Charlotte Region Housing Supply Overview

Charlotte Region Housing Supply Overview January 2019 Inventory is gradually starting to improve in many pockets across the country, including in several markets that are showing year-over-year percentage increases. Listings tend to improve immediately after a new year, but this national increase also has to do with fewer sales. For the 12-month period spanning February 2018 through January 2019, Pending Sales in the Charlotte region were down 1.7 percent overall. The price range with the largest gain in sales was the range, where they increased 9.6 percent. The overall Median Sales Price was up 6.0 percent to $238,500. The property type with the largest price gain was the segment, where prices increased 9.5 percent to $192,770. The price range that tended to sell the quickest was the range at 24 days; the price range that tended to sell the slowest was the range at 63 days. Quick Facts + 9.6% - 0.1% - 1.0% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: 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. composed 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. Market-wide, inventory levels were down 3.4 percent. The property type that gained the most inventory was the segment, where it increased 13.8 percent. That amounts to 2.3 months supply for homes and 1.6 months supply for Condos-Townhomes. 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 2 3 4 5 6 7 8 9 10 Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 ShowingTime. 1

Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 13,343 14,234 14,816 16,234 23,713 23,318 18,981 18,526 41,952 41,530 4,510 3,386 7,310 5,740 9,303 8,832 6,588 6,582 7,330 6,896-24.9% - 21.5% - 5.1% + 6.7% + 9.6% -0.1% -1.7% -2.4% -1.0% -5.9% All Properties Change Change Change 4,510 3,386-24.9% 3,740 2,907-22.3% 770 479-37.8% 7,310 5,740-21.5% 5,570 4,348-21.9% 1,740 1,392-20.0% 9,303 8,832-5.1% 7,485 7,071-5.5% 1,818 1,761-3.1% 13,343 14,234 + 6.7% 11,343 12,038 + 6.1% 2,000 2,196 + 9.8% 14,816 16,234 + 9.6% 13,814 15,166 + 9.8% 1,002 1,068 + 6.6% All Price Ranges 49,282 48,426-1.7% 41,952 41,530-1.0% 7,330 6,896-5.9% Change Change Change 6,588 6,582-0.1% 2,842 3,039 + 6.9% 3,746 3,543-5.4% 3 Bedrooms 23,713 23,318-1.7% 20,466 20,234-1.1% 3,247 3,084-5.0% 4 Bedrooms or 18,981 18,526-2.4% 18,644 18,257-2.1% 337 269-20.2% All Bedroom Counts 49,282 48,426-1.7% 41,952 41,530-1.0% 7,330 6,896-5.9% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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. 102 90 81 76 74 72 88 84 126 119 89 87 77 84 111 109 98 94 89 83-11.8% - 6.2% - 2.7% - 4.5% - 5.6% - 13.5% -3.4% -1.8% -4.1% -6.7% All Properties Change Change Change 102 90-11.8% 108 93-13.9% 77 69-10.4% 81 76-6.2% 85 81-4.7% 67 60-10.4% 74 72-2.7% 75 74-1.3% 69 63-8.7% 88 84-4.5% 86 83-3.5% 95 93-2.1% 126 119-5.6% 123 118-4.1% 166 134-19.3% All Price Ranges 97 93-4.1% 98 94-4.1% 89 83-6.7% Change Change Change 89 77-13.5% 106 88-17.0% 76 69-9.2% 3 Bedrooms 87 84-3.4% 85 82-3.5% 102 96-5.9% 4 Bedrooms or 111 109-1.8% 111 109-1.8% 112 115 + 2.7% All Bedroom Counts 97 93-4.1% 98 94-4.1% 89 83-6.7% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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. 