RE/MAX National Housing Report:
March 2017 Housing Data
The RE/MAX National Housing Report for April 2017: "Strong March home sales and low inventory means a tougher market for buyers," was the story of the month.
According to the April 2017 RE/MAX National Housing Report, March 2017 home sales were 6.6% higher than the nine-year-old report’s previous March record, set in 2016. , indicating a true seller's market.
To quote Dave Liniger, Chairman and CEO of RE/MAX: “We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation. We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.”
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 March 2017:
- Median sale price of Charlotte region homes was up 11.6% compared with March 2016 versus 11.0% nationally. Charlotte area's median price sale is catching up with national averages at $220,950 and increased from $198,000 just one year ago.
- Closed sales in Charlotte region also compared favorably with national averages of +6.6% with closed sales up 11.5% in March 2017 versus March 2016.
- Months supply of homes in the Charlotte region was 2.4 months, down 27.3% versus March 2016. Charlotte region's months supply of homes remains lower than the national average of 2.7 months.
- Inventory of homes in the Charlotte region was down 20.3% in March 2017 (compared with national figures down at 17.0%) as compared with one year ago.
- Average days on market in the Charlotte region compared favorably with national averages of 64 days with days on market until sale at 55 days (down 14 days and 20.3%) and cumulative days on market at 66 days (down 17.5%) in March 2017 versus the same month one year ago.
With continuing demand for homes and rising home prices 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.
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This monthly RE/MAX National Housing Report for April 2017 is brought to you courtesy of Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate consultants.
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