One more month down in 2020! Often we hear about the market slowing in the fall but for October, numbers continued to hold strong. With such a tight inventory, and interest rates remaining as low as they are, we've still got plenty of competition in the Charlotte area. 

You'll see that both prices and number of sales remained steady, as did months supply holding at 1.1 again. One interesting thing we see is pending sales went up last month, meaning buyers are still out there shopping for their next homes! If you're curious to know what your house is worth you can get a general estimate with this link, or send us an email. 

 

Number of Closed Sales

1,513

Avg. Price

$419,583

Price Compared to Last Month 

.37%

Price Compared to Last Year

+ 14.4 %

Median Price

$323,000

Median Price Compared to Last Year

+ 15.2 %

Avg. Days on Market

20

Pending Sales

1,637

House Supply

1.1 Months

Avg. Mortgage Rate

2.83 %

Avg. $/Sqft

$173

New Listings

1,752

Above are market statistics for Mecklenburg County, single family homes. Statistics for your neighborhood may vary, so for more accurate data about your specific area, send us an email at Bobby@DowneyProperties.com.