Below are the updated statistics for Charlotte and the Surrounding Areas through the end of February 2022. With inventory levels still low Charlotte continues to see an extremely strong Seller's market.
For the 12-month period spanning March 2021 through February 2022, Pending Sales in the Charlotte region were up 2.7 percent overall. The price range with the largest gain in sales was the $300,001 and above range, where they increased 27.9 percent.
The overall Median Sales Price was up 17.5 percent to $335,000. The property type with the largest price gain was the Single-Family segment, where prices increased 18.1 percent to $348,540. The price range that tended to sell the quickest was the $200,001 to $300,000 range at 13 days.
Market-wide, inventory levels were down 45.9 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 42.5 percent. That amounts to 0.5 months supply for Single-Family homes and 0.4 months supply for Condos-Townhomes.
With a shortage of existing homes for sale, many prospective buyers are turning to new construction for their next home purchase.
If you have any questions, please feel free to contact me at your convenience!