Charlotte Region Real Estate Report: January 2021

 

Latest news on the greater Charlotte region’s real estate market in January and what it means for you…

January 2021 saw a continuation of the strong housing market in the greater Charlotte region in 2020, despite the ongoing pandemic. Pending contract and closed sales activity shows buyer interest and demand returning to and exceeding pre-pandemic levels. Historically low interest rates continue to fuel much of the buyer demand.

 

With Realtor.com recently ranking Charlotte third in the top 10 Metros for 2021, the Greater Charlotte market will most likely continue to heat up this year to due to razor-thin inventory and the number of buyers in the market.

 

Housing inventory remained at critically low levels with new listings not keeping up with demand. With less than a one month of supply of homes, we continue to see some of the lowest levels of inventory on record in the Charlotte region. This presents a unique opportunity for sellers who are ready to list, as new listings receive high visibility and spend less time on market.

 

Averaging 26 days on market, homes are selling nearly as fast as they are listed. Multiple offers on homes are again a staple of the Charlotte region real estate market. Both median and average home sale prices were up across the region year-over-year. The critically low levels of inventory will continue to impact home prices in the coming months. And lack of adequate inventory is what will hold the market back in terms of increased sales.

 

 

Housing Market Snapshot: Charlotte Region January 2021

• Closed Sales: up 11.9% year-over-year.
• Homes Sold: 3,377 in January 2021 versus 3,019 in January 2020.
• Pending Sales: up 15.1% year-over-year. 
• New Listings: down 7.8% year-over-year.
• Inventory of Homes: down 59.8% year-over-year.
• Months Supply of Homes:  down 63.2% with just 0.7 months supply of homes compared with 1.9 months supply in January 2020.
• Days on Market Until Sale: 26 days in January 2020 versus 46 days in January 2020.
• Average Sale Price: up 13.6% year-over-year to $339,984. 
• Median Sale Price: up 12.9% year-over-year to $285,000. 
• % of Original List Price Received: 98.9%, increasing 2.9% year-over-year.

 

 

 

Housing Market Snapshot:  Mecklenburg County, NC January 2021

• Closed Sales: up 8.0% year-over-year. 
• Homes Sold: 1,830 in January 2021 versus 1,725 in January 2020.
• Pending Sales: up 6.1% year-over-year. 
• New Listings: down 13.7% year-over-year. 
• Inventory of Homes: down 57.2% year-over-year.
• Months Supply of Homes: down 58.8% to a 0.7 month supply of homes compared with 1.7 months supply in January 2020.
• Days on Market Until Sale: 24 days in January 2021 versus 41 days in January 2020.
• Average Sale Price: up 12.6% to $383,626 year-over-year.
• Median Sale Price: up 15.6% to $309,950.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot:  Union County, NC January 2021

• Closed Sales: down 0.8% year-over-year. 
• Homes Sold: 419 in January 2021 versus 370 in January 2020.
• Pending Sales: up 13.2% year-over-year.
• New Listings: up 8.2% year-over-year.
• Inventory of Homes: down 59.6% year-over-year.
• Months Supply of Homes: down 64.7% to 0.6 months supply of homes compared with 1.7 months supply in January 2020.
• Days on Market Until Sale: 34 days in January 2021 versus 47 days in January 2020.
• Average Sale Price: up 23.2% to $416,350 year-over-year.
• Median Sale Price: up 20.3% to $360,800 year-over-year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot: Lancaster County, SC January 2021

• Closed Sales: up 14.3% year-over-year. 
• Homes Sold: 199 in January 2021 versus 157 in January 2020.
• Pending Sales: down 3.4% year-over-year. 
• New Listings: down 21.1% year-over-year. 
• Inventory of Homes: down 65.8% year-over-year.
• Months Supply of Homes: down 72.7% to a 0.6 month supply of homes compared with 2.2 months supply in January 2020.
• Days on Market Until Sale: 31days in January 2021 versus 52 days in January 2020.
• Average Sale Price: up 12.0% to $345,893 year-over-year.
• Median Sale Price:  up 11.1% year-over-year to $339,950.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot: York County, SC January 2021

• Closed Sales: up 35.4% year-over-year. 
• Homes Sold: 363 in January 2021 versus 268 in January 2020.
• Pending Sales: up 16.3% year-over-year. 
• New Listings: down 9.4% year-over-year. 
• Inventory of Homes: down 69.7% year-over-year.
• Months Supply of Homes: down 73.7% to a 0.5 month supply of homes compared with 1.9 months supply in January 2020.
• Days on Market Until Sale: 19 days in January 2021 versus 43 days in January 2020.
• Average Sale Price: up 14.7% year-over-year to $326,512.
• Median Sale Price: up 11.5% year-over-year to $290,000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Want to know what this would mean for your family if you decide to buy or sell a Charlotte region home?

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Call us today at 704-779-0813 or contact us here.

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This Charlotte region housing market update for January 2021 is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area residential real estate experts serving greater Charlotte region home buyers and sellers for 20+ years.

 

If you’re considering selling or purchasing a home in the Charlotte region, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how:

 “The Right Broker Makes All The Difference.”