Mooresville: New Listings Up, Sales Prices Down for First Two Months of 2019

[MOORESVILLE, NC] New listings and pending sales saw increases in February 2019 compared to February 2018, while sales price and percent of original list price received dropped in comparison to their figures from the same period last year.

208 new listings were added in February, which combined with the 217 added in January equates to a 20.4% increase in new listings through the first two months on this year, compared to last year. Closed sales, however, are down, with 224 total through February marking a 2.2% decrease from February last year. The month ended with an inventory of 568 homes for sale, an increase of 1.2% over 2018.

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Charlotte December 2018 Real Estate Market Report

[Current as of January 5, 2019. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor® Association. Report © 2019 ShowingTime.]

Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019. This may apply some downward pressure on prices for beleaguered home buyers. A fourth interest rate hike by the Federal Reserve in 2018 spooked the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer.

New Listings were down in the Charlotte region by 4.4 percent to 2,601. Pending Sales held steady at 2,769 Inventory shrank 5.9 percent to 8,718 units.

Prices moved higher as Median Sales Price was up 1.6 percent to $236,750. Months Supply of Homes for Sale was down 4.3 percent to 2.2 months, indicating that demand increased relative to supply.

Unemployment rates remained remarkably low again in 2018, and wages continued to improve for many U.S. households. It is generally good for all parties involved in real estate transactions when wages grow, but the percentage of increase, on average, has not kept pace with home price increases. This created an affordability crux in the second half of 2018. Housing affordability will remain an important storyline in 2019.


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Richard Slifkin, Broker/Realtor®
Highgarden Real Estate
Cell: 704-658-5352
Email: RSlifkin@highgarden.com

Real Estate Website: RichardIsMyAgent.com
Facebook: @RichardSlifkinRealtor
YouTube: https://www.youtube.com/channel/…
Twitter: @RealtorRS

Serving the Lake Norman and Charlotte, NC Area, including: China Grove, Concord, Cornelius, Davidson, Denver, Huntersville, Landis, Kannapolis, Mooresville, Salisbury, Sherrills Ford and Troutman.

Serving the Lake Norman, NC Area, including: China Grove, Concord, Cornelius, Davidson, Denver, Huntersville, Landis, Kannapolis, Mooresville, Salisbury, Sherrills Ford and Troutman.

[The Charlotte Region report includes Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties in North Carolina, and Chester, Chesterfield, Lancaster and York counties in South Carolina. Comprised of single-family properties, townhomes and condominiums combined. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Percent changes are calculated using rounded figures.]

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Richard Slifkin, Broker/Realtor® Highgarden Real Estate Cell: 704-658-5352 Email: RSlifkin@highgarden.com Real Estate Website: RichardIsMyAgent.com Facebook: @RichardSlifkinRealtor YouTube: https://www.youtube.com/channel/… Twitter: @RealtorRS Serving the Lake Norman and Charlotte, NC Area, including: China Grove, Concord, Cornelius, Davidson, Denver, Huntersville, Landis, Kannapolis, Mooresville, Salisbury, Sherrills Ford and Troutman.

Charlotte Region October Indicators Report – Including Median Sales Prices for 10 Area Towns

OCTOBER 2018: If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the year. A trend of market balance is emerging as we approach the end of 2018. Prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices. New Listings were up in the Charlotte region by 6.9 percent to 4,796. Pending Sales increased 5.0 percent to 4,091. Inventory shrank 8.7 percent to 10,055 units. Prices moved higher as Median Sales Price was up 5.0 percent to $231,000. Months Supply of Homes for Sale was down 7.4 percent to 2.5 months, indicating that demand increased relative to supply. Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market. The national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months. This is exceptional news for industries related to real estate. Meanwhile, homebuilder confidence remains positive, homeownership rates have increased in the key under-35 buyer group and prices, though still rising, have widely reduced the march toward record highs. Contact me for the full Charlotte Market Overview, including key Charlotte market metrics graphs. Current as of November 5, 2018. All data from CarolinaMLS, Inc. Report provided by the Charlotte Regional Realtor® Association. Report © 2018 ShowingTime.

OCTOBER 2018 MEDIAN SALES PRICE BY TOWN:

  • Mooresville: $300,365 [+2.9% vs. October 2017]
  • Concord: $205,000 [+2.8%] – smallest gain in median sales price
  • Denver: $330,000 [+6.5%]
  • Cornelius: $265,000 [-3.8%] – largest (only) decrease in median sales price
  • Huntersville: $315,000 [+9.0%]
  • Kannapolis: $146,500 [+16%]
  • China Grove: $151,495 [+16.5%]
  • Sherrills Ford: $295,415 [+11%]
  • Troutman: $250,000 [+19.9%] – largest percentage increase
  • Davidson: $372,500 [+17.9%] – highest median sales price
See graphs below for more details:









Richard Slifkin, Broker/Realtor® Highgarden Real Estate Cell: 704-658-5352 Email: RSlifkin@highgarden.com Real Estate Website: RichardIsMyAgent.com Facebook: @RichardSlifkinRealtor YouTube: https://www.youtube.com/channel/… Twitter: @RealtorRS Serving the Lake Norman and Charlotte, NC Area, including: China Grove, Concord, Cornelius, Davidson, Denver, Huntersville, Landis, Kannapolis, Mooresville, Salisbury, Sherrills Ford and Troutman.