Charlotte Region Housing Supply Overview

Charlotte Region Housing Supply Overview August 2018 The potential of an affordability conundrum has veered into the national spotlight, as household wages struggle to keep pace with home price increases. Yet it is ill-advised to predict a heavy shift toward fewer sales and lower prices. Consumers have learned a lot in the last decade. For the 12- month period spanning September 2017 through August 2018, Pending Sales in the Charlotte region were up 2.1 percent overall. The price range with the largest gain in sales was the range, where they increased 14.5 percent. The overall Median Sales Price was up 7.8 percent to $235,000. The property type with the largest price gain was the segment, where prices increased 8.8 percent to $185,000. The price range that tended to sell the quickest was the range at 23 days; the price range that tended to sell the slowest was the range at 64 days. Market-wide, inventory levels were down 14.3 percent. The property type that lost the least inventory was the segment, where it decreased 7.0 percent. That amounts to 2.6 months supply for homes and 1.6 months supply for Condos-Townhomes. Quick Facts + 14.5% + 3.7% + 3.6% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Pending Sales List to Close Days on Market Until Sale Cumulative Days on Market Until Sale Median Sales Price Percent of Original List Price Received Inventory of Homes for Sale Months Supply of Homes for Sale Additional Price Ranges Property Type With Strongest Sales: 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. 2 3 4 5 6 7 8 9 10 Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 1

Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 16,141 23,337 23,727 41,466 42,227 12,723 14,020 14,101 18,666 19,050 4,878 3,815 7,693 6,332 9,113 9,212 6,505 6,743 7,042 7,293-21.8% - 17.7% + 1.1% + 10.2% + 14.5% + 3.7% + 1.7% + 2.1% + 1.8% + 3.6% All Properties Change Change Change 4,878 3,815-21.8% 4,087 3,211-21.4% 791 604-23.6% 7,693 6,332-17.7% 5,867 4,809-18.0% 1,826 1,523-16.6% 9,113 9,212 + 1.1% 7,403 7,365-0.5% 1,710 1,847 + 8.0% 12,723 14,020 + 10.2% 10,910 11,819 + 8.3% 1,813 2,201 + 21.4% 14,101 16,141 + 14.5% 13,199 15,023 + 13.8% 902 1,118 + 23.9% All Price Ranges 48,508 49,520 + 2.1% 41,466 42,227 + 1.8% 7,042 7,293 + 3.6% Change Change Change 6,505 6,743 + 3.7% 2,847 2,979 + 4.6% 3,658 3,764 + 2.9% 3 Bedrooms 23,337 23,727 + 1.7% 20,253 20,507 + 1.3% 3,084 3,220 + 4.4% 4 Bedrooms or 18,666 19,050 + 2.1% 18,366 18,741 + 2.0% 300 309 + 3.0% All Bedroom Counts 48,508 49,520 + 2.1% 41,466 42,227 + 1.8% 7,042 7,293 + 3.6% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 2

List to Close A count of the days between the date listed and the date closed for all properties sold. Based on a rolling 12-month average. 108 93 83 78 80 71 91 84 129 120 94 92 79 84 113 109 102 95 94 83-13.9% - 6.0% - 11.3% - 7.7% - 7.0% - 16.0% -8.7% -3.5% -6.9% - 11.7% All Properties Change Change Change 108 93-13.9% 113 96-15.0% 81 75-7.4% 83 78-6.0% 87 83-4.6% 70 63-10.0% 80 71-11.3% 81 72-11.1% 78 65-16.7% 91 84-7.7% 90 83-7.8% 100 90-10.0% 129 120-7.0% 126 118-6.3% 172 139-19.2% All Price Ranges 100 93-7.0% 102 95-6.9% 94 83-11.7% Change Change Change 94 79-16.0% 109 93-14.7% 82 68-17.1% 3 Bedrooms 92 84-8.7% 90 82-8.9% 105 98-6.7% 4 Bedrooms or 113 109-3.5% 113 109-3.5% 124 109-12.1% All Bedroom Counts 100 93-7.0% 102 95-6.9% 94 83-11.7% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 3

Days on Market Until Sale Average number of days between when a property is first listed and when an offer is accepted. Based on a rolling 12-month average. 68 52 35 30 32 23 43 36 69 64 48 37 42 34 59 56 52 45 36 30-23.5% - 14.3% - 28.1% - 16.3% - 7.2% - 22.9% - 19.0% - 5.1% - 13.5% - 16.7% All Properties Change Change Change 68 52-23.5% 73 56-23.3% 42 34-19.0% 35 30-14.3% 39 34-12.8% 24 19-20.8% 32 23-28.1% 33 24-27.3% 27 20-25.9% 43 36-16.3% 43 36-16.3% 40 33-17.5% 69 64-7.2% 69 65-5.8% 65 60-7.7% All Price Ranges 50 43-14.0% 52 45-13.5% 36 30-16.7% Change Change Change 48 37-22.9% 65 50-23.1% 34 27-20.6% 3 Bedrooms 42 34-19.0% 43 35-18.6% 37 32-13.5% 4 Bedrooms or 59 56-5.1% 59 56-5.1% 58 50-13.8% All Bedroom Counts 50 43-14.0% 52 45-13.5% 36 30-16.7% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 4

Cumulative Days on Market Until Sale Cumulative Days on Market (CDOM) functions like Days on Market (DOM), but CDOM tracks DOM for a property over a period of multiple listings. When a new listing is entered, CDOM resets to zero only if the previous listing closed (sold) or if the previous listing has been off the market (expired, withdrawn) for more than 90 days. Based on a rolling 12-month average. 77 86 82 72 69 61 54 59 40 33 36 26 49 41 54 42 49 40 41 35-23.4% - 17.5% - 27.8% - 16.3% - 4.7% - 22.2% - 18.4% - 4.2% - 11.5% - 14.6% All Properties Change Change Change 77 59-23.4% 83 63-24.1% 44 38-13.6% 40 33-17.5% 44 38-13.6% 27 20-25.9% 36 26-27.8% 37 27-27.0% 32 23-28.1% 49 41-16.3% 50 42-16.0% 46 38-17.4% 86 82-4.7% 86 82-4.7% 77 74-3.9% All Price Ranges 58 52-10.3% 61 54-11.5% 41 35-14.6% Change Change Change 54 42-22.2% 75 57-24.0% 38 31-18.4% 3 Bedrooms 49 40-18.4% 49 40-18.4% 43 38-11.6% 4 Bedrooms or 72 69-4.2% 72 70-2.8% 63 57-9.5% All Bedroom Counts 58 52-10.3% 61 54-11.5% 41 35-14.6% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 5

Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $133,000 $144,000 $177,000 $195,000 $315,000 $330,000 $218,000 $235,000 $229,900 $245,000 $170,000 $185,000 + 8.3% + 10.2% + 4.8% + 7.8% + 6.6% + 8.8% All Properties All Properties Change Change Change $133,000 $144,000 + 8.3% $98,500 $110,000 + 11.7% $148,000 $159,250 + 7.6% 3 Bedrooms $177,000 $195,000 + 10.2% $174,750 $190,000 + 8.7% $197,760 $217,785 + 10.1% 4 Bedrooms or $315,000 $330,000 + 4.8% $316,000 $330,000 + 4.4% $243,000 $250,000 + 2.9% All Bedroom Counts $218,000 $235,000 + 7.8% $229,900 $245,000 + 6.6% $170,000 $185,000 + 8.8% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 6