65 47 34 28 28 24 40 35 67 63 45 39 35 34 58 55 49 44 34 31-27.7% - 17.6% - 14.3% - 12.5% - 6.0% - 22.2% - 12.8% - 5.2% - 10.2% - 8.8% All Properties Change Change Change 65 47-27.7% 70 50-28.6% 39 29-25.6% 34 28-17.6% 37 31-16.2% 22 18-18.2% 28 24-14.3% 28 24-14.3% 24 21-12.5% 40 35-12.5% 40 35-12.5% 37 35-5.4% 67 63-6.0% 67 64-4.5% 63 56-11.1% All Price Ranges 47 42-10.6% 49 44-10.2% 34 31-8.8% Change Change Change 45 35-22.2% 63 45-28.6% 31 28-9.7% 3 Bedrooms 39 34-12.8% 39 34-12.8% 36 32-11.1% 4 Bedrooms or 58 55-5.2% 58 55-5.2% 52 52 0.0% All Bedroom Counts 47 42-10.6% 49 44-10.2% 34 31-8.8% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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. 72 85 79 71 68 59 53 52 37 30 31 26 46 40 50 45 40 39 39 35-27.8% - 18.9% - 16.1% - 13.0% - 7.1% - 20.0% - 13.3% - 4.2% - 10.2% - 10.3% All Properties Change Change Change 72 52-27.8% 79 56-29.1% 42 33-21.4% 37 30-18.9% 41 34-17.1% 24 19-20.8% 31 26-16.1% 32 27-15.6% 27 23-14.8% 46 40-13.0% 46 41-10.9% 43 40-7.0% 85 79-7.1% 86 80-7.0% 77 68-11.7% All Price Ranges 56 50-10.7% 59 53-10.2% 39 35-10.3% Change Change Change 50 40-20.0% 71 50-29.6% 34 32-5.9% 3 Bedrooms 45 39-13.3% 45 39-13.3% 42 37-11.9% 4 Bedrooms or 71 68-4.2% 71 68-4.2% 62 55-11.3% All Bedroom Counts 56 50-10.7% 59 53-10.2% 39 35-10.3% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 ShowingTime. 5

Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $135,000 $147,000 $183,000 $320,000 $335,000 $225,000 $238,500 $235,000 $249,900 $176,000 $192,770 + 8.9% + 9.3% + 4.7% + 6.0% + 6.3% + 9.5% All Properties All Properties Change Change Change $135,000 $147,000 + 8.9% $100,000 $116,500 + 16.5% $151,000 $163,000 + 7.9% 3 Bedrooms $183,000 + 9.3% $180,000 $198,000 + 10.0% $205,000 $223,498 + 9.0% 4 Bedrooms or $320,000 $335,000 + 4.7% $320,663 $335,206 + 4.5% $244,005 $259,818 + 6.5% All Bedroom Counts $225,000 $238,500 + 6.0% $235,000 $249,900 + 6.3% $176,000 $192,770 + 9.5% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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% 98.2% 97.5% 98.0% 97.6% 97.5% 96.7% 96.5% 97.4% 97.4% 98.1% 98.2% 96.7% 96.5% 91.2% 91.5% 95.6% 95.8% 96.7% 96.6% + 0.3% - 0.4% - 0.2% - 0.1% - 0.2% + 0.2% 0.0% - 0.2% - 0.1% + 0.1% All Properties Change Change Change 91.2% 91.5% + 0.3% 90.4% 90.9% + 0.6% 95.1% 95.3% + 0.2% 97.9% 97.5% - 0.4% 97.7% 97.3% - 0.4% 98.7% 98.3% - 0.4% 98.2% 98.0% - 0.2% 98.2% 98.0% - 0.2% 98.4% 98.2% - 0.2% 97.6% 97.5% - 0.1% 97.5% 97.3% - 0.2% 98.3% 98.5% + 0.2% 96.7% 96.5% - 0.2% 96.5% 96.4% - 0.1% 98.3% 98.7% + 0.4% All Price Ranges 96.9% 96.9% 0.0% 96.7% 96.6% - 0.1% 98.1% 98.2% + 0.1% Change Change Change 95.6% 95.8% + 0.2% 92.8% 93.6% + 0.9% 97.6% 97.7% + 0.1% 3 Bedrooms 97.4% 97.4% 0.0% 97.2% 97.2% 0.0% 98.7% 98.8% + 0.1% 4 Bedrooms or 96.7% 96.5% - 0.2% 96.7% 96.5% - 0.2% 97.9% 97.9% 0.0% All Bedroom Counts 96.9% 96.9% 0.0% 96.7% 96.6% - 0.1% 98.1% 98.2% + 0.1% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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. 4,633 4,766 3,455 3,554 4,414 4,139 8,206 7,789 932 741 860 498 531 847 1,861 2,081 1,158 1,030 821 934-46.6% - 28.3% - 1.5% + 11.8% + 2.9% - 11.1% + 2.9% -6.2% - 5.1% + 13.8% All Properties Change Change Change 932 498-46.6% 850 463-45.5% 82 35-57.3% 741 531-28.3% 634 481-24.1% 107 50-53.3% 860 847-1.5% 770 688-10.6% 90 159 + 76.7% 1,861 2,081 + 11.8% 1,578 1,742 + 10.4% 283 339 + 19.8% 4,633 4,766 + 2.9% 4,374 4,415 + 0.9% 259 351 + 35.5% All Price Ranges 9,027 8,723-3.4% 8,206 7,789-5.1% 821 934 + 13.8% Change Change Change 1,158 1,030-11.1% 756 636-15.9% 402 394-2.0% 3 Bedrooms 3,455 3,554 + 2.9% 3,091 3,106 + 0.5% 364 448 + 23.1% 4 Bedrooms or 4,414 4,139-6.2% 4,359 4,047-7.2% 55 92 + 67.3% All Bedroom Counts 9,027 8,723-3.4% 8,206 7,789-5.1% 821 934 + 13.8% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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. 