April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
New Listings were up in the Charlotte region by 32.5 percent to 5,711. Pending Sales increased 46.3 percent to 5,453. Inventory shrank 66.8 percent to 3,018.
Prices moved higher as Median Sales Price was up 14.5 percent to $315,000. Months Supply of Homes for Sale was down 71.4 percent to 0.6., indicating that demand increased relative to supply.
In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.