Last week, the Charlotte Regional Realtor Association released the market statistics for the month of June. Comparing year over year, 2016 continues to be a good year for real estate in the Charlotte area.
In the City of Charlotte, new listings were up 8.1% over last year and closed sales year to date were up 2.6%. Inventory of homes was down 31.6% from last June showing that the sellers market trend is continuing to hold. Homes were also on the market for fewer days before being sold, down 32.7% from last year from 52 days to 35 days.
In Fort Mill, SC average sales price for a home was up 9.8% from last year from $306,183 to $336,179. Sellers in Fort Mill are getting an average of 97.7% of list price when they sell. There are also 17.5% more new listings on the market this year over last year.
Uptown Charlotte saw increases in new listings, and pending sales, but had a 22% reduction in the number of pending sales from last year at the same time. Year to date, the pending sales were up 18.9%. Uptown is also a strong sellers market right now as there is only 2.5 months supply of inventory, a reduction of 45.7% from the same time last year.
York County, SC is having a great month with a 13.4% increase in new listings, reduction of inventory of 28.9%, and increase in average sales price of 7.2% from $252,715 to $270,908. Year to date, median sales price is up $20,000 from last year with homes on the market 22.6% less time from 84 days to 65 days from list to sale.
It is still a great time to buy a home with interest rates continuing to be low. It is also a great time to sell as there is less inventory on the market, but buyer demand appears to remain strong.