Charlotte home sales heat up in May, prices still rising
Jun 9, 2015, 1:06pm EDT
Charlotte Business Journal
Home sales in the Charlotte region soared 20.4 percent in May from a year earlier, according to the Charlotte Regional Realtor Association.
The association reported Tuesday that Carolina Multiple Listing Service figures show 3,845 homes were sold in the region last month, up from 3,193 sold in May 2014.
On a month-to-month basis, sales were up 12.8 percent from April, and the annual growth figure in May outpaced that in the previous month.
The average sales price in May was $245,197, up 4.2 percent from a year earlier, while the median sales price was $199,990, rising 8.1 percent.
Pending sales for the month totaled 4,546, a jump of 25.1 percent from May 2014.
The Charlotte market’s housing inventory declined 22.9 percent from a year earlier, leaving the region with a 3.9-month supply of homes for sale. A housing supply of six months is considered a balanced market between buyers and sellers.
“The CarolinaMLS region continues to post strong sales, despite challenges buyers face with limited inventory, price increases and shortened days on market,” said Maren Brisson-Kuester, president of the association and CarolinaMLS. However, in the association’s previous monthly report, she noted that demand is exceeding supply in the area, which could threaten housing affordability without an influx of new listings.
New listings were up only 0.3 percent in May from a year ago.
On average, homes sold last month had been listed for 119 days — seven fewer than during May 2014 — and fetched 95.4 percent of the original list price.
Charlotte Business Journal
Home sales in the Charlotte region soared 20.4 percent in May from a year earlier, according to the Charlotte Regional Realtor Association.
The association reported Tuesday that Carolina Multiple Listing Service figures show 3,845 homes were sold in the region last month, up from 3,193 sold in May 2014.
On a month-to-month basis, sales were up 12.8 percent from April, and the annual growth figure in May outpaced that in the previous month.
The average sales price in May was $245,197, up 4.2 percent from a year earlier, while the median sales price was $199,990, rising 8.1 percent.
Pending sales for the month totaled 4,546, a jump of 25.1 percent from May 2014.
The Charlotte market’s housing inventory declined 22.9 percent from a year earlier, leaving the region with a 3.9-month supply of homes for sale. A housing supply of six months is considered a balanced market between buyers and sellers.
“The CarolinaMLS region continues to post strong sales, despite challenges buyers face with limited inventory, price increases and shortened days on market,” said Maren Brisson-Kuester, president of the association and CarolinaMLS. However, in the association’s previous monthly report, she noted that demand is exceeding supply in the area, which could threaten housing affordability without an influx of new listings.
New listings were up only 0.3 percent in May from a year ago.
On average, homes sold last month had been listed for 119 days — seven fewer than during May 2014 — and fetched 95.4 percent of the original list price.
