Charlotte Region Housing Supply Overview April 2018 Although housing supply is low and will likely remain low for the duration of 2018, there are signs of improvement for new listings. Sellers are beginning to come out of hibernation while new build projects are taking shape with more regularity. For the 12-month period spanning May 2017 through April 2018, Pending Sales in the Charlotte region were up 4.3 percent overall. The price range with the largest gain in sales was the range, where they increased 15.0 percent. The overall Median Sales Price was up 9.0 percent to $229,000. The property type with the largest price gain was the segment, where prices increased 8.8 percent to $179,500. The price range that tended to sell the quickest was the range at 25 days; the price range that tended to sell the slowest was the range at 67 days. Quick Facts + 15.0% + 4.7% + 8.5% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: 4 Bedrooms or 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. Market-wide, inventory levels were down 22.6 percent. The property type that lost the least inventory was the segment, where it decreased 22.4 percent. That amounts to 2.2 months supply for homes and 1.2 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 May 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. 7,991 6,901 8,952 9,331 11,946 13,734 13,539 15,471 22,847 23,907 18,292 19,143 40,733 42,217 5,191 4,249 6,480 6,636 6,886 7,469-18.1% - 13.6% + 4.2% + 15.0% + 14.3% + 2.4% + 4.6% + 4.7% + 3.6% + 8.5% Change Change Change 5,191 4,249-18.1% 4,337 3,517-18.9% 854 732-14.3% 7,991 6,901-13.6% 6,124 5,239-14.5% 1,867 1,662-11.0% 8,952 9,331 + 4.2% 7,276 7,450 + 2.4% 1,676 1,881 + 12.2% 11,946 13,734 + 15.0% 10,269 11,619 + 13.1% 1,677 2,115 + 26.1% 13,539 15,471 + 14.3% 12,727 14,392 + 13.1% 812 1,079 + 32.9% All Price Ranges 47,619 49,686 + 4.3% 40,733 42,217 + 3.6% 6,886 7,469 + 8.5% Change Change Change 6,480 6,636 + 2.4% 2,858 2,838-0.7% 3,622 3,798 + 4.9% 3 Bedrooms 22,847 23,907 + 4.6% 19,852 20,569 + 3.6% 2,995 3,338 + 11.5% 4 Bedrooms or 18,292 19,143 + 4.7% 18,023 18,810 + 4.4% 269 333 + 23.8% All Bedroom Counts 47,619 49,686 + 4.3% 40,733 42,217 + 3.6% 6,886 7,469 + 8.5% Current as of May 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. 114 99 89 86 80 72 96 87 129 125 96 96 85 86 116 111 106 97 94 86-13.2% - 10.1% - 16.3% - 9.4% - 3.1% - 11.5% - 10.4% -4.3% -8.5% -8.5% Change Change Change 114 99-13.2% 119 103-13.4% 89 76-14.6% 89 80-10.1% 93 85-8.6% 77 64-16.9% 86 72-16.3% 86 74-14.0% 85 65-23.5% 96 87-9.4% 95 86-9.5% 102 93-8.8% 129 125-3.1% 127 122-3.9% 149 158 + 6.0% All Price Ranges 104 95-8.7% 106 97-8.5% 94 86-8.5% Change Change Change 96 85-11.5% 111 103-7.2% 85 73-14.1% 3 Bedrooms 96 86-10.4% 95 84-11.6% 103 98-4.9% 4 Bedrooms or 116 111-4.3% 116 111-4.3% 120 114-5.0% All Bedroom Counts 104 95-8.7% 106 97-8.5% 94 86-8.5% Current as of May 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. 72 60 39 32 36 25 47 38 70 67 51 42 46 37 61 58 55 48 39 32-16.7% - 17.9% - 30.6% - 19.1% - 4.3% - 17.6% - 19.6% - 4.9% - 12.7% - 17.9% Change Change Change 72 60-16.7% 77 65-15.6% 48 37-22.9% 39 32-17.9% 42 36-14.3% 29 19-34.5% 36 25-30.6% 37 26-29.7% 31 22-29.0% 47 38-19.1% 47 39-17.0% 43 36-16.3% 70 67-4.3% 70 68-2.9% 63 62-1.6% All Price Ranges 53 46-13.2% 55 48-12.7% 39 32-17.9% Change Change Change 51 42-17.6% 67 60-10.4% 39 29-25.6% 3 Bedrooms 46 37-19.6% 47 37-21.3% 37 34-8.1% 4 Bedrooms or 61 58-4.9% 62 58-6.5% 59 52-11.9% All Bedroom Counts 53 46-13.2% 55 48-12.7% 39 32-17.9% Current as of May 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. 