It is hard to believe that the 2016 holiday season starts next week.  Our W team is truly thankful for all the wonderful opportunities we’ve had to serve our clients this year and for the healthy real estate market we’ve experienced.  Over the past  thirteen years in business, we’ve seen lots of ups and downs and I’m sure that cycle will continue for the years to come.  But one thing remains steady and that is our appreciation for our clients and the fulfillment that we’ve received through the strong and trusted relationships that we’ve been fortunate to grow.

This fall, the numbers for Mecklenburg County real estate show strength and a very healthy market.  Home sales and prices are up nicely over last year but not at a pace that seems unsustainable.  Pending home sales are slightly up over last year which indicates that the end of the year should finish strong just as 2015 did.  Days on market is starting to creep up slightly from the past few months which is normal for this time of year but, overall, still down from the previous year as well.  Low housing supply continues to define the market as we’ve been in “seller’s market” territory for over two years now.  However, rising prices will ultimately provide incentive for more homeowners to sell which will eventually increase inventory.  And the cycle continues….

Each month we post the market stats for single family homes in Mecklenburg County.  Here is a sneak peak at the results from October when comparing to both the prior month and the same month last year:

• Home sales are down 17% from last month but up 4% from last year.
• Average sales price is down 1% from last month but up 4% from last year.
• Median sales price is up 2% from last month and up 14% from last year.
• Average price per square foot is even with last month and down 2% from last year.
• Average time on market is up 7% from last month but down 17% from last year.
• Pending home sales are down 2% from last month, but up 1% from last year.
• Housing supply is down 3% from last month and 10% from last year.
• Interest rates are up slightly from last month, but still down from last year.
• Average house payment is even with both last month and last year.

A huge thank you to all of our clients for a fabulous year.  Happy Thanksgiving!