Months of supply are beginning to rise as unaffordable-to-most listings begin to enter the market with more regularity. Sales have actually been steady in higher price ranges, while first-time buyer markets are extremely competitive. For the 12-month period spanning May 2018 through April 2019, Pending Sales in the Charlotte region were down 0.4 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 9.0 percent.
The overall Median Sales Price was up 4.8 percent to $240,000. The property type with the largest price gain was the Condo-Townhome segment, where prices increased 8.9 percent to $195,894. The price range that tended to sell the quickest was the $150,001 to $200,000 range at 25 days; the price range that tended to sell the slowest was the $300,001 and Above range at 63 days.
Market-wide, inventory levels were down 8.7 percent. The property type that gained the most inventory was the Condo-Townhome segment, where it increased 10.2 percent. That amounts to 2.3 months supply for Single-Family homes and 1.7 months supply for Condos-Townhomes.
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