March market numbers are in, and we’ve taken a look at them for your Charlotte Market Report. Data in the report is based on the most recent information in the Regional Multiple Listing Service. Questions? Reach out to our staff at the Charlotte branch, 704-745-2011.
Median Sales Price
The median sales price of homes continues to rise across markets throughout the country, and Charlotte is no exception. Charlotte’s median sales prices are showing a steady upward climb. According to recent real estate data, the median sales price for Charlotte homes in March 2018 was $235,000, a 7.1% increase over March 2017.
Reflecting other regions nationally, Charlotte is experiencing a strong seller’s market, with March numbers showing a decrease in active listings over March 2017. Active listings include single family homes, condominiums, and townhomes. With this decrease in active listings, there is an estimated 2.0 month supply as of March 2018, compared to a 2.7 month supply in March 2017. Days on market has also decreased from March 2017 by -9.0%, from 67 days in March 2017 to 61 days presently. Sales are moving faster in most markets nationally, and Charlotte is no exception.
U.S. foreclosure activity as of March 2018 was .06%, indicating a slight increase since the end of December 2017. Charlotte’s current foreclosure filing number is .09%, higher than the national average, and higher than the state’s average. Interestingly, Mecklenburg County and the state of North Carolina’s foreclosure rate overall are both lower than Charlotte. According to RealtyTrac, there are approximately 1,469 properties in some stage of foreclosure, with foreclosed homes being sold with at a 28.8% foreclosure discount.
We specialize in the marketing and liquidation of REO assets, and we are ready for one or a list of yours. We have local experts on our team to move tasks through the process efficiently and on-time. Let’s talk today!