Charlotte Real Estate July 2019
Charlotte Real Estate July 2019
Charlotte Market Data Overall for July 2019
| AVERAGE LIST PRICE | AVERAGE SALES PRICE | MEDIAN SALES PRICE | % SELLING PRICE RECEIVED | AVG DAYS ON MARKET |
|---|---|---|---|---|
| $321,673 | $313,281 | $265,000 | 97.1% | 38 |
| KEY METRICS | JULY 2018 | JULY 2019 | CHANGE |
|---|---|---|---|
| New Listings | 5,616 | 5,583 | - 0.6% |
| Pending Sales | 4,490 | 5,206 | + 15.9% |
| Closed Sales | 4,688 | 4,627 | - 1.3% |
| Days on Market Until Sale | 35 | 38 | + 8.6% |
| Average List Price | $302,691 | $343,468 | + 2.6% |
| Average Sales Price | $299,723 | $321,673 | + 6.3% |
| Median Sales Price | $240,000 | $265,000 | + 10.4% |
July 2019 Overview
This month the economic expansion that began in June 2009 became the longest in history, making up 121 straight months of GDP growth. The economy should continue to perform well throughout the remainder of 2019 but there are signs of a mild recession on the horizon sometime in 2020. Low mortgage interest rates have helped to offset decreasing home affordability, but home prices are still outpacing the growth in median household income.
In the Charlotte real estate market, the home inventory shortage continues as new listings were down 0.6% in July with 5,583 units available. Home inventory shrank 15.3% to 9,416 units. Months Supply of Home inventory was down 14.8% to 2.3 months of inventory with a 2.4 month supply for Single-Family homes and 1.7 month supply for Condos/Townhomes. Note that six months of inventory is considered to be a balanced market between buyers and sellers. As has been the case for several months, the entry-level price point of $225,000 and below continues to experience the most severe shortage of inventory.
For homeowners with homes in this entry-level value range these homes will continue to be very much in demand. Sellers of homes in the best-selling range of $200,000 to $300,000 can expect brisk activity as well. Pending sales are up 15.9 percent to 5,206 units and the overall Median Sales Price was up 6.2 percent to $247,000. The price range with the largest gain in sales was the $200,001 to $300,000 range, which increased 11.1%.
The property type with the largest price gain was the Condo-Townhome class which experienced a 9.7% increase to $200,833. The price range that tended to sell in the shortest amount of time was the $150,000 to $200,000 range, averaging 26 days on market. The price range that sold the slowest during July was the $300,000+ range which took an average of 62 days to sell. Still, a very good time range for higher-end homes.
Recent Single Family Home Sales in Charlotte NC
View the most recent single family homes sold in Charlotte, NC in the last 3 days.
| KEY METRICS | JULY 2019 | CHANGE |
|---|---|---|
| Price Range with the Strongest Sales | $300,000 and above | +10.8% |
| Bedroom Count with Strongest Sales | 3 Bedrooms | + 1.9% |
| Property Types With Strongest Sales | Single Family | + 2.3% |
| BY PRICE RANGE | JULY 2018 | JULY 2019 | CHANGE |
|---|---|---|---|
| $100,000 and Below | 54 | 46 | - 14.8% |
| $100,001 to $150,000 | 31 | 28 | - 9.7% |
| $150,001 to $200,000 | 24 | 26 | + 8.3% |
| $200,001 to $300,000 | 36 | 38 | +5.6% |
| $300,001 and Above | 65 | 62 | - 4.6% |
| ALL PRICE RANGES | 44 | 44 | 0.0% |
Strongest Home Sales in Charlotte NC
View the most recent single family homes over $300,000 sold in Charlotte, NC in the last 10 days.
Charlotte Region 2nd Quarter Market Data
The Charlotte Region Marketwatch report data includes information from the Charlotte Region (Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties) and South Carolina Region (Chester, Chesterfield, Lancaster and York counties) for both single family & condos and townhomes combined. Figures are calculated using rounded figures and are refreshed regularly.
Recent Condo & Townhome Sales in Charlotte NC
View the most recent condos & townhomes that have sold in Charlotte, NC over the last 10 days.
Days on Market Until Sale
Average number of days between when a property is first listed and when an offer is accepted from the Charlotte Region Housing Supply Overview
| BY BEDROOM COUNT | JULY 2018 | JULY 2019 | CHANGE |
|---|---|---|---|
| 2 Bedrooms or Less | 38 | 36 | - 5.3% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms or More | 56 | 56 | 0.0% |
| ALL BEDROOM COUNTS | 44 | 44 | 0.0% |
| BY PROPERTY TYPE | JULY 2018 | JULY 2019 | CHANGE |
|---|---|---|---|
| Single Family | 46 | 45 | - 2.2% |
| Condos & Townhomes | 30 | 35 | + 16.7% |
| BY PRICE RANGE | JULY 2018 | JULY 2019 | CHANGE |
|---|---|---|---|
| $100,000 and Below | 91.7% | 90.5% | - 1.3% |
| $100,001 to $150,000 | 97.9% | 97.1% | - 0.8% |
| $150,001 to $200,000 | 98.3% | 97.6% | - 0.7% |
| $200,000 to $300,000 | 97.7% | 97.3% | - 0.4% |
| $300,000 and Above | 96.6% | 96.5% | - 0.1% |
| ALL PRICE RANGES | 97.0% | 96.6% | - 0.4% |
| BY BEDROOM COUNT | |||
| 2 Bedrooms or Less | 95.9% | 95.6% | -0.3% |
| 3 Bedrooms | 97.6% | 97.1% | - 0.5% |
| 4 Bedrooms or More | 96.7% | 96.4% | - 0.3% |
| ALL BEDROOM COUNTS | 97.0% | 96.6% | - 0.4% |
| BY PROPERTY TYPE | |||
| Single Family | 96.8% | 96.4% | - 0.4% |
| Condos & Townhomes | 98.3% | 97.9% | - 0.4% |
New Homes for Sale in Charlotte NC
View the newest homes for sale in Charlotte, NC listed in the last 1 Day.
| NEW LISTINGS | PENDING SALES | CLOSED SALES | STRONGEST PROPERTY TYPE |
|---|---|---|---|
| 5,621 | 5,096 | 4,735 | Single Family |
*ALL DATA on this page is current as of August 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor® Association. Report © 2019 ShowingTime.
Upcoming Open Houses in Charlotte NC
View the upcoming open houses in Charlotte, NC in the next week.
