Quick Facts. For Week Ending February 16, 2019 Data current as of February 25, % % - 0.3% 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 February 16, 2019 Data current as of February 25, 2019 The National Association of REALTORS has reported in the last month that national existing-home sales and pending sales are both down in year-over-year comparisons, but that has not necessarily been a constant from market to market. While weather-related events have hampered some of the necessary machinations of making home sales, buyers have shown determination toward achieving their homeownership goals. This week has shown some sales strain in many markets, but spring is just around the corner. In the Charlotte region, for the week ending February 16: New Listings decreased 1.2% to 1,124 Pending Sales increased 15.3% to 1,129 Inventory decreased 0.3% to 9,064 For the month of : Median Sales Price increased 5.6% to $227,000 List to Close increased 1.0% to 106 Percent of Original List Price Received decreased 0.5% to 95.5% s Supply of Homes for Sale increased 4.5% to 2.3 Quick Facts - 1.2% % 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 - 0.3% 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 February 25, 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, /24/18 12/1/18 12/8/18 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 For the Week Ending Ago 11/24/ % 12/1/ % 12/8/ % 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, % 3- Total 11,303 10, % Historical New Listing 1,900 1,700 1,500 1,300 1, as of February 25, 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 1,200 1, /24/18 12/1/18 12/8/18 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 For the Week Ending Ago 11/24/ % 12/1/ % 12/8/ % 12/15/ % 12/22/ % 12/29/ % 1/5/ % 1/12/ % 1/19/ % 1/26/ % 2/2/ % 2/9/2019 1, % 2/16/2019 1, % 3- Total 9,976 9, % 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 February 25, 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 11/24/18 12/1/18 12/8/18 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 For the Week Ending Ago 11/24/ ,853 10, % 12/1/ ,685 10, % 12/8/ ,452 10, % 12/15/ ,337 10, % 12/22/ ,117 9, % 12/29/2018 9,958 9, % 1/5/2019 9,366 9, % 1/12/2019 9,332 9, % 1/19/2019 9,420 9, % 1/26/2019 9,286 9, % 2/2/2019 9,246 9, % 2/9/2019 9,151 9, % 2/16/2019 9,064 9, % 3- Avg 9,790 9, % Historical Inventory 34,000 29,000 24,000 19,000 14,000 9,000 4,000 as of February 25, 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 % + 1.0% February % March % April % May % June % July % August % September % October % November % December % % 12- Avg % Historical List to Close as of February 25, 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 % -5.7% February % March % April % May % June % July % August % September % October % November % December % % 12- Avg % +/- Historical Days on Market as of February 25, 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 % -3.2% February % March % April % May % June % July % August % September % October % November % December % % 12- Avg % +/- Historical Cumulative Days on Market as of February 25, 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. $215,000 $227,000 $200, % + 5.6% February 2018 $227,000 $199, % 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 $235,995 $233, % 2019 $227,000 $215, % 12- Avg $238,730 $225, % Historical Median Sales Price $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 $150,000 $130,000 as of February 25, 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. $256,226 $263,294 $268, % + 1.9% February 2018 $266,329 $241, % March 2018 $280,352 $267, % April 2018 $292,320 $270, % May 2018 $299,776 $270, % June 2018 $302,012 $285, % July 2018 $290,575 $276, % August 2018 $294,582 $270, % September 2018 $280,973 $267, % October 2018 $278,780 $262, % November 2018 $285,745 $268, % December 2018 $281,568 $279, % 2019 $268,388 $263, % 12- Avg $287,038 $270, % Historical Average Sales Price $310,000 $290,000 $270,000 $250,000 $230,000 $210,000 $190,000 $170,000 as of February 25, 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. 95.9% 96.0% 95.5% + 0.1% -0.5% February % 96.3% + 0.4% 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% % 96.0% - 0.5% 12- Avg 96.9% 96.9% 0.0% Historical Percent of Original List Price Received 98% 96% 94% 92% 90% 88% 86% as of February 25, 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 % -6.4% February % March % April % May % June % July % August % September % October % November % December % % 12- Avg % Historical Housing Affordability Index as of February 25, 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% February % March % April % May % June % July % August % September % October % November % December % % 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 February 25, All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Report 2019 ShowingTime. 12