Charlotte, Matthews & Huntersville, NC Area Home Sales Slow for June 2017

​Despite the continued surge of relocations to the Charlotte, NC area, home sales growth has slowed down. In light of strong job creation and healthy overall economic trends for a region that includes the towns of Matthews and Huntersville, it’s puzzling at first glance.

But delve a little deeper and the mystery has been solved: it’s all about inventory and the construction of new homes.

Building new homes in Charlotte

Time to get back to work building new homes in Charlotte!

In fact, housing starts have been drifting lower, to the point where some fear the possibility of serious housing shortages down the road. And it’s true that new construction and building permit applications continue to lag behind growing demand. But when we factor in the widespread availability of credit coupled with low mortgage rates, not to mention the forecast for robust economic growth for the Charlotte, NC area, it’s easy to make a case for optimism. So despite the concerns over inventory, it’s reasonable to expect home builders to rise up to the challenge.

As of June 30, 2017, the inventory of homes for sale came in at 9,967 homes, compared to 12,592 for June, 2016. That’s a drop of 2,625 units, representing a decrease of 20.8%. The number of months supply of homes for sale declined from 3.5 to 2.5, a loss of 28.6%. Further confirmation of the ongoing seller’s market can be seen in the percent of original list price received, which was 96.8% last June, but has now climbed to 97.5%, a gain of .7%. That’s not a huge increase, but we have to remember that that significant statistic has grown steadily for several years. And finally, when we look at the current median sales price of $245,000, we see a $20,000 increase from June, 2016, a hefty rise of 8.9%. Once again, all indicators point to the long-standing seller’s market to persist for the foreseeable future.

See reports for CharlotteMatthews, and Huntersville to compare sales trends between area cities.

About jptuggle

My name is Julie Tuggle, broker/owner of Carolina Buyer’s Agent in Charlotte, NC. After four years working for a traditional broker, I saw the need for a firm that would represent buyers best interests only on any home for sale in the Charlotte area, including For-Sale-By-Owner homes, so I opened Carolina Buyer’s Agent in 1998. Carolina Buyer’s Agent specializes in buyer representation only, giving buyers the negotiating advantage throughout the home purchase process. We’re one of the only real estate firms in the Charlotte area that doesn’t take listings or represent sellers, so you’ll never have to worry about the risk of “dual or designated agency” – the conflict of interest that exists when your agent’s company is also representing the best interests of the seller on the home you want to buy.

Visit our web site, , for more information about working with an exclusive buyer agent when you’re ready to start thinking about purchasing a home. From there, you can search for MLS-listed homes and for-sale-by-owner homes, too. We’ll also explain the legal difference between a dual agent and an exclusive buyer’s agent so you can make the right decision on one of the most important investments you’ll ever own. Search for Charlotte real estate including for-sale-by-owner homes, and find Charlotte school and community information at . I’m a non-smoker and my hobbies are tennis, gardening and of course, investing in real estate!