81 87 85 74 71 65 58 68 44 36 40 28 54 44 58 48 53 43 44 37-16.0% - 18.2% - 30.0% - 18.5% - 2.3% - 17.2% - 18.9% - 4.1% - 10.8% - 15.9% Change Change Change 81 68-16.0% 87 73-16.1% 52 40-23.1% 44 36-18.2% 48 40-16.7% 31 21-32.3% 40 28-30.0% 41 30-26.8% 36 24-33.3% 54 44-18.5% 55 45-18.2% 50 42-16.0% 87 85-2.3% 87 86-1.1% 77 76-1.3% All Price Ranges 62 54-12.9% 65 58-10.8% 44 37-15.9% Change Change Change 58 48-17.2% 76 69-9.2% 44 32-27.3% 3 Bedrooms 53 43-18.9% 54 43-20.4% 44 40-9.1% 4 Bedrooms or 74 71-4.1% 75 72-4.0% 64 60-6.3% All Bedroom Counts 62 54-12.9% 65 58-10.8% 44 37-15.9% Current as of May 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. $128,500 $138,000 $170,000 $186,500 $310,000 $322,500 $210,000 $229,000 $222,385 $240,000 $165,000 $179,500 + 7.4% + 9.7% + 4.0% + 9.0% + 7.9% + 8.8% Change Change Change $128,500 $138,000 + 7.4% $95,900 $105,000 + 9.5% $143,000 $154,450 + 8.0% 3 Bedrooms $170,000 $186,500 + 9.7% $168,000 $184,400 + 9.8% $192,750 $210,000 + 8.9% 4 Bedrooms or $310,000 $322,500 + 4.0% $311,100 $324,500 + 4.3% $243,128 $244,616 + 0.6% All Bedroom Counts $210,000 $229,000 + 9.0% $222,385 $240,000 + 7.9% $165,000 $179,500 + 8.8% Current as of May 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% 97.4% 97.7% 98.2% 97.3% 97.6% 96.5% 96.6% 96.7% 97.5% 96.6% 96.7% 97.5% 98.2% 91.1% 91.6% 95.2% 95.8% 96.3% 96.7% + 0.5% + 0.5% + 0.5% + 0.3% + 0.1% + 0.6% + 0.8% + 0.1% + 0.4% + 0.7% Change Change Change 91.1% 91.6% + 0.5% 90.4% 90.8% + 0.4% 94.6% 95.7% + 1.2% 97.4% 97.9% + 0.5% 97.3% 97.6% + 0.3% 98.0% 98.8% + 0.8% 97.7% 98.2% + 0.5% 97.6% 98.2% + 0.6% 98.0% 98.4% + 0.4% 97.3% 97.6% + 0.3% 97.2% 97.5% + 0.3% 98.1% 98.3% + 0.2% 96.5% 96.6% + 0.1% 96.4% 96.5% + 0.1% 97.7% 98.4% + 0.7% All Price Ranges 96.5% 97.0% + 0.5% 96.3% 96.7% + 0.4% 97.5% 98.2% + 0.7% Change Change Change 95.2% 95.8% + 0.6% 92.8% 93.2% + 0.4% 97.0% 97.8% + 0.8% 3 Bedrooms 96.7% 97.5% + 0.8% 96.5% 97.3% + 0.8% 98.2% 98.7% + 0.5% 4 Bedrooms or 96.6% 96.7% + 0.1% 96.6% 96.7% + 0.1% 96.8% 98.1% + 1.3% All Bedroom Counts 96.5% 97.0% + 0.5% 96.3% 96.7% + 0.4% 97.5% 98.2% + 0.7% Current as of May 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. 5,623 5,138 4,074 5,634 4,580 10,037 7,786 2,990 1,258 931 583 468 1,090 656 2,106 1,670 1,300 945 971 729-53.7% - 49.7% - 39.8% - 20.7% - 8.6% - 27.3% - 26.6% - 18.7% - 22.4% - 24.9% Change Change Change 1,258 583-53.7% 1,140 555-51.3% 118 28-76.3% 931 468-49.7% 801 416-48.1% 130 52-60.0% 1,090 656-39.8% 938 555-40.8% 152 101-33.6% 2,106 1,670-20.7% 1,816 1,397-23.1% 290 273-5.9% 5,623 5,138-8.6% 5,342 4,863-9.0% 281 275-2.1% All Price Ranges 11,008 8,515-22.6% 10,037 7,786-22.4% 971 729-24.9% Change Change Change 1,300 945-27.3% 857 631-26.4% 443 314-29.1% 3 Bedrooms 4,074 2,990-26.6% 3,630 2,637-27.4% 444 353-20.5% 4 Bedrooms or 5,634 4,580-18.7% 5,550 4,518-18.6% 84 62-26.2% All Bedroom Counts 11,008 8,515-22.6% 10,037 7,786-22.4% 971 729-24.9% Current as of May 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. 