November 2020 saw a continued strengthening in the greater Charlotte region housing market, despite the ongoing pandemic. Home prices continued to increase. Days on market, inventory, and months supply of homes were substantially lower than in November 2019. Individual counties in the greater Charlotte region — Mecklenburg, Union, Lancaster and York — essentially mirrored the overall housing market activity.
500+ top selling neighborhoods in the Charlotte area as of November 2020, where at least one home sold each month for the past 12 months. Plus a list of the 250 hottest selling neighborhoods in the city of Charlotte and in Mecklenburg County in November. Find out if your neighborhood is on these lists. What experts predict for home price appreciation in 2021 (video).
Tega Cay, South Carolina remained a home seller’s market in November 2020. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of November, along with higher home sale prices. Buyer demand for Tega Cay homes continues to outstrip supply of homes for sale.
Matthews (28105 zip code) housing market remained a home seller’s market in November 2020, as evidenced by extremely low inventory, less than a one month supply of inventory, decreases in days on market, and lower sales due to lack of inventory. Pent-up buyer demand remains greater than the supply of homes to purchase.
Indian Land, South Carolina housing market unquestionably remained a seller’s market in November 2020, despite the ongoing pandemic. Home prices increased, homes sold quickly with both average and median days on market lower. The months supply of homes was critically low at 1.1 months and housing inventory also dropped by more than 55% year-over-year.
Indian Trail has recovered from the negative affects of the corona virus we saw earlier in 2020. Year-over-year, home prices increased while days on market decreased. Housing inventory is razor-thin and Indian Trail will need a significant increase in inventory to maintain this pace of home sales in the coming months. No doubt there’s plenty of pent-up buyer demand for Indian Trail area homes.
The Waxhaw area housing market remained a seller’s market in November 2020 with continued decreases in inventory. With 55% less inventory despite an increase in new listings, home sale prices increased substantially and days on market decreased significantly. All of this kept the Waxhaw area a home sellers’ market.
Tega Cay, South Carolina remained a home seller’s market in October 2020. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of October, along with much higher home sale prices. Buyer demand for Tega Cay homes continues to outstrip supply of homes for sale.