As of October 31, inventory continues to be a problem for potential buyers. The number of homes for sale in Charlotte has dropped once again, this time by 20% compared to last year at this time. The number of months supply of homes for sale, which would be about six months in a balanced market, has plummeted to only 1.7 months, a decrease of 26.1% from last October.
Our ongoing inventory shortfall has nudged the median sales price by $24,310, an increase of 10.6% from 2018. And the one hopeful trend in the market figures, a slow decline in the percent of original list price received, seems to have taken a negative turn, inching back up by .1%.