Charlotte Real Estate October 2019

Charlotte Market Data Overall OCTOBER 2019

Overall data for the Charlotte real estate market from the Charlotte Monthly Indicators Report

NEW LISTINGS	PENDING SALES	CLOSED SALES	STRONGEST PROPERTY TYPE
5,122	4,675	4,284	Single Family

AVERAGE LIST PRICE	AVERAGE SALES PRICE	MEDIAN SALES PRICE	% SELLING PRICE RECEIVED	AVG DAYS ON MARKET
$330,490	$305,890	$253,000	96.5%	40

October 2019 Overview

Mortgage rates increased slightly in October from the three-year lows in September. Even with the uptick in rates, they are still approximately 1% lower than this time a year ago. Fannie Mae is predicting continued low rates, and even possibly lower rates in 2020.

New Listings were up in the Charlotte region by 5.9 percent to 5,122. Pending Sales increased 25.9 percent to 4,675. Inventory shrank 19.5 percent to 9,094 units. Median Home Sales Prices were up 9.3% to $253,000. Months Supply of Homes for Sale was down 25% to 2.1 months in October. As we expect slower seasonal sales through year-end, we expect that historically low mortgage rates will continue to buoy buyer demand and a continued increase in home prices.

The persistent low inventory of housing also continues to place a burden on sales activity from where it would potentially be in a balanced housing market.

Recent Single Family Home Sales in Charlotte NC

View the most recent single family homes sold in Charlotte, NC in the last 3 days.

Charming 3 bed, 2 bath in this hot area of Oakhurst. Home was purchased in 2015 by current owner and totally gutted down to the foundation and studs. It has been fully remodeled with an open floorplan and updated with the latest appliances and fixtures. Tankless hot water heater. Red Oak hardwood flooring throughout. Primary bedroom has large walk-in closet and fantastic bath with both shower and freestanding tub. Private rear yard is large, level and fenced. Detached one car garage has generous storage shed attached. Conveniently located to major thoroughfares, restaurants, shops and all uptown activities Charlotte has to offer!

$540,000 Closed

4914 Doris Avenue Charlotte, North Carolina

3 Beds 2 Baths 1,412 SqFt 0.301 Acres

$293,850 Closed

1315 East Boulevard 614 Charlotte, North Carolina

1 Beds 1 Baths 790 SqFt

Lovely all brick townhome in established Windsor Oaks community! Open floor plan with lots of natural light and charming sunroom. Great room w/ vaulted ceilings and fireplace, opens to dining room. Kitchen has all new appliances, new backsplash, and under mount lighting. Two bedrooms with shared bath. Large Primary bedroom with updated flooring in walk-in closet. Primary Bath has new glass shower doors, new hardware and dual vanity. Sunroom also has new floors. Two- car attached garage, private community pool and club house. Yard maintenance included in HOA. Convenient to Stonecrest and Blakeney shopping restaurants, and I-485.

$402,000 Closed

8109 Windsor Ridge Drive B Charlotte, North Carolina

3 Beds 2 Baths 1,534 SqFt

Fantastic home within walking distance of great schools, excellent restaurants, fine shopping and walking trails. Ten minutes from Uptown and fifteen from the airport . This home was renovated in 2015 with the addition of a large family room open to the kitchen, a wonderful wrap-around patio with, an attached two car garage, the fifth bedroom suite and a convenient drop zone. All bathrooms and the kitchen have also been updated. This house is ideal for large gatherings with a wonderful floor plan featuring spacious rooms. The upper driveway and the large circular drive can accommodate a dozen cars. The house has a great home office, large dining room and a breakfast/sitting room. The kitchen features two dishwashers, double ovens, a five burner cooktop, an island that seats five and a wonderful walk-in pantry. All the bedrooms are large and have en-suite bathrooms. The huge, fenced backyard has landscaping that provides total privacy.

$1,500,000 Closed

3101 Colony Road Charlotte, North Carolina

5 Beds 5 Baths 4,345 SqFt 0.646 Acres

Learn the TRUE Market value of your Home Now!

Charlotte August 2019 Market Overview OCTOBER 2019

Key metrics from the Monthly Indicators for the Charlotte Region

KEY METRICS	OCTOBER 2018	OCTOBER 2019	CHANGE
New Listings	4,835	5,122	+5.9%
Pending Sales	3,712	4,675	+ 25.9%
Closed Sales	3,865	4,284	+ 10.8%
Days on Market Until Sale	42	40	- 4.8%
Average List Price	$308,457	$330,490	+ 7.1%
Average Sales Price	$278,811	$305,890	+ 9.7%
Median Sales Price	$231,500	$253,000	+ 9.3%

Strongest Properties by TYPE in the Charlotte Region OCTOBER 2019

Which property types sold the quickest key metrics from the Charlotte Housing Supply Overview

KEY METRICS	OCTOBER 2019	CHANGE
Price Range with the Strongest Sales	$300,000 and above	+18.1%
Bedroom Count with Strongest Sales	3 Bedrooms	+ 7.7%
Property Types With Strongest Sales	Single Family	+ 7.6%

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.

$540,000 Closed

4914 Doris Avenue Charlotte, North Carolina

3 Beds 2 Baths 1,412 SqFt 0.301 Acres

$293,850 Closed

1315 East Boulevard 614 Charlotte, North Carolina

1 Beds 1 Baths 790 SqFt

$402,000 Closed

8109 Windsor Ridge Drive B Charlotte, North Carolina

3 Beds 2 Baths 1,534 SqFt

$1,500,000 Closed

3101 Colony Road Charlotte, North Carolina

5 Beds 5 Baths 4,345 SqFt 0.646 Acres

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.

