since 2007. With just 2.2 months of inventory at 2018 year end, this is the most critical aspect of our market right now — availability of homes for buyers to purchase. Availability of affordable homes is really at critical shortage. It’s the supply of homes, or rather lack thereof, that is helping drive Charlotte area home prices up and the housing affordability index down as demand continues to outstrip supply. Closed sales are also being impacted negatively due to the lack of inventory.
Charlotte Metro Area’s 2018 Housing Market At A Glance:
- Median Sale Price ~ up 5.8% in 2018 to $238,000
- Average Sale Price ~ up 6.4% in 2018 to $286,796
- Days On Market (List to Close) ~ down 4 days (9.4%) in 2018 to 93 days
- Closed Sales ~ down 2.7% in 2018 to 47,745 units
- Pending Sales ~ down 1.9% in 2018 to 48,225 units
- Percent Of Original List Price Received ~ level at 96.9% in 2018
- New Listings ~ down 0.3% in 2018 to 59,889 units
- Inventory Of Homes For Sale ~ down 5.9% in 2018 to 8,718 units (the lowest level of inventory since 2007)
- Distressed Homes Sold ~ down 35% in 2018, representing just 1.2% of total sales
Quick Facts: Charlotte Region Housing Market In 2018
This Charlotte, NC region housing market update for 2018 is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your Charlotte metro area residential real estate experts. We’ve been opening doors for Charlotte area home buyers and sellers for 20+ years. Let us open the door to your next home…. you’ll be glad you did.
If you are 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: