Charlotte Region Monthly Indicators

Transcription

1 Charlotte Region Monthly Indicators A RESEARCH TOOL PROVIDED BY CHARLOTTE REGIONAL REALTOR ASSOCIATION FOR MORE INFORMATION CONTACT A REALTOR 2018 Some economy observers are pointing to 2018 as the final period in a long string of sentences touting several happy years of buyer demand and sales excitement for the housing industry. Although residential real estate should continue along a mostly positive line for the rest of the year, rising prices and interest rates coupled with salary stagnation and a generational trend toward home purchase delay or even disinterest could create an environment of declining sales. New Listings were down in the Charlotte region by 10.5 percent to 4,333. Pending Sales decreased 6.6 percent to 3,659. Inventory shrank 11.7 percent to 10,210 units. Prices moved higher as Median Sales Price was up 5.1 percent to $235,000. Months Supply of Homes for Sale was down 10.7 percent to 2.5 months, indicating that demand increased relative to supply. Tracking reputable news sources for housing market predictions makes good sense, as does observing trends based on meaningful statistics. By the numbers, we continue to see pockets of unprecedented price heights combined with low days on market and an economic backdrop conducive to consistent demand. We were reminded by Hurricane Florence of how quickly a situation can change. Rather than dwelling on predictions of a somber future, it is worth the effort to manage the fundamentals that will lead to an ongoing display of healthy balance. Quick Facts % + 5.1% % Year-Over-Year Change in Closed Sales Year-Over-Year Change in Median Sales Price Market Overview New Listings Pending Sales Closed Sales List to Close Days on Market Until Sale Cumulative Days on Market Until Sale Average List Price Average Sales Price Median Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Homes for Sale Year-Over-Year Change in Homes for Sale The Charlotte Region report includes Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties in North Carolina, and Chester, Chesterfield, Lancaster and York counties in South Carolina. Comprised of single-family properties, townhomes and condominiums combined. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Percent changes are calculated using rounded figures Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 1

2 Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars YTD 2017 YTD 2018 New Listings 4,840 4, % 49,004 48, % Pending Sales 3,918 3, % 39,237 38, % Closed Sales 4,302 3, % 37,610 36, % List to Close % % Days on Market Until Sale % % Cumulative Days on Market % % Average List Price $308,848 $320, % $310,512 $323, % Average Sales Price $267,496 $281, % $269,468 $288, % Median Sales Price $223,638 $235, % $224,500 $239, % Pct. of Original List Price Received 96.8% 96.7% - 0.1% 97.0% 97.1% + 0.1% Housing Affordability Index % % Inventory of Homes for Sale 11,561 10, % Months Supply of Homes for Sale % Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 2

3 New Listings A count of the properties that have been newly listed on the market in a given month. 4,701 4,840 4,333 46, % + 3.0% % + 2.7% + 4.8% 49,004 48, % New Listings October ,485 4, % November ,834 3, % December ,718 2, % January ,017 4, % February ,677 4, % March ,997 6, % April ,815 5, % May ,382 6, % June ,956 5, % July ,590 5, % August ,665 5, % ,333 4, % 12-Month Avg 4,956 4, % Historical New Listings by Month 8,000 7,000 6,000 5,000 4,000 3,000 2,000 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 3

4 Pending Sales A count of the properties on which contracts have been accepted in a given month. Pending contracts include "Under Contract-Show" and "Under Contract-No Show" statuses. 3,699 3,918 3,659 37, % + 5.9% - 6.6% + 8.5% + 5.1% 39,237 38, % Pending Sales October ,893 3, % November ,285 3, % December ,768 2, % January ,488 3, % February ,855 3, % March ,701 4, % April ,802 4, % May ,799 4, % June ,632 4, % July ,532 4, % August ,411 4, % ,659 3, % 12-Month Avg 4,069 4, % Historical Pending Sales by Month 6,000 5,000 4,000 3,000 2,000 1,000 Note: CarolinaMLS did not include "Showable" Under Contract listings in the Pending Sales stats before July Listing agents report listings as "Under Contract-Show" earlier in the transaction. As a result, Pending Sales stats trend higher since July Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 4

5 Closed Sales A count of the actual sales that closed in a given month. 4,278 4,302 3,642 35, % + 0.6% % + 7.4% + 6.8% 37,610 36, % Closed Sales October ,012 3, % November ,756 3, % December ,690 3, % January ,758 2, % February ,857 2, % March ,087 4, % April ,216 3, % May ,833 4, % June ,060 5, % July ,673 4, % August ,820 4, % ,642 4, % 12-Month Avg 4,034 4, % Historical Closed Sales by Month 6,000 5,000 4,000 3,000 2,000 1,000 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 5

6 List to Close List to Close provides the total number of days specific to the MLS number from "Listing Date" to "Sold Date." Historical List to Close by Month % - 9.0% - 4.4% -8.5% -9.3% % List to Close October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * List to Close for all properties from October 2017 through This is not the average of the individual figures above Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 6

7 Days on Market Until Sale Days on Market (DOM) tracks the days on market for a property specific to the MLS number. DOM accrues for "Active" and "Under Contract-Show" statuses. DOM does not include any days that the listing is in "Under Contract-No Show," "Temporarily off Market," "Closed/Sold," "Expired" and "Withdrawn" statuses Historical Days on Market Until Sale by Month % % % % % % Days on Market October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * Days on Market for all properties from October 2017 through This is not the average of the individual figures above Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 7

8 Cumulative Days on Market Until Sale Cumulative Days on Market (CDOM) functions like DOM; however, CDOM tracks the days on market for a property over multiple listings on the property. When a new listing is entered, the CDOM only resets to zero if the previous listing closed (as in sold) or if the previous listing has been off market (expired or withdrawn) for more than 90 days Historical Cumulative Days on Market Until Sale by Month % % % % % % Cumulative Days on Market October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * Cumulative Days on Market for all properties from October 2017 through This is not the average of the individual figures above Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 8

9 Average List Price Average list price for all homes that have been newly listed on the market in a given month. $291,710 $308,848 $320,242 Historical Average List Price by Month $295,873 $310, % + 5.9% + 3.7% + 7.5% + 4.9% $323, % Average List Price October 2017 $296,853 $284, % November 2017 $291,810 $268, % December 2017 $284,116 $270, % January 2018 $312,051 $298, % February 2018 $324,338 $311, % March 2018 $340,569 $326, % April 2018 $337,035 $321, % May 2018 $335,636 $318, % June 2018 $317,021 $308, % July 2018 $304,531 $302, % August 2018 $312,323 $292, % 2018 $320,242 $308, % 12-Month Avg* $317,553 $304, % * Average List Price for all properties from October 2017 through This is not the average of the individual figures above. $350,000 $325,000 $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 9

10 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $252,720 $267,496 $281,533 Historical Average Sales Price by Month $254,382 $269, % + 5.8% + 5.2% + 6.2% + 5.9% $288, % Average Sales Price October 2017 $262,893 $252, % November 2017 $268,342 $254, % December 2017 $279,872 $256, % January 2018 $263,287 $256, % February 2018 $266,187 $241, % March 2018 $280,327 $267, % April 2018 $292,357 $270, % May 2018 $299,669 $270, % June 2018 $301,576 $285, % July 2018 $290,556 $276, % August 2018 $294,428 $270, % 2018 $281,533 $267, % 12-Month Avg* $283,797 $266, % * Average Sales Price for all properties from October 2017 through This is not the average of the individual figures above. $320,000 $300,000 $280,000 $260,000 $240,000 $220,000 $200,000 $180,000 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 10

11 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. $201,900 $223,638 $235,000 Historical Median Sales Price by Month $203,000 $224, % % + 5.1% + 6.8% % $239, % Median Sales Price October 2017 $220,000 $205, % November 2017 $221,000 $205, % December 2017 $232,950 $206, % January 2018 $215,000 $200, % February 2018 $227,000 $199, % March 2018 $235,000 $219, % April 2018 $240,000 $223, % May 2018 $245,500 $223, % June 2018 $248,085 $241, % July 2018 $240,000 $235, % August 2018 $245,000 $225, % 2018 $235,000 $223, % 12-Month Avg* $235,000 $220, % * Median Sales Price for all properties from October 2017 through This is not the average of the individual figures above. $260,000 $240,000 $220,000 $200,000 $180,000 $160,000 $140,000 $120,000 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 11

12 Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 96.2% 96.8% 96.7% Historical Percent of Original List Price Received by Month 96.2% 97.0% 97.1% + 1.1% + 0.6% - 0.1% + 1.3% + 0.8% + 0.1% Pct. of Orig. Price Received October % 96.2% +0.5% November % 96.1% +0.4% December % 95.7% +0.6% January % 95.9% +0.1% February % 96.3% +0.3% March % 96.8% +0.4% April % 97.2% +0.2% May % 97.3% +0.3% June % 97.5% +0.3% July % 97.2% 0.0% August % 97.2% -0.2% % 96.8% -0.1% 12-Month Avg* 97.0% 96.8% +0.2% * Pct. of Orig. Price Received for all properties from October 2017 through This is not the average of the individual figures above % 98.0% 96.0% 94.0% 92.0% 90.0% 88.0% 86.0% Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 12

13 Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % - 8.2% - 9.8% -3.2% -7.4% % Affordability Index October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg % Historical Housing Affordability Index by Month Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 13

14 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 12,629 11,561 10, % -8.5% % Homes for Sale October ,980 12, % November ,390 11, % December ,219 10, % January ,958 10, % February ,834 10, % March ,347 10, % April ,625 11, % May ,291 11, % June ,633 11, % July ,692 11, % August ,729 11, % ,210 11, % 12-Month Avg 9,992 11, % Historical Inventory of Homes for Sale by Month 40,000 30,000 20,000 10,000 0 Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 14

15 Months Supply of Homes for Sale The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % % % Historical Months Supply of Homes for Sale by Month Months Supply October % November % December % January % February % March % April % May % June % July % August % % 12-Month Avg* % * Months Supply for all properties from October 2017 through This is not the average of the individual figures above Note: CarolinaMLS did not include "Showable" Under Contract listings in the Pending Sales stats before July Listing agents report listings as "Under Contract-Show" earlier in the transaction. As a result, Months Supply of Homes for Sale stats trend lower since July Current as of October 5, All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 15