RE/MAX National Housing Report:
January 2017 Housing Data
The RE/MAX National Housing Report for February 2017: "Home sales in January 2017 set a record pace as a result of the tug-of-war between rising home sales and shrinking inventory" was the story of the month.
According to the February 2017 RE/MAX National Housing Report, January 2017 home sales topped all other Januarys in the report's nine-year history with the most sales, highest sale prices, and fewest days on market! Housing inventory has now declined year-over-year for 99 consecutive months (that's dating back to October 2008).
To quote Dave Liniger, Chairman and CEO of RE/MAX: “January may have set the tone for the coming home-buying season with homes selling faster and at higher prices. Home-buyer demand is strong, and not enough sellers are listing to keep up with the demand, despite rising prices. At any rate, the beginning of 2017 continued the strong pace of 2016.”
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 January 2017:
- Median sale price of Charlotte region homes was up 14.5% compared with January 2016 versus 4.3% nationally. Charlotte area's median price sale is catching up with national averages at $205,000 and increased from $179,000 just one year ago.
- Closed sales in Charlotte region also compared favorably with national averages of 4.5% with closed sales up 14.8% in January 2017 versus January 2016.
- Months supply of homes in the Charlotte region was 2.3 months, down 30.3% versus January 2016. Charlotte region's months supply of homes is considerably lower than the national average of 3.8 months.
- Inventory of homes in the Charlotte region was down 25.0% in January 2017(compared with national figures down at 16.9%) as compared with one year ago.
- Average days on market in the Charlotte region compared favorably with national averages of 66 day with days on market until sale at 55 days (down 11 days and 16.7%) and cumulative days on market at 64 days (down 16.9%) in January 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 prices and interest rates rise further.
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This monthly RE/MAX National Housing Report for February 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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