<\/a>Charlotte Regional Realtor\u00ae Association<\/p><\/div>\n
October’s inventory level represents a strong sellers market. Six months of inventory is considered a balanced market, while inventory below that level favors sellers.<\/p>\n
“The region continues to struggle with persistently low housing supply, which is having a direct effect on prices,” said the association President Maren Brisson-Kuester. “Unfortunately, until we’re able to see a substantial rise in inventory levels, buyers may be challenged with limited options as we close out the year and move into 2017.”<\/p>\n
New residential listings increased to 2.7% to 4,150 compared to year-ago numbers.<\/p>\n
In Mecklenurg County, the average sales price jumped nearly 5% to $273,345 from $260,739. The period from listing to sale close dropped 9.1% to 91 days from 100 days in October 2015.<\/p>\n
Housing inventory for the county dropped nearly 25% to 3,315 homes on the market or just 2 months of inventory. In the same year-ago period there were 4,415 homes and a 2.9 months supply.<\/p>\n
For the city of Charlotte, the average sales price of a home rose 4.4% to $266,358, while inventory dropped below 2 months to 1.8 months or just 2,369 homes on the market in October. That amounts to a drop of more than 35% in months of inventory.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Charlotte housing market saw much of the same trend in October as previous months – steady gains amid a continued low housing inventory. Across…<\/p>\n
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