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, not accounting for seller concessions. Based on a rolling 12-month average. 97.8% 97.8% 97.9% 98.2% 97.5% 97.6% 96.6% 96.6% 97.1% 97.6% 97.9% 98.3% 96.7% 96.7% 91.4% 91.7% 95.5% 95.9% 96.5% 96.8% + 0.3% 0.0% + 0.3% + 0.1% 0.0% + 0.4% + 0.5% 0.0% + 0.3% + 0.4% All Properties Change Change Change 91.4% 91.7% + 0.3% 90.7% 91.0% + 0.3% 95.0% 95.3% + 0.3% 97.8% 97.8% 0.0% 97.5% 97.6% + 0.1% 98.4% 98.7% + 0.3% 97.9% 98.2% + 0.3% 97.9% 98.2% + 0.3% 98.3% 98.4% + 0.1% 97.5% 97.6% + 0.1% 97.4% 97.5% + 0.1% 98.2% 98.5% + 0.3% 96.6% 96.6% 0.0% 96.5% 96.5% 0.0% 98.0% 98.6% + 0.6% All Price Ranges 96.7% 97.0% + 0.3% 96.5% 96.8% + 0.3% 97.9% 98.3% + 0.4% Change Change Change 95.5% 95.9% + 0.4% 92.9% 93.6% + 0.8% 97.4% 97.7% + 0.3% 3 Bedrooms 97.1% 97.6% + 0.5% 96.9% 97.3% + 0.4% 98.5% 98.9% + 0.4% 4 Bedrooms or 96.7% 96.7% 0.0% 96.7% 96.6% - 0.1% 97.4% 97.9% + 0.5% All Bedroom Counts 96.7% 97.0% + 0.3% 96.5% 96.8% + 0.3% 97.9% 98.3% + 0.4% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 7

Inventory of Homes for Sale The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity. 6,046 5,759 6,043 5,184 10,662 9,053 4,247 3,799 2,353 2,199 1,194 1,005 1,138 576 614 904 1,446 1,069 1,074 999-51.8% - 38.9% - 20.6% - 6.5% - 4.7% - 26.1% - 10.5% - 14.2% - 15.1% - 7.0% All Properties Change Change Change 1,194 576-51.8% 1,066 533-50.0% 128 43-66.4% 1,005 614-38.9% 854 533-37.6% 151 81-46.4% 1,138 904-20.6% 967 742-23.3% 171 162-5.3% 2,353 2,199-6.5% 2,037 1,854-9.0% 316 345 + 9.2% 6,046 5,759-4.7% 5,738 5,391-6.0% 308 368 + 19.5% All Price Ranges 11,736 10,052-14.3% 10,662 9,053-15.1% 1,074 999-7.0% Change Change Change 1,446 1,069-26.1% 919 641-30.3% 527 428-18.8% 3 Bedrooms 4,247 3,799-10.5% 3,794 3,308-12.8% 453 491 + 8.4% 4 Bedrooms or 6,043 5,184-14.2% 5,949 5,104-14.2% 94 80-14.9% All Bedroom Counts 11,736 10,052-14.3% 10,662 9,053-15.1% 1,074 999-7.0% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 8

Months Supply of Homes for Sale The months supply of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months. 5.1 4.3 3.9 3.3 3.1 2.6 2.9 1.8 1.6 1.5 1.2 1.2 2.2 1.9 2.7 2.2 1.9 1.9 1.8 1.6-37.9% - 25.0% - 20.0% - 13.6% - 15.7% - 29.6% - 13.6% - 15.4% - 16.1% - 11.1% All Properties Change Change Change 2.9 1.8-37.9% 3.1 2.0-35.5% 1.9 0.9-52.6% 1.6 1.2-25.0% 1.7 1.3-23.5% 1.0 0.6-40.0% 1.5 1.2-20.0% 1.6 1.2-25.0% 1.2 1.1-8.3% 2.2 1.9-13.6% 2.2 1.9-13.6% 2.1 1.9-9.5% 5.1 4.3-15.7% 5.2 4.3-17.3% 4.1 3.9-4.9% All Price Ranges 2.9 2.4-17.2% 3.1 2.6-16.1% 1.8 1.6-11.1% Change Change Change 2.7 1.9-29.6% 3.9 2.6-33.3% 1.7 1.4-17.6% 3 Bedrooms 2.2 1.9-13.6% 2.2 1.9-13.6% 1.8 1.8 0.0% 4 Bedrooms or 3.9 3.3-15.4% 3.9 3.3-15.4% 3.8 3.1-18.4% All Bedroom Counts 2.9 2.4-17.2% 3.1 2.6-16.1% 1.8 1.6-11.1% Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 9

