Early numbers for March are in, and 2019 sales are looking like a repeat of 2018. Home sales and pending sales are both tracking at the same pace from last year. Prices are showing small but healthy gains. Time on market is climbing ever so slightly, and interest rates are holding firm. The stats in March don’t reveal anything exciting or dramatic. Just the way a healthy and stable real estate market should be. Charlotte is still experiencing a sellers’ market with low inventory, but based on the rising prices and steady demand, this will likely be the next step that begins to move towards balance. With pending sales looking similar to last year, we can predict that next month’s sales will also be similar to last year.
This week we will release the home sales statistics for single family sales in Mecklenburg County comparing March to the previous month and the same month last year. Here’s a quick summary:
- Home sales are up 43% from last month and even with last year.
- Average sales price is up 6% from last month and 3% from last year.
- Median sales price is up 6% from last month and 1% from last year.
- Average price per square foot is up 8% from last month and 6% from last year.
- Average time on market is up 4% from last month and 14% from last year.
- Supply is up 6% from last month and 6% from last year.
- Mortgage rates at 4.27% are about even with last month and down slightly from last year.
- Average house payment is up 5% from last month and 1% from last year.