Charlotte region remained a seller’s market in November 2019 with inventory remaining extremely tight, dropping 22.6% compared with November 2018. Year-over-year home prices increased, days on market decreased, new listings decreased. Housing affordability index continues to decrease, as well.
Charlotte Real Estate Report & Housing Market Snapshot: November 2019
Charlotte region remained a seller’s market in November 2019 with inventory remaining extremely tight, dropping 22.6% compared with November 2018.
Lack of inventory and new listings resulted in higher home list and sale prices year-over-year, and year-to-date. Average sale prices increased 7.2% and median sale prices increased 8.1% year-over-year. Year-to-date average and median sale prices increased 5.6% and 7.1% respectively.
Closed salesincreased 2%, while pending sales were up 20.3% year-over-year in November.
Homes continue to sell quickly with average days on market 42 days, down 2 days from one year ago. Cumulative days on market were down 2 days year-over-year and the days from list to close dropped by 3 days year-over-year.
The housing affordability index continued to decrease, as well ~ down 8% year-over-year and 8% year-to-date.
Months supply of homes remained very low at 1.9 months (down 29.6% year-over-year from 2.7 months one year ago) and even lower for homes priced under $200,000.
Year-to-date trends are all also showing higher home sale prices, higher sales, and tight inventory.
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