Additional Price Ranges Closed Sales and Inventory of Homes for Sale for a wider set of price ranges, given for a rolling 12-month period, compared to prior month and year to date. Closed Sales Actual sales that have closed in a given month. All Properties Rolling 12 Months 7,535 5,686 5,361 4,522 7,711 7,514 8,386 9,190 9,737 10,811 6,038 6,689 3,366 3,667 544 642 41,518 41,528 7,160 7,193 48,678 48,721-24.5% - 15.7% - 2.6% + 9.6% + 11.0% + 10.8% + 8.9% + 18.0% < $120K $120K to $150K $150K to $190K $190K to $250K $250K to $350K $350K to $500K $500K to $999K $1.0M + + 0.0% + 0.5% + 0.1% All Properties Change Change 7-2018 8-2018 Change 7-2018 8-2018 Change Change Change $120,000 and 6,106 4,612-24.5% 1,429 1,074-24.8% 334 342 + 2.4% 67 66-1.5% 3,926 2,964-24.5% 892 644-27.8% $120,001 to 4,101 3,393-17.3% 1,260 1,129-10.4% 269 268-0.4% 96 79-17.7% 2,699 2,090-22.6% 861 721-16.3% $190,000 6,192 5,929-4.2% 1,519 1,585 + 4.3% 532 567 + 6.6% 151 139-7.9% 4,142 3,872-6.5% 1,060 1,076 + 1.5% $190,001 to $250,000 6,941 7,610 + 9.6% 1,445 1,580 + 9.3% 766 772 + 0.8% 152 148-2.6% 4,799 5,217 + 8.7% 1,012 1,141 + 12.7% $250,001 to $350,000 8,810 9,674 + 9.8% 927 1,137 + 22.7% 927 898-3.1% 119 97-18.5% 6,173 6,675 + 8.1% 693 776 + 12.0% $350,001 to $500,000 5,668 6,288 + 10.9% 370 401 + 8.4% 593 674 + 13.7% 18 44 + 144.4% 3,962 4,434 + 11.9% 284 267-6.0% $500,001 to $999,999 3,179 3,412 + 7.3% 187 255 + 36.4% 347 335-3.5% 16 18 + 12.5% 2,278 2,421 + 6.3% 138 190 + 37.7% $1M and 521 610 + 17.1% 23 32 + 39.1% 57 66 + 15.8% 3 1-66.7% 376 454 + 20.7% 12 19 + 58.3% All Price Ranges 41,518 41,528 + 0.0% 7,160 7,193 + 0.5% 3,825 3,922 + 2.5% 622 592-4.8% 28,355 28,127-0.8% 4,952 4,834-2.4% Inventory of Homes for Sale Rolling 12 Months Compared to Prior Month Year to Date The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity. All Properties 1,519 782 680 898 1,270 408 681 1,244 2,540 2,371 2,373 2,178 1,910 1,831 546 557 10,662 9,053 1,074 999 11,736 10,052-48.5% - 40.0% - 24.2% - 2.0% - 6.7% - 8.2% - 4.1% + 2.0% < $120K $120K to $150K $150K to $190K $190K to $250K $250K to $350K $350K to $500K $500K to $999K $1.0M + Year over Year Compared to Prior Month Year to Date Change Change 7-2018 8-2018 Change 7-2018 8-2018 Change $120,000 and 1,329 717-46.0% 190 65-65.8% 721 717-0.6% 71 65-8.5% $120,001 to 591 349-40.9% 89 59-33.7% 357 349-2.2% 58 59 + 1.7% $190,000 758 552-27.2% 140 129-7.9% 514 552 + 7.4% 121 129 + 6.6% $190,001 to $250,000 1,057 1,027-2.8% 213 217 + 1.9% 939 1,027 + 9.4% 205 217 + 5.9% $250,001 to $350,000 2,340 2,126-9.1% 200 245 + 22.5% 1,983 2,126 + 7.2% 233 245 + 5.2% $350,001 to $500,000 2,251 2,038-9.5% 122 140 + 14.8% 2,053 2,038-0.7% 136 140 + 2.9% $500,001 to $999,999 1,808 1,719-4.9% 102 112 + 9.8% 1,722 1,719-0.2% 102 112 + 9.8% $1M and 528 525-0.6% 18 32 + 77.8% 549 525-4.4% 26 32 + 23.1% All Price Ranges 10,662 9,053-15.1% 1,074 999-7.0% 8,838 9,053 + 2.4% 952 999 + 4.9% - 15.1% - 7.0% - 14.3% Singe-Family All Properties There are no year-to-date figures for inventory because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months. Current as of September 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 10