This month we’ve mixed in a fun new feature to our market stats update.  Watch Scott & Maria talk about the top three reasons you shouldn’t buy our new listing in the South Hill complex in Southpark, followed by a market update.  (Hint…there might be a little reverse psychology in play here.)  For a quick summary of the market stats for Mecklenburg County single family home sales in January compared to the previous month and the same month last year, here’s a snapshot:

• Home sales are down 30% from last month, but up 19% from last year.
• Average sales price is up 5% from last month and 14% from last year.
• Median home price is even from last month, but up 16% from last year.
• Average price per square foot is up 4% from last month and 13% from last year.
• Time on market is down 6% from last month and 23% from last year.
• Pending home sales are up 14% from last month, but even from last year.
• Housing supply is up 14% from last month, but down 8% from last year.
• Mortgage rates are down slightly from last month, but up to 4.15% from 3.87% last year.
• Average house payment is up 5% from last month and up 18% from last year.

Low inventory still defines the local market.  It is a great time to be a seller as demand is outpacing supply and prices are climbing.  Its going to be another busy spring market!