Charlotte region remained a seller’s market in 2019. Low inventory, fewer new listings, lower days on market all resulted in higher home sale prices and a lower affordability index. With a strong economy and low interest rates, demand for homes continues to outpace availability of homes for sale.
With a razor-thin 1.7 months of housing inventory at 2019 year-end, there is no doubt that the Charlotte region remained a seller’s market in 2019. This is the most critical aspect of the Charlotte market right now, as it has been for the last several years: the lack 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 outpace supply.
Charlotte Region 2019 Housing Market Highlights
- Median Sale Price ~ up 7.1% in 2019 to $255,000
- Average Sale Price ~ up 5.9% in 2019 to $303,722
- Days On Market (List to Close) ~ 93 days in 2019 (flat versus 2018)
- Closed Sales ~ up 5.9% in 2019 to 50,854 units
- Pending Sales ~ up 8.9% in 2019 to 52,031 units
- Percent Of Original List Price Received ~ 96.7% in 2019
- New Listings ~ up 1.7% in 2019
- Inventory Of Homes For Sale ~ down 23.9% in 2019 to 7,416 units (the lowest level of inventory since 2007)
- Distressed Homes Sold ~ down 11.1% in 2019, representing just 1% of total sales
Previous Charlotte Region Housing Market At A Glance Reports
This Charlotte, NC region housing market update for 2019 is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your Charlotte region residential real estate experts. We’ve been opening doors for Charlotte region home buyers and sellers for 20+ years. Let us help you open your door…. you’ll be glad you did.
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: