Quick Facts. For Week Ending December 8, 2018 Data current as of December 17, % % - 5.0% Metrics by Week

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1 Charlotte Region Weekly Market Report A RESEARCH TOOL PROVIDED BY THE CHARLOTTE REGIONAL REALTOR ASSOCIATION FOR MORE INFORMATION CONTACT A REALTOR For Week Ending December 8, 2018 Data current as of December 17, 2018 The month of December often equates to a full-scale slowdown in residential real estate, as thoughts shift from buying homes to buying gifts and plane tickets to visit family and friends. This year could be different. The Federal Reserve is set to raise interest rates one more time in Interest rate hikes don't necessarily create mortgage rate hikes, but they can. This may cause more purchase offers ahead of deeper affordability concerns in In the Charlotte region, for the week ending December 8: New Listings increased 8.0% to 838 Pending Sales increased 17.7% to 846 Inventory decreased 5.0% to 9,800 For the month of : Median Sales Price increased 6.8% to $236,000 List to Close decreased 2.1% to 94 Percent of Original List Price Received decreased 0.6% to 95.9% s Supply of Homes for Sale decreased 3.4% to 2.5 Quick Facts + 8.0% % Change in New Listings Change in Pending Sales Metrics by Week New Listings Pending Sales Inventory of Homes for Sale Metrics by List to Close Days on Market Until Sale Cumulative Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Housing Affordability Index s Supply of Homes for Sale - 5.0% Change in Inventory 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 as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 1

2 New Listings A count of the properties that have been newly listed on the market in a given week. Last Three s Ago 1,200 1,100 1, /15/18 9/22/18 9/29/18 10/6/18 10/13/18 10/20/18 10/27/18 11/3/18 11/10/18 11/17/18 11/24/18 12/1/18 12/8/18 For the Week Ending Ago 9/15/ , % 9/22/2018 1,159 1, % 9/29/2018 1,038 1, % 10/6/2018 1,153 1, % 10/13/2018 1,028 1, % 10/20/2018 1,119 1, % 10/27/2018 1, % 11/3/2018 1,093 1, % 11/10/2018 1, % 11/17/ % 11/24/ % 12/1/ % 12/8/ % 3- Total 12,752 12, % Historical New Listing 1,900 1,700 1,500 1,300 1, as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 2

3 Pending Sales A count of the properties on which contracts have been accepted in a given week. Pending contracts include Under Contract-Show and Under Contract-No Show statuses. Last Three s Ago 1, /15/18 9/22/18 9/29/18 10/6/18 10/13/18 10/20/18 10/27/18 11/3/18 11/10/18 11/17/18 11/24/18 12/1/18 12/8/18 For the Week Ending Ago 9/15/ % 9/22/ % 9/29/ % 10/6/ % 10/13/ % 10/20/ % 10/27/ % 11/3/ % 11/10/ % 11/17/ % 11/24/ % 12/1/ % 12/8/ % 3- Total 10,525 10, % Historical Pending Sales 1,300 1, 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 Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 3

4 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given week. Last Three s Ago 12,000 11,500 11,000 10,500 10,000 9,500 9/15/18 9/22/18 9/29/18 10/6/18 10/13/18 10/20/18 10/27/18 11/3/18 11/10/18 11/17/18 11/24/18 12/1/18 12/8/18 For the Week Ending Ago 9/15/ ,133 11, % 9/22/ ,089 11, % 9/29/ ,259 11, % 10/6/ ,028 11, % 10/13/ ,051 11, % 10/20/ ,923 11, % 10/27/ ,015 11, % 11/3/ ,900 11, % 11/10/ ,699 10, % 11/17/ ,644 10, % 11/24/ ,378 10, % 12/1/ ,143 10, % 12/8/2018 9,800 10, % 3- Avg 10,774 11, % Historical Inventory 34,000 29,000 24,000 19,000 14,000 9,000 4,000 as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 4

5 List to Close List to Close provides the total number of days specific to the MLS number from Listing Date to Sold Date % -2.1% December % January % February % March % April % May % June % July % August % September % October % % 12- Avg % Historical List to Close as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 5

6 Days on Market 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 % -6.6% December % January % February % March % April % May % June % July % August % September % October % % 12- Avg % +/- Historical Days on Market as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 6

7 Cumulative Days on Market Cumulative Days on Market (CDOM) functions like Days on Market (DOM); except CDOM tracks the DOM 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 (sold) or if the previous listing has been off the market (expired or withdrawn) for more than 90 days % -7.7% December % January % February % March % April % May % June % July % August % September % October % % 12- Avg % +/- Historical Cumulative Days on Market as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 7

8 Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $236,000 $221,000 $205, % + 6.8% December 2017 $233,000 $206, % January 2018 $215,000 $200, % February 2018 $227,000 $199, % March 2018 $235,000 $219, % April 2018 $240,000 $223, % May 2018 $245,960 $223, % June 2018 $248,750 $241, % July 2018 $240,000 $235, % August 2018 $245,000 $225, % September 2018 $235,000 $223, % October 2018 $231,000 $220, % 2018 $236,000 $221, % 12- Avg $237,780 $222, % Historical Median Sales Price $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 $150,000 $130,000 as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 8

9 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $254,609 $268,384 $286, % + 6.7% December 2017 $279,913 $256, % January 2018 $263,294 $256, % February 2018 $266,187 $241, % March 2018 $280,369 $267, % April 2018 $292,320 $270, % May 2018 $299,718 $270, % June 2018 $301,853 $285, % July 2018 $290,596 $276, % August 2018 $294,602 $270, % September 2018 $280,984 $267, % October 2018 $278,618 $262, % 2018 $286,473 $268, % 12- Avg $286,547 $267, % Historical Average Sales Price $310,000 $290,000 $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 9

10 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. 96.1% 96.5% 95.9% + 0.4% -0.6% 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% + 0.1% August % 97.2% - 0.2% September % 96.8% - 0.1% October % 96.7% - 0.5% % 96.5% - 0.6% 12- Avg 96.9% 96.8% + 0.1% Historical Percent of Original List Price Received 98% 96% 94% 92% 90% 88% 86% as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 10

11 Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % % December % January % February % March % April % May % June % July % August % September % October % % 12- Avg % Historical Housing Affordability Index as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 11

12 s Supply of Homes for Sale The months supply of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % -3.4% December % January % February % March % April % May % June % July % August % September % October % % 12- Avg % Historical s Supply of Inventory 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, s Supply of Homes for Sale stats trend lower since July as of December 17, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2018 ShowingTime. 12