3.8 3.5 2.8 2.7 2.3 2.3 2.5 1.8 1.7 1.8 2.1 1.9 1.7 1.8 1.3 1.6 1.2 1.1 1.1 1.2-28.0% - 8.3% + 9.1% + 5.9% - 7.9% -9.5% + 5.9% -3.6% 0.0% + 23.1% All Properties Change Change Change 2.5 1.8-28.0% 2.7 1.9-29.6% 1.3 0.9-30.8% 1.2 1.1-8.3% 1.4 1.3-7.1% 0.7 0.4-42.9% 1.1 1.2 + 9.1% 1.2 1.2 0.0% 0.6 1.1 + 83.3% 1.7 1.8 + 5.9% 1.7 1.7 0.0% 1.7 1.9 + 11.8% 3.8 3.5-7.9% 3.8 3.5-7.9% 3.1 3.9 + 25.8% All Price Ranges 2.2 2.2 0.0% 2.3 2.3 0.0% 1.3 1.6 + 23.1% Change Change Change 2.1 1.9-9.5% 3.2 2.5-21.9% 1.3 1.3 0.0% 3 Bedrooms 1.7 1.8 + 5.9% 1.8 1.8 0.0% 1.3 1.7 + 30.8% 4 Bedrooms or 2.8 2.7-3.6% 2.8 2.7-3.6% 2.0 4.1 + 105.0% All Bedroom Counts 2.2 2.2 0.0% 2.3 2.3 0.0% 1.3 1.6 + 23.1% Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 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 6,842 5,075 5,216 4,063 7,793 8,701 9,490 10,262 10,877 7,125 6,289 6,756 3,477 3,671 553 652 41,801 40,845 7,332 6,864 49,133 47,709-25.8% - 22.1% - 8.6% + 9.1% + 6.0% + 7.4% + 5.6% + 17.9% < $120K $120K to $150K $150K to $190K $190K to $250K $250K to $350K $350K to $500K $500K to $999K $1.0M + -2.3% - 6.4% - 2.9% All Properties Change Change 12-2018 1-2019 Change 12-2018 1-2019 Change Change Change $120,000 and 5,520 4,204-23.8% 1,322 871-34.1% 296 261-11.8% 54 47-13.0% 352 261-25.9% 82 47-42.7% $120,001 to 3,968 3,023-23.8% 1,248 1,040-16.7% 216 175-19.0% 68 62-8.8% 227 175-22.9% 62 62 0.0% $190,000 6,210 5,645-9.1% 1,583 1,480-6.5% 401 303-24.4% 91 67-26.4% 363 303-16.5% 103 67-35.0% $190,001 to $250,000 7,229 7,889 + 9.1% 1,472 1,601 + 8.8% 588 468-20.4% 105 82-21.9% 388 468 + 20.6% 99 82-17.2% $250,001 to $350,000 9,212 9,676 + 5.0% 1,050 1,201 + 14.4% 696 491-29.5% 100 69-31.0% 477 491 + 2.9% 50 69 + 38.0% $350,001 to $500,000 5,866 6,361 + 8.4% 423 395-6.6% 399 296-25.8% 27 16-40.7% 314 296-5.7% 26 16-38.5% $500,001 to $999,999 3,269 3,418 + 4.6% 208 253 + 21.6% 231 128-44.6% 24 13-45.8% 166 128-22.9% 22 13-40.9% $1M and 527 629 + 19.4% 26 23-11.5% 36 31-13.9% 1 1 0.0% 26 31 + 19.2% 2 1-50.0% All Price Ranges 41,801 40,845-2.3% 7,332 6,864-6.4% 2,863 2,153-24.8% 470 357-24.0% 2,313 2,153-6.9% 446 357-20.0% 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 1,163 655 510 639 1,088 374 656 1,122 1,916 2,227 1,855 1,836 1,417 1,365-43.7% - 26.7% + 2.7% + 3.1% + 16.2% - 1.0% - 3.7% + 11.2% < $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 12-2018 1-2019 Change 12-2018 1-2019 Change $120,000 and 1,037 611-41.1% 126 44-65.1% 676 611-9.6% 50 44-12.0% $120,001 to 447 333-25.5% 63 41-34.9% 402 333-17.2% 48 41-14.6% $190,000 580 534-7.9% 59 122 + 106.8% 612 534-12.7% 131 122-6.9% $190,001 to $250,000 884 925 + 4.6% 204 197-3.4% 1,070 925-13.6% 206 197-4.4% $250,001 to $350,000 1,750 1,968 + 12.5% 166 259 + 56.0% 2,056 1,968-4.3% 280 259-7.5% $350,001 to $500,000 1,757 1,701-3.2% 98 135 + 37.8% 1,710 1,701-0.5% 148 135-8.8% $500,001 to $999,999 1,324 1,267-4.3% 93 98 + 5.4% 1,294 1,267-2.1% 111 98-11.7% $1M and 427 450 + 5.4% 12 38 + 216.7% 417 450 + 7.9% 33 38 + 15.2% All Price Ranges 8,206 7,789-5.1% 821 934 + 13.8% 8,237 7,789-5.4% 1,007 934-7.2% 439 488 8,206 7,789 821 934 9,027 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. 8,723-5.1% + 13.8% - 3.4% Singe-Family All Properties Current as of February 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2019 ShowingTime. 10