The Market – A Quarterly Report

    A Quarterly Report on Housing Activity and Price Levels in the Piedmont Area

     

    Entire Carolina MLS

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.
    Local Market Update (LMU)

     

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

    New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units.

    Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply.

    Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.

     

     

    2017 2nd Quarter Count Overview

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.
    Marketwatch Report (MWR)

     

     

    2017 2nd Quarter York Count, SC

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.
    Marketwatch Report (MWR)

     

     

    Area Median Sales Price

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.

     

     

    Historical Median Sales Price

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.

     

     

    Quick Facts:

    New Listings

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.
    Monthly Market Indicators (MMI)

     

     

    Pending Sales

    How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. New Listings were up in the Charlotte region 5.9 percent to 5,427. Pending Sales increased 16.1 percent to 4,724. Inventory shrank 19.8 percent to 10,174 units. Prices moved higher as Median Sales Price was up 9.8 percent to $236,000. Months Supply of Homes for Sale was down 25.7 percent to 2.6 months, indicating that demand increased relative to supply. Although the unemployment rate remains unchanged at its favorable national 4.4 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.
    Monthly Market Indicators (MMI)

    Trackback from your site.

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback