June Home Sales up 31 Percent Across Charlotte Region

Preliminary data show CarolinaMLS June sales posted gains across the region with closings up 31.2 percent compared to June 2012.  June 2013 closed sales totaled 3,485 compared to 2,657 for the same period last year.   Both the median and average sales prices continued to rise, marking 19 consecutive months of price gains across the region.  The median sales price ($184,000) was up 7.4 percent over June 2012 ($171,250), and the average sales price in June 2013 ($239,842) was 5.2 percent higher than June 2012 ($227,907). The average list price in June 2013 ($259,086) increased 8.8 percent over June 2012 ($238,201), bringing the percent of original list price received measure to 95.1 percent compared to 92.7 percent last June.  Preliminary pending sales counts for the month totaled 3,534, a slight decrease of 3.1 percent over the previous period when contracts totaled 3,646. New residential listings totaled 4,585, up 9.1 percent over June 2012.  Inventory declined 21.9 percent compared to June 2012, leaving the CarolinaMLS region with a 5.1-months’ supply of homes for sale. 2013 Association/CarolinaMLS President Eric Locher said, “We’re mid-way through the year and continue to see positive signs of a recovering market in our region. We will continue to watch home prices, which are gradually increasing, time on market, which has decreased substantially, and sellers returning to the marketplace.” The average number of days a property was on the market from the time it was listed until it closed (List to Close) was 132 days, which is a decrease of 16 days compared to June 2012.  Days on Market (DOM), the metric that accrues for “Active” and “Under Contract-Show” statuses only, totaled 93 days compared to 111 days for the same period last year.  Foreclosures and short sales are down compared to last year, accounting for 7.6 percent of new listings and 9.5 percent of all closed sales in June.