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Charlotte-area home sellers see 14% gains

Those selling their homes last year in the Charlotte metro realized, on average, a $23,000 gain on their purchase price, according to RealtyTrac.

The return for the Charlotte-Concord-Gastonia region, which amounted to about 14 percent of the purchase price, was higher than the national average. Seller profits across the United States averaged 11 percent last year, or $20,378, the highest annual increase since 2007.

Last year was the second consecutive year that U.S. home sellers, on average, realized returns on their investments. Sellers had experienced losses during the previous six years.

“With some local market exceptions, the 2015 home sales data paints the picture of a properly functioning U.S. housing market where homeowners can once again count on real estate as an appreciating asset — a long-touted axiom soundly debunked as ironclad truth between 2008 and 2013,” said RealtyTrac Vice President Daren Blomquist in a written statement. “This return to consistent home price gains for sellers should reinforce confidence in real estate in 2016 and produce another year of solid sales volume as homeowners cash out their equity gains.”

Metros where sellers saw the highest percentage of return on their purchases last year were San Francisco (65 percent); San Jose, California, (63 percent); and New York (52 percent).

Sellers experienced losses in 19 of the 155 metros. Leading the way was Mobile, Alabama, where sellers lost, on average, 16 percent on their purchase price. Other metros with this trend included Cleveland, Baltimore, Philadelphia, and Dayton, Ohio.

RealtyTrac also reports that the Charlotte metro saw a 4 percent annual increase in median home prices at the end of last year. Median home prices in the Charlotte-Concord-Gastonia area grew to $167,000 in December from $160,000 a year earlier. The median price fell 3 percent from $171,750 in November 2015.

RealtyTrac says price gains were seen in 79 of the 87 U.S. metros it analyzed. In markets with more than one million residents, those with the largest median annual home-price appreciation were St. Louis (up 19 percent), Raleigh and Detroit (up 17 percent), and Tampa, Florida (up 15 percent).

Nationally, the median sales price for single-family homes and condos was $206,500, up 10 percent from $187,000 in December 2014. Prices grew 3 percent from November.

In North Carolina, the median sales price rose 5 percent to $166,000 in December from $158,000 a year earlier. Prices fell 1 percent from November 2015.

RealtyTrac is an Irvine, Calif.-based real estate data and analytics firm.

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