CHARLOTTE, N.C. — The speed at which homes across the Charlotte market are selling has slowed during the first half of this year, giving local homebuyers a little more breathing room.
[ [ALSO READ: NC city among 25 most affordable housing markets in U.S., study says] ]
From January to June, homes across the region averaged 47 days on the market before being placed under contract, up 6.8 percent — or three days longer — than during the first half of 2018. This metric of days on market, or DOM, refers to the number of days between a property’s most recent listing on an MLS and when it goes under contract for purchase.
As for the total list-to-close time, Charlotte-area homes came off the market after 96 days, up 2.1 percent — or two days longer — than from January to June 2018.
This trend of homes spending a longer amount of time on the market before a sale marks a contrast from 2018, when the DOM metric totaled 42 — five days faster than in 2017.
Giving a closer look at where in the greater Charlotte area homes are lingering versus flying off the market is the focus of part three of CBJ’s four-piece series that dials in on activity in the local home resale market during the first half of the year.
Check it out here.