Charlotte Region Housing Supply Overview October 2018 Although every community is different, a general analysis of all housing markets across the country reveals that housing inventory is slowly moving toward balance with year-ago levels. This is the first indication in years that we may be approaching an inventory bottom. For the 12-month period spanning November 2017 through October 2018, Pending Sales in the Charlotte region were down 0.4 percent overall. The price range with the largest gain in sales was the range, where they increased 11.3 percent. The overall Median Sales Price was up 7.5 percent to $236,500. The property type with the largest price gain was the segment, where prices increased 8.2 percent to $187,580. 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 8.7 percent. The property type that lost the least inventory was the segment, where it decreased 0.5 percent. That amounts to 2.6 months supply for homes and 1.8 months supply for Condos-Townhomes. Quick Facts + 11.3% + 1.0% - 0.1% 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 November 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. 12,989 13,965 14,448 16,076 23,514 23,298 18,791 18,745 41,663 41,631 4,680 3,658 7,540 6,007 9,200 8,953 6,552 6,616 7,194 7,028-21.8% - 20.3% - 2.7% + 7.5% + 11.3% + 1.0% -0.9% -0.2% -0.1% -2.3% Change Change Change 4,680 3,658-21.8% 3,908 3,097-20.8% 772 561-27.3% 7,540 6,007-20.3% 5,754 4,543-21.0% 1,786 1,464-18.0% 9,200 8,953-2.7% 7,423 7,193-3.1% 1,777 1,760-1.0% 12,989 13,965 + 7.5% 11,079 11,810 + 6.6% 1,910 2,155 + 12.8% 14,448 16,076 + 11.3% 13,499 14,988 + 11.0% 949 1,088 + 14.6% All Price Ranges 48,857 48,659-0.4% 41,663 41,631-0.1% 7,194 7,028-2.3% Change Change Change 6,552 6,616 + 1.0% 2,853 2,975 + 4.3% 3,699 3,641-1.6% 3 Bedrooms 23,514 23,298-0.9% 20,339 20,195-0.7% 3,175 3,103-2.3% 4 Bedrooms or 18,791 18,745-0.2% 18,471 18,461-0.1% 320 284-11.3% All Bedroom Counts 48,857 48,659-0.4% 41,663 41,631-0.1% 7,194 7,028-2.3% Current as of November 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. 105 91 82 78 78 71 89 84 128 119 91 90 78 84 112 109 99 95 93 83-13.3% - 4.9% - 9.0% - 5.6% - 7.0% - 14.3% -6.7% -2.7% -4.0% - 10.8% Change Change Change 105 91-13.3% 110 95-13.6% 80 71-11.3% 82 78-4.9% 85 83-2.4% 70 61-12.9% 78 71-9.0% 79 72-8.9% 75 64-14.7% 89 84-5.6% 88 83-5.7% 97 91-6.2% 128 119-7.0% 124 118-4.8% 172 136-20.9% All Price Ranges 98 93-5.1% 99 95-4.0% 93 83-10.8% Change Change Change 91 78-14.3% 106 91-14.2% 80 68-15.0% 3 Bedrooms 90 84-6.7% 87 82-5.7% 105 97-7.6% 4 Bedrooms or 112 109-2.7% 112 109-2.7% 122 111-9.0% All Bedroom Counts 98 93-5.1% 99 95-4.0% 93 83-10.8% Current as of November 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. 66 49 34 30 30 23 41 36 68 64 45 36 40 34 58 56 50 45 35 30-25.8% - 11.8% - 23.3% - 12.2% - 5.9% - 20.0% - 15.0% - 3.4% - 10.0% - 14.3% Change Change Change 66 49-25.8% 71 53-25.4% 40 32-20.0% 34 30-11.8% 37 33-10.8% 23 19-17.4% 30 23-23.3% 31 24-22.6% 26 20-23.1% 41 36-12.2% 41 36-12.2% 38 33-13.2% 68 64-5.9% 68 64-5.9% 62 60-3.2% All Price Ranges 48 43-10.4% 50 45-10.0% 35 30-14.3% Change Change Change 45 36-20.0% 63 48-23.8% 32 27-15.6% 3 Bedrooms 40 34-15.0% 41 34-17.1% 36 32-11.1% 4 Bedrooms or 58 56-3.4% 58 56-3.4% 56 50-10.7% All Bedroom Counts 48 43-10.4% 50 45-10.0% 35 30-14.3% Current as of November 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. 