August heats up Charlotte-area home sales, prices - Charlotte Business Journal
Home sales in the Charlotte area in August rose 8.1 percent from a year earlier, while the average sale price increased 2 percent since August 2013, the
Charlotte Regional Realtor Association reported Tuesday.
According to the association’s latest monthly activity report, 3,673 properties were sold last month in the market tracked by
Carolina Multiple Listing Services Inc., up from 3,399 a year ago. However, compared with July’s figures, sales dipped 2.1 percent in August.
The average sale price was $242,121, and the median sale price was $185,500 — up 1.6 percent from last year. The average list price in August climbed 8.6 percent from a year earlier to $266,185, with homes fetching 94.7 percent of the original list price and remaining listed for 123 days, or nine fewer days than at this time last year.
Preliminary pending-sales counts for the month soared 29.9 percent, totaling 3,536. That’s up from 2,273 in August 2013.
“It’s encouraging to continue to see year-over-year increases in pending contracts, which show a strong demand for homes in our area,”
Joe Rempson, association and CarolinaMLS president, said in a news release. “Much of this activity is due to the positive mix of housing conditions such as sustained job growth, low mortgage rates and a stable economy that our region is experiencing.”
New listings in the local market were down 4 percent from a year ago, while inventory declined 8.6 percent, leaving the region with a 5.2-month supply of homes for sale. A housing supply of six months is generally considered a balanced market between buyers and sellers.
The association also reported a decline in distressed activity, with foreclosures and short sales accounting for 5.1 percent of the sales closed last month, down from 9.2 percent a year ago.
