CHARLOTTE MARKET UPDATE – NOV, 2019
October home sales continued to sizzle, rising by 10.8% year-over-year, with 4,284 homes sold. Sales rose by 2.9% compared to the previous month
(September, 2019), with 122 more homes sold in October than in September.
Pending sales figures still showed a huge push from home buyers in the region,
rising by 25.9% over a year ago.
Sellers across the city continued to flex their muscle, with the average list
price rising to $330,490 year-over-year by 7.1%; list prices rose by 0.9%
relative to September, 2019. Average and median sales prices rose
9.7% and 9.3% respectively. Original list-to-sales-price ratios rose 03% to 96.5%.
For the second consecutive month, new residential listings increased by 5.9%
with 5,122 homes listed in the month of October.
Inventory will continue to pressure costs for the foreseeable future, falling 19.5% across the 16-county zone, leaving the area for sale with 9,094 homes and 2.1 months of inventory.
Despite market conditions being largely unchanged, relative to Charlotte’s prime-selling months, homes continue to sell fairly effortlessly. The total number of days a property was on the market from the time it was listed until it was sold (list to close) was 91 days, while the cumulative days on the market (list-to-Contract) decreased by two days to 40.
Want more specific details on your market? Let’s talk! Call or text me at (704) 491-3310 or email SavvyBroker@me.com
© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | CHARLOTTE MARKET UPDATE – NOV, 2019