No properties found

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

Days on Market Until Sale by Price Range OCTOBER 2019

Obtained from Housing Supply Overview

BY PRICE RANGE	OCTOBER 2018	OCTOBER 2019	CHANGE
$100,000 and Below	49	45	- 8.2%
$100,001 to $150,000	30	28	- 6.7%
$150,001 to $200,000	23	26	+ 13.0%
$200,001 to $300,000	36	38	+5.6%
$300,001 and Above	64	61	- 4.7%
ALL PRICE RANGES	43	44	+2.3%

Days on Market Until Sale by Bedroom Count OCTOBER 2019

Obtained from Housing Supply Overview

BY BEDROOM COUNT	OCTOBER 2018	OCTOBER 2019	CHANGE
2 Bedrooms or Less	36	35	- 2.8%
3 Bedrooms	34	37	+ 8.8%
4 Bedrooms or More	56	55	- 1.8%
ALL BEDROOM COUNTS	43	44	+2.3%

Days on Market Until Sale by Property Type OCTOBER 2019

Obtained from Housing Supply Overview

BY PROPERTY TYPE	OCTOBER 2018	OCTOBER 2019	CHANGE
Single Family	45	45	0.0%
Condos & Townhomes	30	35	+ 16.7%

New Homes for Sale in Charlotte NC

View the newest homes for sale in Charlotte, NC listed in the last 1 Day.

Well maintained ranch home that needs some updating. Located on a big corner lot with a fenced in backyard. 2016 new roof, 2017 new HVAC, 2020 new hot water heater. Great location conveniently located to I-85, I-77 and I-485. NO HOA. PROPERTY IS BEING SOLD AS-IS WITH NO REPAIRS.

$235,000 Active

1200 Milan Road Charlotte, North Carolina

3 Beds 1 Baths 997 SqFt 0.310 Acres

This is a rare opportunity to own a large penthouse with such a close proximity to BofA Stadium, Truist Ballpark, Spectrum Arena in city center and only 2 blocks from Trade and Tryon! Steps to Fourth Ward Park, Settlers Cemetary, Harris Teeter, restaurants, bars and all the Queen City has to offer. This condo has been newly renovated with luxury vinyl plank flooring, new paint, painted cabinets in the kitchen and baths. New mirrors and lights in the bathrooms. 9-foot ceilings make the space seem even larger. The office/study is perfect for working from home! The large great room boasts a woodburning fireplace and a large balcony that overlooks Settlers Cemetary as does the balcony accessed from both bedrooms. This is a Secure building with an Elevator and a assigned parking space in a dedicated tenant garage. This condo will not disappoint, being in the historic Fourth Ward with unbelievable skyline views!

$400,000 Active

224 N Poplar Street 27 Charlotte, North Carolina

2 Beds 2 Baths 1,620 SqFt

Great community, located in the highly sought out area of Mountain Island Lake and is conveniently located to shopping, dining and the new Riverbend Village. Also provides close access to I-485 and a 10 mile commute to the heart of Uptown! Well maintained 2 bedroom 1.5 bath townhome spacious living area with durable vinyl plank flooring downstairs, dining area opens to outside patio that backs up to the woods. Upstairs has two bedrooms and a shared bath bathroom.

$230,000 Active

12318 Hennigan Place Lane Charlotte, North Carolina

2 Beds 2 Baths 1,030 SqFt

Welcome home to this beautiful ranch 3 bedroom perfect for first time buyers! NOA HOA! Nestled in a cul-de-sac on .75 acres you'll find an open floor plan 3 bedroom 2 bath, 2 car garage, spacious kitchen with stainless steel appliances and screened in sunroom addition. The GEM is conveniently 10 minutes from uptown Charlotte, shopping centers, restaurants and close to major highways for easy access! New construction is in this area and the City Lynx Gold future streetcar line is on its way! Here is your chance to make this area home!

$285,000 Active

6950 Silver Garden Lane Charlotte, North Carolina

3 Beds 2 Baths 1,050 SqFt 0.750 Acres

View ALL New Listings in Charlotte, NC

Percent of Original List Price Received OCTOBER 2019

Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold, not accounting for seller concessions from the Charlotte Region Housing Supply Overview

BY PRICE RANGE	OCTOBER 2018	OCTOBER 2019	CHANGE
$100,000 and Below	91.8%	90.4%	- 1.5%
$100,001 to $150,000	97.7%	97.1%	- 0.6%
$150,001 to $200,000	98.1%	96.6%	- 0.5%
$200,000 to $300,000	97.6%	97.2%	- 0.4%
$300,000 and Above	96.6%	96.6%	0.0%
ALL PRICE RANGES	97.0%	96.7%	- 0.3%
BY BEDROOM COUNT
2 Bedrooms or Less	96.0%	95.7%	-0.3%
3 Bedrooms	97.5%	97.1%	- 0.4%
4 Bedrooms or More	96.6%	96.5%	- 0.1%
ALL BEDROOM COUNTS	97.0%	96.7%	- 0.3%
BY PROPERTY TYPE
Single Family	96.7%	96.5%	- 0.2%
Condos & Townhomes	98.2%	97.9%	- 0.3%