This month let’s take a look at the Charlotte, NC Real Estate Market for May 2017!
These numbers are Year over Year, so we’re comparing May 2016 to May 2017!
If you’ve watched any of my market updates before, you’ve heard this story! There was an increase in listings when compared with 2016, but there was also an increase in sales, leading to a continued tightening of the market and rising prices. Let’s dig into the numbers a bit.
There was an increase in new listings to 5941 for the month, an increaseof 4.6%, thankfully bucking the trend of last month. Even more surprising is the 0.3% decrease in Closed Sales and 16.6% increase in Pending Sales!
The median sales price for Charlotte, NC Homes for Sale was up to $226,500 compared to $210,000 in 2016 and representing an 7.9% increase! For you number wonks, the Average Sales price was $328,259 in May, versus $257,940 in 2016. Yep, that’s up 4.5%! The percent of list price received was up to 97.0% from 96.8. At the end of the month there were 9,795 Charlotte, NC Homes for Sale, a whopping 20.2% decrease from Mayl 2016, and resulting in only 2.5 months supply of homes available!
It’s not just a saying, it’s the truth: “Buyers Need Homes”
Mahool Nance Team