Charlotte Real Estate Report: February 2020

Charlotte region ended 2019 as a seller’s market and has remained a seller’s market in the first two months of 2020 with inventory remaining extremely tight, dropping 31.3% in February 2020 compared with February 2019.

Lack of inventory resulted in higher home list and sale prices year-over-year. Average sale prices increased 9% to $304,569 and median sale prices increased 11.9% year-over-year to $262,640. Both average and median sale prices also increased month-over-month.

Closed sales increased 3.6%, while pending sales were up 24.8% year-over-year in February. Year-to-date 2020, closed sales have increased 7.7% and pending sales increased 21.3% year-over-year.

Homes continue to sell quickly with average days on market 50 days, down 4 days from one year ago. Cumulative days on market were down 4 days to 60 year-over-year. The days from list to close dropped 7 days to 99 year-over-year.

The housing affordability index continued to decrease, as well ~ down 10.9% year-over-year.

Months supply of homes remained very low at 1.5 months (down 40% year-over-year from 2.5 months one year ago) and even lower for homes priced under $200,000.

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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Wondering what your Charlotte region home is worth in today’s market? Find out by clicking on the picture below.  

If you’re thinking about selling your Charlotte area home, let’s get together and discuss the supply conditions in your Charlotte neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

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Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.

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