According to a recent report by the Charlotte Regional Realtor Association, home sales in the area decreased by 9.8%, marking six months of straight declines. Despite a lack of inventory and price increases, Jason Gentry, president of the group said, “We are optimistic that sales in the market will continue at a steady pace based on positive pending sales and new listing activity,”
Last month, the Charlotte metro area, which includes 12 counties in North Carolina and four in South Carolina, saw 3,617 properties sold, according to Carolina Multiple Listing Services data. That’s down from 4,012 properties sold in October 2017.
Prices rose year over year, but dropped slightly compared with September. Average sales price in October 2018 was $278,634, a 6 percent increase from October 2017. The median sales price increased 5 percent to $231,000, for the same time period. Meanwhile, the average sales prices decreased 1 percent and the median sales price decreased 1.7 percent for October, compared with September.
A major contributor in a decline of sales has been a lack of inventory in the Charlotte area. In part, that’s because potential sellers have hesitated to put their properties on the market, because they could not find a home in their price-range to buy.Read More