Mike Hege, MRE
Charlotte, NC
Single-Family Homes
Pridemore Properties
Charlotte, NC
Tue Oct 20 2020
This week the median list price for Charlotte, NC is $462,000 with the market action index hovering around 59. This is less than last month's market action index of 62. Inventory has held steady at or around 1,226.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $462,000 | |
| Per Square Foot | $198 | |
| Days on Market | 72 | |
| Price Decreased | 33% | |
| Price Increased | 11% | |
| Relisted | 5% | |
| Inventory | 1,226 | |
| Median Rent | $1,595 | |
| Most Expensive | $7,000,000 | |
| Least Expensive | $99,000 | |
| Market Action | 59 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,295,000 | 4,352 | 0.25 - 0.5 acre | 5 | 4 | 14 | 30 | 32 | 132 |
| $575,000 | 3,013 | 0.25 - 0.5 acre | 4 | 3 | 22 | 51 | 39 | 62 |
| $378,652 | 2,261 | 0.25 - 0.5 acre | 4 | 2 | 20 | 78 | 79 | 62 |
| $259,900 | 1,580 | 0.25 - 0.5 acre | 3 | 2 | 30 | 130 | 130 | 32 |