As Charlotte region's home prices soar, these areas lead the growth

CHARLOTTE, N.C. — June marked yet another month that brought about a surge in Charlotte-area home prices.

Sales prices, on an annual, median basis, rose 2.8% to $248,045 while increasing 5.7% to $302,177 on average, according to newly released statistics by the Charlotte Regional Realtor Association, which pulls data from Carolinas Multiple Listing Services Inc. for its reports.

When looking at the first six months of 2018, those price increases were even higher. From January through June, the median sales price of a home in the Charlotte region jumped 8% to $237,500 from $220,000 in the same period last year. The average sales price rose to $287,085 from $268,347 — a 7% increase.

But the rise in home prices is just one obstacle that homebuyers face in the current market. A depleted housing inventory and short turnaround for homes listed for sale are also a result of Charlotte’s hot seller’s market. Local sellers are receiving more than 97% of the asking price when the home was originally listed.

In turn, home sales have dropped 2.1% during the first half of the year.

The CBJ has compiled a slideshow that provides a look at where home prices are growing — and slowing — the most across the region. The data comes from the Charlotte Regional Realtor Association’s market snapshot, which, released on a monthly basis, provides insight into housing activity within 30 submarkets.

Check out the slideshow here: http://bizj.us/1pngco

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