Home sales in the Charlotte region rose in September from the same month last year even as a low supply of properties pushed prices up, the Charlotte Regional Realtor Association said Thursday.
Sales totaled 3,436 last month, up 6.1 percent from 3,237 sales in September 2014, according to the association’s report, which is based on existing-home sales and doesn’t include the sales of new homes.
Last month, inventory fell 21.7 percent compared with September 2014, leaving the region with a 3.7-month supply of inventory, or 12,795 properties for sale.
That is below the six-month supply considered to be a balanced market under a widely accepted definition.
Despite the low inventory of homes for sale across the region, price increases continue to be “moderate,” said Maren Brisson-Kuester, the association’s president.
“This is good news and continues to signal the overall affordability of our market,” Brisson-Kuester said in a statement.
The association said the average sale price of a home in the region was $240,169, 5.8 percent higher than it was in September 2014. The average list price in September was $285,977, up 12.2 percent from the same time last year.
Pending sales, a forward-looking indicator, totaled 3,669 in September, 23.2 percent higher than the same month last year. Pending sales are those that could close in roughly 45 to 60 days.