RE/MAX January 2018 National Housing Report:
December 2017 Housing Data
The RE/MAX National Housing Report for January 2018: "2017 Closes Strong With Record High December Home Prices" was this month's headline. While sales dropped slightly from one year ago, December capped off 2017 with record home prices, speedy sales and low inventory.
To quote Adam Contos, RE/MAX Co-CEO: “We see the median sales price of homes across the country rising every month, year-over-year, but the days on market and the supply of homes for sale hit record lows in December. If inventory keeps getting tighter across the country it’ll be interesting to see how it might affect sales.”
For a more detailed review, click here for the latest RE/MAX National Housing Report.
How Charlotte, North Carolina's region compared to national statistics in December 2017:
- Median sale price of Charlotte region homes was up 11.9% compared with December 2016 versus 8.1% nationally. Charlotte area's median price sale of $235,000 in December has essentially caught up (and exceeded in December) with national averages and increased from $210,00 just one year ago.
- Closed sales in Charlotte region were considerably lower than national averages of 3.3% with closed sales down 8.4% in December 2017. This is very much due to the extreme lack of inventory in the Charlotte region.
- Months supply of homes in the Charlotte region was 2.0 months, down 23.1% versus December 2016. Charlotte region's months supply of homes remains lower than the national average of 3.7 months by more than a full month.
- Inventory of homes in the Charlotte region was down 19.4% in December 2017 (compared with national figures down at 14.6%) as compared with one year ago.
- Average days on market in the Charlotte region compared well with national averages of 57 days with days on market until sale at 47 days (down 7 days and 13.0% versus the prior year) and cumulative days on market at 57 days (down 10.9%) in December 2017 versus the same month one year ago.
With continuing demand for homes and rising home prices due to lack of inventory, it may be the perfect time to sell your home. It may also be the perfect time to buy a home before both home prices and interest rates rise further.
This real estate monthly update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your 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: