Charlotte region ended the first month of 2020 as a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 36% to just 1.6 months. Year-over-year home prices increased, days on market decreased, inventory decreased, new listings decreased. Housing affordability index continued to decrease, as well.
Charlotte Real Estate Report: January 2020
Charlotte region ended 2019 as a seller’s market and the first month of 2020 kept that seller’s market going with inventory remaining extremely tight, dropping 28.1% compared with January 2019.
Lack of inventory resulted in higher home list and sale prices year-over-year. Average sale prices increased 10.4% to $297,821 and median sale prices increased 10.4% year-over-year to $252,000.
Closed sales increased 6.8%, while pending sales were up 26.7% year-over-year in January, starting the year on a high note.
Homes continue to sell quickly with average days on market 47 days, down 4 days from one year ago. Cumulative days on market were down 4 days to 56 year-over-year. The days from list to close dropped 8 days to 99 year-over-year.
The housing affordability index continued to decrease, as well ~ down 9.6% year-over-year.
Months supply of homes remained very low at 1.6 months (down 36% year-over-year from 2.5 months one year ago) and even lower for homes priced under $200,000.
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Charlotte Housing Market Highlights: January 2020 Versus January 2019
Median Home Price Trends In Charlotte
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