Is Your Neighborhood In-Demand?

Make no mistake about it– Charlotte is still very much a seller’s market. But, sales cooled a bit in the first half of 2019 compared to the same measure of time last year.

As reported by the Charlotte Business Journal, from January to June, homes in the Charlotte-metro averaged 47 days on the market before being placed under contract. This is up almost 7% from the first half of 2018, a measure equaling three more days. 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.

The total number of days from listing to closing (accounting for time in escrow) went up from 94 to 96 days.

Where are homes moving the fastest?

Additionally, the Charlotte Business Journal studied the major metro regions in the area to assess whether specific neighborhoods are in better- or worse- shape than this same time in 2018. Below you’ll find the three Charlotte neighborhoods with highest growth in days-on-market as well as the three regions with faster closings.

Indian Trail: 46 days on market from January to June 2019. Up 13 days from 2018.
Concord: 44 days on market from January to June 2019. Up 11 days from 2018.
Cornelius: 54 days on market from January to June 2019. Up 8 days from 2018.

Mint Hill: 49 days on market from January to June 2019. Down 7 days from 2018.
Statesville: 59 days on market from January to June 2019. Down 9 days from 2018.
Salisbury: 57 days on market from January to June 2019. Down 10 days from 2018.

For the full list of 20 Charlotte metro regions, visit the Charlotte Business Journal.