CarolinaMLS year-over-year home sales in November increased 2.9 percent, with 3,485 properties sold compared to 3,388 properties sold in November 2016. Home sales were down 4.9 percent compared to October 2017.
The average sales price in November ($270,957) increased 4.8 percent compared to November 2016 ($258,619), while the median sales price ($223,375) increased 6.4 percent compared to November 2016 ($210,000). Prices rose slightly compared to October 2017, with average sales price increasing 1.2 percent and median sales price rising 0.2 percent.
The average list price in November 2017 ($301,690) increased 9.4 percent compared to November 2016 ($275,670), bringing the percent of original list price received measure to 96.5 percent, a slight increase of 0.3 percent compared to the same period last year. Pending sales counts rose 14.3 percent and totaled 3,487 during November 2017, compared to 3,050 pending sales last November.
“With challenges surrounding inventory all year, we’re pleased to see year-to-date figures showing regional home sales up nearly seven percent, an almost sure indication that 2017 year-end sales will finish ahead of 2016. And should new listing activity, which was up eight percent this past month, continue at the current pace, we’re optimistic that inventory across the region can be replenished,” said 2017 Association/CarolinaMLS President Roger Parham.
New residential listings (3,707) increased 8.3 percent in November 2017 compared to the same period last year. Inventory continued to fall, with the number of homes for sale down 18.1 percent compared to November 2016, which left the CarolinaMLS region with 9,024 properties for sale, or 2.3 months of supply of inventory, at report time. A year ago in November 2016 the region had 11,021 properties for sale, or 2.9 months of supply.
The average number of days a property was on the market from the time it was listed until it closed (list to close) was 96 days, which is eight days less time on market than November 2016. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 46 days, which is three days less time on market than last November 2016.
November 2017 showings across the Charlotte Metropolitan Statistical Area (MSA) totaled 50,907, a slight decrease of 0.1 percent compared to total showings in the MSA in November 2016. For all properties, showings per listing are up 10.9 percent compared to last November, with homes averaging six showings per listing in November 2017.