Quick Facts. For Week Ending March 9, 2019 Data current as of March 18, % % - 1.5% 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 March 9, 2019 Data current as of March 18, 2019 New listings and overall housing inventory are still proceeding slower than last year in many markets across the U.S., and they are mostly trailing activity for last year, which was already rather low. Sales have also been slower than last year at this time in areas with lingering winter weather, but the thaw is on. That may present a new set of difficulties for communities that have experienced an abundance of rain and snow over the last few months. In the Charlotte region, for the week ending March 9: New Listings decreased 0.4% to 1,329 Pending Sales increased 17.1% to 1,251 Inventory decreased 1.5% to 8,923 For the month of : Median Sales Price increased 2.3% to $232,250 List to Close decreased 0.9% to 105 Percent of Original List Price Received decreased 0.8% to 95.9% s Supply of Homes for Sale increased 4.5% to 2.3 Quick Facts - 0.4% % 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 - 1.5% 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 March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 1,400 1,200 1, /15/18 12/22/18 12/29/18 1/5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 For the Week Ending Ago 12/15/ % 12/22/ % 12/29/ % 1/5/ % 1/12/2019 1,130 1, % 1/19/2019 1, % 1/26/2019 1,036 1, % 2/2/2019 1,166 1, % 2/9/2019 1,167 1, % 2/16/2019 1,124 1, % 2/23/ , % 3/2/2019 1,290 1, % 3/9/2019 1,329 1, % 3- Total 12,581 12, % Historical New Listing 1,900 1,700 1,500 1,300 1, as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 1,400 1,200 1, /15/18 12/22/18 12/29/18 1/5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 For the Week Ending Ago 12/15/ % 12/22/ % 12/29/ % 1/5/ % 1/12/ % 1/19/ % 1/26/ % 2/2/ % 2/9/ % 2/16/2019 1, % 2/23/2019 1, % 3/2/2019 1,132 1, % 3/9/2019 1,251 1, % 3- Total 11,031 10, % Historical Pending Sales 1,500 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 March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 11,000 10,500 10,000 9,500 9,000 8,500 12/15/18 12/22/18 12/29/18 1/5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 For the Week Ending Ago 12/15/ ,432 10, % 12/22/ ,223 9, % 12/29/ ,075 9, % 1/5/2019 9,490 9, % 1/12/2019 9,469 9, % 1/19/2019 9,577 9, % 1/26/2019 9,476 9, % 2/2/2019 9,468 9, % 2/9/2019 9,432 9, % 2/16/2019 9,436 9, % 2/23/2019 9,310 9, % 3/2/2019 9,041 9, % 3/9/2019 8,923 9, % 3- Avg 9,566 9, % Historical Inventory 34,000 29,000 24,000 19,000 14,000 9,000 4,000 as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 % -0.9% March % April % May % June % July % August % September % October % November % December % January % % 12- Avg % Historical List to Close as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 % 0.0% March % April % May % June % July % August % September % October % November % December % January % % 12- Avg % +/- Historical Days on Market as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 % -1.5% March % April % May % June % July % August % September % October % November % December % January % % 12- Avg % +/- Historical Cumulative Days on Market as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 ShowingTime. 7

8 Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $227,000 $232,250 $199, % + 2.3% March 2018 $235,000 $219, % April 2018 $240,000 $223, % May 2018 $245,930 $223, % June 2018 $249,000 $241, % July 2018 $240,000 $235, % August 2018 $245,000 $225, % September 2018 $235,000 $223, % October 2018 $231,000 $220, % November 2018 $236,000 $221, % December 2018 $236,250 $233, % January 2019 $228,000 $215, % 2019 $232,250 $227, % 12- Avg $239,000 $225, % Historical Median Sales Price $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 $150,000 $130,000 as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 ShowingTime. 8

9 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $266,329 $278,297 $241, % + 4.5% March 2018 $280,350 $267, % April 2018 $292,320 $270, % May 2018 $299,776 $270, % June 2018 $302,011 $285, % July 2018 $290,575 $276, % August 2018 $294,592 $270, % September 2018 $280,983 $267, % October 2018 $278,765 $262, % November 2018 $285,745 $268, % December 2018 $281,535 $279, % January 2019 $268,999 $263, % 2019 $278,297 $266, % 12- Avg $287,753 $271, % Historical Average Sales Price $310,000 $290,000 $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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. 96.3% 96.7% 95.9% + 0.4% -0.8% 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% November % 96.5% - 0.6% December % 96.3% - 0.5% January % 96.0% - 0.4% % 96.7% - 0.8% 12- Avg 96.8% 96.9% - 0.1% Historical Percent of Original List Price Received 98% 96% 94% 92% 90% 88% 86% as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 % -1.8% March % April % May % June % July % August % September % October % November % December % January % % 12- Avg % Historical Housing Affordability Index as of March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 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 % + 4.5% March % April % May % June % July % August % September % October % November % December % January % % 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 March 18, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 ShowingTime. 12