Sales have been brisk, particularly at midpoint levels away from the highs and lows, and months’ supply of inventory continues to drop, sometimes significantly. For the 12-month period spanning July 2015 through June 2016, Pending Sales in the Charlotte region were up 10.0 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 18.5 percent.
The overall Median Sales Price was up 5.5 percent to $197,900. The property type with the largest price gain was the Condo segment, where prices increased 6.6 percent to $156,700. The price range that tended to sell the quickest was the $150,001 to $200,000 range at 44 days; the price range that tended to sell the slowest was the $100,000 and Below range at 80 days.
Market-wide, inventory levels were down 23.3 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 22.0 percent. That amounts to 3.3 months supply for SingleFamily homes and 1.8 months supply for Condos.
Source: CRRA Housing Supply Overview, June 2016
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Data based on information from the Charlotte Regional Realtor Association. Information deemed reliable, but not guaranteed.