Summer is here, and the Real Estate market matches the temperature outside! It looks like the Seller’s market is showing no signs of cooling off! Have we sparked your interest? Check out the video blog below for Scott’s market update. For a quick summary of the market stats for Mecklenburg County single family home sales in May, compared to the previous month and the same month last year – here’s a snapshot!
- Home sales are up almost 16% from April, 2017 and 11% from May 2016
- Average sales price is up about 1% from April but jumped up 9% from May 2016
- Median sales price is up 1% from last month, but 7% from last year
- Average price per square foot is up just over 1% from April 2017, but up 9% from May 2016
- Time on market is down 17% from last month and down 22% from last year
- Pending sales are up 1% from April 2017, but down 1% from last year
- Supply is up 4% from last month but down almost 10% from last year
- Mortgage rates are even from April 2017, but up to 4.01% from 3.60% from last year
- Monthly house payment is even with last month, but up 14% from May 2016
There has been a steady growth in activity in the spring and early summer months, and while supply seems to be growing a little the Charlotte area is still very much a sellers market!