Home sales in the Charlotte region declined last year while the average sales price for homes increased, according to a report released by the Charlotte Regional Realtor Association.
The real estate organization, which studies trends in the Charlotte housing market, reports a decrease of 2.7 percent in sales compared to 2017.
However, the average sales price for homes in the 12-county Charlotte Metro Region increased last year by 6. 4 percent — to $286,796. Homes also sold a bit more quickly in 2018. Homes were on the market for an average of 42 days, compared to 47 days the previous year.
Charlotte Regional Realtor Association President Brenda Hayden said 2018’s numbers were pretty much on par with the previous year. She also predicted a surge of sales in areas outside of the Charlotte region.
“Looking ahead, we expect a more balanced market in Charlotte and Mecklenburg County, while the surrounding counties should continue to see increased sales because of more favorable pricing and supply,” Hayden said.
She also said with the market balancing after a few years of rising home prices and low inventory, buyers and sellers will have to learn how to “get used to buying and selling in the new normal.”