Fourth quarter 2017 Charlotte, North Carolina region's home sales continued the positive trends we've seen all year and since 2015. Home buyers are finding the housing market very competitive with higher home prices and a lack of properties to buy. Buyers looking for a bargain are "hard pressed" to find one.  Meantime, home sellers are seeing their homes sell quickly and for top dollar, when priced right for condition and location. The "story" of the fourth quarter 2017 might well be about the double-digit decrease in the supply of homes available for sale across the region, except that it's now an old story, because that was also the story of 2016.

 

In the fourth quarter of 2017, the Charlotte region saw a:

  • 6.6% increase in average sale prices
  • 21.1% decrease in inventory of homes for sale
  • 1.8% increase in closed sales
  • 25.5% decrease in the months supply of homes (2.3 months supply)
  • 13.8% decrease in days on market
  • 0.4% increase in the percent of original price received

 

Charlotte NC Regions Housing Market Update: 4th Quarter 2017

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The "main" story in four of the most populated and in-demand counties (Mecklenburg and Union Counties in North Carolina; York and Lancaster Counties in South Carolina) in the Charlotte region is the lack of inventory of homes for sale, which has dropped in double digits. Mecklenburg County had only 1.3 months of inventory at the end of the fourth quarter. Union and York Counties had less than 2.2 months of inventory, while Lancaster County had 3.1 months  of inventory. It's clearly a seller's market in these four Charlotte metro area counties and the lack of inventory to meet demand continues to be "the story of the day." The lack of inventory is also impacting home prices, dampening sales, and affecting affordability.

 

Mecklenburg County, NC (where Charlotte City is located):

  • Average Sale Price: up 7.4% versus one year ago.
  • Inventory of Homes for Sale: down 22.7% versus one year ago.
  • Closed Sales: up 2.0% versus one year ago.
  • Months Supply of Homes for Sale: 1.3 months, down 27.5% versus one year ago.
  • Average Days on Market: 33 days, down 14.6% versus one year ago.

 

Union County, NC:

  • Average Sale Price:  down 1.1% versus one year ago.
  • Inventory of Homes for Sale: down 13.0% versus one year ago.
  • Closed Sales:  up 7.6% versus one year ago.
  • Months Supply of Homes for Sale: 2.2 months, down 11.8% versus one year ago.
  • Average Days on Market: 46 days, down 12.3% versus one year ago.

 

York County, SC (where Fort Mill, Tega Cay, Clover, Lake Wylie, York and Rock Hill are located):

  • Average Sale Price: down 0.3% versus one year ago.
  • Inventory of Homes for Sale: down 21.7% versus one year ago.
  • Closed Sales:  up 3.8% versus one year ago.
  • Months Supply of Homes for Sale: 1.9 months, down 24.2% versus one year ago.
  • Average Days on Market: 43 days, down 18.4% versus one year ago.

 

Lancaster County, SC

  • Average Sale Price:  up 5.6% versus one year ago.
  • Inventory of Homes For Sale:  down 22.5% versus one year ago.
  • Closed Sales: up 13.3% versus one year ago.
  • Months Supply of Homes for Sale: 3.1 months, up 4.5%. 
  • Average Days on Market:  49 days, down 11.7% versus one year ago.

 

See the charts below for more detailed information on 4th quarter home sales statistics:

 

Mecklenburg County, NC Housing Market Update 4th Quarter 2017
 

SEARCH ALL MECKLENBURG COUNTY HOMES FOR SALE

 


Union County, NC Housing Market Update 4th Quarter 2017

SEARCH ALL UNION COUNTY HOMES FOR SALE

 


 

York County, SC Housing Market Update 4th Quarter 2017

SEARCH ALL YORK COUNTY HOMES FOR SALE HERE

 


 

Lancaster County, SC Housing Update 4th Quarter 2017

SEARCH ALL LANCASTER COUNTY HOMES FOR SALE HERE


 

Charlotte Region Housing Market Report: 3rd Quarter 2017

Charlotte Region Housing Market Report: 2nd Quarter 2017

Charlotte Region Housing Market Report: 1st Quarter 2017

 

This quarterly Charlotte, NC region housing market update is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executiveyour Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

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