5.0 3.7 3.0 2.9 1.6 1.4 1.5 0.8 0.8 2.1 1.5 4.0 2.4 1.7 2.1 1.5 2.9 2.2 1.7 1.2-44.8% - 42.9% - 46.7% - 28.6% - 20.0% - 29.2% - 28.6% - 21.6% - 26.7% - 29.4% Change Change Change 2.9 1.6-44.8% 3.2 1.9-40.6% 1.7 0.5-70.6% 1.4 0.8-42.9% 1.6 1.0-37.5% 0.8 0.4-50.0% 1.5 0.8-46.7% 1.5 0.9-40.0% 1.1 0.6-45.5% 2.1 1.5-28.6% 2.1 1.4-33.3% 2.1 1.5-28.6% 5.0 4.0-20.0% 5.0 4.1-18.0% 4.2 3.1-26.2% All Price Ranges 2.8 2.1-25.0% 3.0 2.2-26.7% 1.7 1.2-29.4% Change Change Change 2.4 1.7-29.2% 3.6 2.7-25.0% 1.5 1.0-33.3% 3 Bedrooms 2.1 1.5-28.6% 2.2 1.5-31.8% 1.8 1.3-27.8% 4 Bedrooms or 3.7 2.9-21.6% 3.7 2.9-21.6% 3.7 2.2-40.5% All Bedroom Counts 2.8 2.1-25.0% 3.0 2.2-26.7% 1.7 1.2-29.4% Current as of May 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 7,956 6,367 5,617 4,992 7,511 7,717 8,028 8,764 9,027 10,548 5,634 6,431 3,242 3,521 541 569 40,620 41,620 6,936 7,289 47,556 48,909-20.0% - 11.1% + 2.7% + 9.2% + 16.8% + 14.1% + 8.6% + 5.2% < $120K $120K to $150K $150K to $190K $190K to $250K $250K to $350K $350K to $500K $500K to $999K $1.0M + + 2.5% + 5.1% + 2.8% All Properties Change Change 3-2018 4-2018 Change 3-2018 4-2018 Change Change Change $120,000 and 6,380 5,156-19.2% 1,576 1,211-23.2% 387 381-1.6% 80 78-2.5% 1,878 1,460-22.3% 438 327-25.3% $120,001 to 4,371 3,754-14.1% 1,246 1,238-0.6% 250 283 + 13.2% 90 111 + 23.3% 1,214 966-20.4% 363 332-8.5% $190,000 6,082 6,114 + 0.5% 1,429 1,603 + 12.2% 458 476 + 3.9% 138 131-5.1% 1,738 1,654-4.8% 439 473 + 7.7% $190,001 to $250,000 6,659 7,270 + 9.2% 1,369 1,494 + 9.1% 611 585-4.3% 177 118-33.3% 1,915 1,994 + 4.1% 440 483 + 9.8% $250,001 to $350,000 8,214 9,468 + 15.3% 813 1,080 + 32.8% 798 803 + 0.6% 97 99 + 2.1% 2,386 2,684 + 12.5% 292 319 + 9.2% $350,001 to $500,000 5,327 6,010 + 12.8% 307 421 + 37.1% 511 545 + 6.7% 50 32-36.0% 1,510 1,708 + 13.1% 124 128 + 3.2% $500,001 to $999,999 3,071 3,302 + 7.5% 171 219 + 28.1% 262 293 + 11.8% 23 24 + 4.3% 856 890 + 4.0% 72 88 + 22.2% $1M and 516 546 + 5.8% 25 23-8.0% 52 66 + 26.9% 0 3 -- 159 172 + 8.2% 8 6-25.0% All Price Ranges 40,620 41,620 + 2.5% 6,936 7,289 + 5.1% 3,329 3,432 + 3.1% 655 596-9.0% 11,656 11,528-1.1% 2,176 2,156-0.9% 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 1,567 724 622 873 1,123 327 488 897 2,240 1,871 2,189 1,954 1,823 1,690-53.8% - 47.4% - 44.1% - 20.1% - 16.5% - 10.7% - 7.3% -1.2% < $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 3-2018 4-2018 Change 3-2018 4-2018 Change $120,000 and 1,408 673-52.2% 159 51-67.9% 742 673-9.3% 64 51-20.3% $120,001 to 533 298-44.1% 89 29-67.4% 327 298-8.9% 42 29-31.0% $190,000 754 410-45.6% 119 78-34.5% 447 410-8.3% 82 78-4.9% $190,001 to $250,000 910 726-20.2% 213 171-19.7% 777 726-6.6% 175 171-2.3% $250,001 to $350,000 2,071 1,666-19.6% 169 205 + 21.3% 1,613 1,666 + 3.3% 188 205 + 9.0% $350,001 to $500,000 2,071 1,869-9.8% 118 85-28.0% 1,841 1,869 + 1.5% 98 85-13.3% $500,001 to $999,999 1,731 1,603-7.4% 92 87-5.4% 1,501 1,603 + 6.8% 99 87-12.1% $1M and 559 541-3.2% 12 23 + 91.7% 495 541 + 9.3% 19 23 + 21.1% All Price Ranges 10,037 7,786-22.4% 971 729-24.9% 7,743 7,786 + 0.6% 767 729-5.0% 571 564 10,037 7,786 971 729 11,008 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. 8,515-22.4% - 24.9% - 22.6% Singe-Family All Properties Current as of May 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor Association. Report 2018 ShowingTime. 10