74 86 80 72 69 60 54 55 38 33 34 26 47 41 51 46 41 39 39 35-25.7% - 13.2% - 23.5% - 12.8% - 7.0% - 19.6% - 15.2% - 4.2% - 10.0% - 10.3% Change Change Change 74 55-25.7% 80 59-26.3% 42 36-14.3% 38 33-13.2% 42 37-11.9% 26 20-23.1% 34 26-23.5% 35 27-22.9% 29 22-24.1% 47 41-12.8% 48 42-12.5% 44 39-11.4% 86 80-7.0% 86 81-5.8% 75 73-2.7% All Price Ranges 57 51-10.5% 60 54-10.0% 39 35-10.3% Change Change Change 51 41-19.6% 71 54-23.9% 35 31-11.4% 3 Bedrooms 46 39-15.2% 47 40-14.9% 42 38-9.5% 4 Bedrooms or 72 69-4.2% 72 69-4.2% 65 54-16.9% All Bedroom Counts 57 51-10.5% 60 54-10.0% 39 35-10.3% Current as of November 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. $133,500 $145,000 $180,000 $197,450 $316,000 $334,000 $220,000 $236,500 $231,000 $248,000 $173,390 $187,580 + 8.6% + 9.7% + 5.7% + 7.5% + 7.4% + 8.2% Change Change Change $133,500 $145,000 + 8.6% $99,950 $113,500 + 13.6% $149,500 $160,000 + 7.0% 3 Bedrooms $180,000 $197,450 + 9.7% $176,500 $194,000 + 9.9% $202,000 $220,000 + 8.9% 4 Bedrooms or $316,000 $334,000 + 5.7% $318,000 $335,000 + 5.3% $240,900 $260,000 + 7.9% All Bedroom Counts $220,000 $236,500 + 7.5% $231,000 $248,000 + 7.4% $173,390 $187,580 + 8.2% Current as of November 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. 97.9% 98.1% 97.7% 98.1% 97.6% 97.6% 96.6% 96.6% 97.3% 97.5% 98.0% 98.2% 96.7% 96.6% 91.1% 91.8% 95.5% 96.0% 96.6% 96.7% + 0.8% - 0.2% 0.0% 0.0% 0.0% + 0.5% + 0.2% - 0.1% + 0.1% + 0.2% Change Change Change 91.1% 91.8% + 0.8% 90.4% 91.1% + 0.8% 95.0% 95.3% + 0.3% 97.9% 97.7% - 0.2% 97.7% 97.4% - 0.3% 98.6% 98.5% - 0.1% 98.1% 98.1% 0.0% 98.0% 98.1% + 0.1% 98.4% 98.3% - 0.1% 97.6% 97.6% 0.0% 97.4% 97.4% 0.0% 98.3% 98.5% + 0.2% 96.6% 96.6% 0.0% 96.5% 96.5% 0.0% 98.3% 98.6% + 0.3% All Price Ranges 96.8% 97.0% + 0.2% 96.6% 96.7% + 0.1% 98.0% 98.2% + 0.2% Change Change Change 95.5% 96.0% + 0.5% 92.8% 93.8% + 1.1% 97.5% 97.7% + 0.2% 3 Bedrooms 97.3% 97.5% + 0.2% 97.1% 97.3% + 0.2% 98.7% 98.9% + 0.2% 4 Bedrooms or 96.7% 96.6% - 0.1% 96.7% 96.6% - 0.1% 97.7% 97.9% + 0.2% All Bedroom Counts 96.8% 97.0% + 0.2% 96.6% 96.7% + 0.1% 98.0% 98.2% + 0.2% Current as of November 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. 5,607 5,572 4,100 3,960 5,529 4,952 9,978 9,029 2,257 2,297 1,114 962 1,069 567 657 962 1,380 1,143 1,031 1,026-49.1% - 31.7% - 10.0% + 1.8% - 0.6% - 17.2% -3.4% - 10.4% - 9.5% - 0.5% Change Change Change 1,114 567-49.1% 998 525-47.4% 116 42-63.8% 962 657-31.7% 831 582-30.0% 131 75-42.7% 1,069 962-10.0% 913 803-12.0% 156 159 + 1.9% 2,257 2,297 + 1.8% 1,947 1,925-1.1% 310 372 + 20.0% 5,607 5,572-0.6% 5,289 5,194-1.8% 318 378 + 18.9% All Price Ranges 11,009 10,055-8.7% 9,978 9,029-9.5% 1,031 1,026-0.5% Change Change Change 1,380 1,143-17.2% 875 704-19.5% 505 439-13.1% 3 Bedrooms 4,100 3,960-3.4% 3,646 3,470-4.8% 454 490 + 7.9% 4 Bedrooms or 5,529 4,952-10.4% 5,457 4,855-11.0% 72 97 + 34.7% All Bedroom Counts 11,009 10,055-8.7% 9,978 9,029-9.5% 1,031 1,026-0.5% Current as of November 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. 