East Charlotte Residential Real Estate July 2015 Update

IMG_8662The weather isn’t the only think that is hot in Charlotte this summer! The east Charlotte real estate market is also hot. Home sales in the Charlotte region increased 22.1% in June from a year earlier, the Charlotte Regional Realtor Association reported — a figure that surpasses the year-over-year gains posted in recent months. Data from the Carolina Multiple Listing Service show 4,434 homes were sold in the area last month, up from 3,630 sold in June 2014. On a month-to-month basis, sales were up 15.3% in June from May, when 3,845 homes were sold.

The average sales price last month was $260,003, up 0.8% from a year ago, while the median sales price was $206,089, rising 4.5%.

Pending sales last month totaled 4,438, soaring 26.5% from June 2014. The Charlotte market’s housing inventory continues to decrease, falling 23.8% from June of last year. The region now has a 3.9-month supply of homes for sale. A housing supply of six months is considered a balanced market between buyers and sellers.