2.9 1.9 1.5 1.3 1.4 1.3 2.1 2.0 4.7 4.2 2.5 2.1 2.1 2.0 3.5 3.2 2.9 2.6 1.7 1.8-34.5% - 13.3% - 7.1% - 4.8% - 10.6% - 16.0% -4.8% -8.6% - 10.3% + 5.9% Change Change Change 2.9 1.9-34.5% 3.1 2.0-35.5% 1.8 0.9-50.0% 1.5 1.3-13.3% 1.7 1.5-11.8% 0.9 0.6-33.3% 1.4 1.3-7.1% 1.5 1.3-13.3% 1.1 1.1 0.0% 2.1 2.0-4.8% 2.1 2.0-4.8% 1.9 2.1 + 10.5% 4.7 4.2-10.6% 4.7 4.2-10.6% 4.0 4.2 + 5.0% All Price Ranges 2.7 2.5-7.4% 2.9 2.6-10.3% 1.7 1.8 + 5.9% Change Change Change 2.5 2.1-16.0% 3.7 2.8-24.3% 1.6 1.4-12.5% 3 Bedrooms 2.1 2.0-4.8% 2.2 2.1-4.5% 1.7 1.9 + 11.8% 4 Bedrooms or 3.5 3.2-8.6% 3.5 3.2-8.6% 2.7 4.1 + 51.9% All Bedroom Counts 2.7 2.5-7.4% 2.9 2.6-10.3% 1.7 1.8 + 5.9% Current as of November 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 7,238 5,421 5,349 4,293 7,720 8,594 9,994 7,344 9,247 10,788 6,173 6,752 3,368 3,721 555 647 41,801 41,120 7,190 7,093 48,991 48,213-25.1% - 19.7% - 4.9% + 7.6% + 7.9% + 9.4% + 10.5% + 16.6% < $120K $120K to $150K $150K to $190K $190K to $250K $250K to $350K $350K to $500K $500K to $999K $1.0M + -1.6% - 1.3% - 1.6% All Properties Change Change 9-2018 10-2018 Change 9-2018 10-2018 Change Change Change $120,000 and 5,864 4,435-24.4% 1,374 986-28.2% 294 370 + 25.9% 63 70 + 11.1% 4,792 3,653-23.8% 1,120 783-30.1% $120,001 to 4,095 3,195-22.0% 1,254 1,098-12.4% 252 250-0.8% 88 74-15.9% 3,422 2,615-23.6% 1,065 894-16.1% $190,000 6,205 5,782-6.8% 1,515 1,562 + 3.1% 473 440-7.0% 116 101-12.9% 5,247 4,830-7.9% 1,310 1,303-0.5% $190,001 to $250,000 7,143 7,648 + 7.1% 1,451 1,599 + 10.2% 708 606-14.4% 137 105-23.4% 6,128 6,584 + 7.4% 1,245 1,393 + 11.9% $250,001 to $350,000 9,004 9,644 + 7.1% 990 1,144 + 15.6% 744 705-5.2% 97 85-12.4% 7,728 8,200 + 6.1% 882 972 + 10.2% $350,001 to $500,000 5,778 6,337 + 9.7% 395 415 + 5.1% 487 460-5.5% 40 36-10.0% 4,938 5,459 + 10.6% 356 353-0.8% $500,001 to $999,999 3,181 3,462 + 8.8% 187 259 + 38.5% 231 265 + 14.7% 12 14 + 16.7% 2,753 2,946 + 7.0% 164 220 + 34.1% $1M and 531 617 + 16.2% 24 30 + 25.0% 49 35-28.6% 0 1 -- 457 542 + 18.6% 15 20 + 33.3% All Price Ranges 41,801 41,120-1.6% 7,190 7,093-1.3% 3,238 3,131-3.3% 553 486-12.1% 35,465 34,829-1.8% 6,157 5,938-3.6% 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 1,417 767 659 855 1,224 457 715 1,303 2,353 2,422 2,216 2,187 1,761 1,674 524 530 9,978 9,029 1,031 1,026 11,009 10,055-45.9% - 30.7% - 16.4% + 6.5% + 2.9% - 1.3% - 4.9% + 1.1% < $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 9-2018 10-2018 Change 9-2018 10-2018 Change $120,000 and 1,253 705-43.7% 164 62-62.2% 848 705-16.9% 87 62-28.7% $120,001 to 576 402-30.2% 83 55-33.7% 438 402-8.2% 89 55-38.2% $190,000 728 596-18.1% 127 119-6.3% 674 596-11.6% 135 119-11.9% $190,001 to $250,000 1,005 1,079 + 7.4% 219 224 + 2.3% 1,182 1,079-8.7% 234 224-4.3% $250,001 to $350,000 2,159 2,155-0.2% 194 267 + 37.6% 2,290 2,155-5.9% 264 267 + 1.1% $350,001 to $500,000 2,088 2,041-2.3% 128 146 + 14.1% 2,076 2,041-1.7% 132 146 + 10.6% $500,001 to $999,999 1,654 1,557-5.9% 107 117 + 9.3% 1,683 1,557-7.5% 122 117-4.1% $1M and 515 494-4.1% 9 36 + 300.0% 524 494-5.7% 36 36 0.0% All Price Ranges 9,978 9,029-9.5% 1,031 1,026-0.5% 9,715 9,029-7.1% 1,099 1,026-6.6% - 9.5% - 0.5% - 8.7% 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 November 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 10