Charlotte Region Real Estate Report: April 2021

Charlotte Region real estate market in April 2021 saw continued strengthening. Charlotte’s housing market has essentially bounced back after the pandemic-related lockdowns one year ago that put real estate activity on pause. Home prices continued to increase. Days on market, inventory, and months supply of homes were substantially lower than in April 2020. With so little inventory, one could say that it’s on “life support” these days. Mecklenburg, Union, Lancaster, York and Gaston Counties in the Charlotte region essentially mirrored the overall housing market activity.

Charlotte Region’s Home Sales Activity Strengthened In April 2021

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

April 2021 saw the continuation of the strong housing market in the greater Charlotte region in 2020 and could be considered as having bounced back from the effects of the pandemic-related lockdowns in April 2020. Pending contract and closed sales activity shows buyer interest and demand returning to and exceeding pre-pandemic levels and straining inventory. Historically low interest rates continue to fuel much of the buyer demand, as do the years of steady population growth in the Greater Charlotte area.

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, despite a year-over-year increase. With just over one-half of a month’s 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 20 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 by double digits across the region year-over-year. The critically low levels of inventory will continue to impact home prices in the coming months. Lack of adequate inventory to satisfy buyer demand is what will hold the market back in terms of sales momentum.

Housing Market Snapshot: Charlotte Region April 2021

Closed Sales: up 24.8% year-over-year.
Homes Sold: 4,678 in April 2021 versus 3,749 in April 2020.
Pending Sales: up 46.3% year-over-year.
New Listings: up 32.5% year-over-year.
Inventory of Homes: down 66.8% year-over-year.
Months Supply of Homes: down 71.4% with just 0.6 months supply of homes compared with 2.1 months supply in April 2020.
Days on Market Until Sale: 20 days in April 2021 versus 39 days in April 2020.
Average Sale Price: up 16.4% year-over-year to $377,643
Median Sale Price: up 14.5% year-over-year to $315,000.
% of Original List Price Received: 101.0%, increasing 3.4% year-over-year.

Housing Market Snapshot: Mecklenburg County, NC April 2021

Closed Sales: up 31.4% year-over-year.
Homes Sold: 1,900 in April 2021 versus 1,446 in April 2020.
Pending Sales: up 66.6% year-over-year.
New Listings: up 44.3% year-over-year. Year-to-date, new listings are up 5.7% as of April.
Inventory of Homes: down 62.1% year-over-year.
Months Supply of Homes: down 68.4% to a 0.6 month supply of homes compared with 1.9 months supply in April 2020.
Days on Market Until Sale: 20 days in April 2021 versus 32 days in April 2020.
Average Sale Price: up 14.2% to $431,447 year-over-year.
Median Sale Price: up 12.6% to $343,325.

Housing Market Snapshot: Union County, NC April 2021

Closed Sales: up 28.5% year-over-year.
Homes Sold: 410 in April 2021 versus 319 in April 2020.
Pending Sales: up 44.0% year-over-year.
New Listings: up 52.4% year-over-year.
Inventory of Homes: down 65.5% year-over-year.
Months Supply of Homes: down 70% to 0.6 months supply of homes compared with 2 months supply in April 2020.
Days on Market Until Sale: 12 days in April 2021 versus 32 days in April 2020.
Average Sale Price: up 11.8% to $432,019 year-over-year.
Median Sale Price: up 8.2% to $355,000 year-over-year.

Housing Market Snapshot: Lancaster County, SC April 2021

Closed Sales: up 50.7% year-over-year..
Homes Sold: 222 in April 2021 versus 190 in April 2020.
Pending Sales: down 4.5% year-over-year.
New Listings: down 14.4% year-over-year.
Inventory of Homes: down 74.0% year-over-year.
Months Supply of Homes: down 79.2% to a 0.5 month supply of homes compared with 2.4 months supply in April 2020.
Days on Market Until Sale: 18 days in April 2021 versus 45 days in April 2020.
Average Sale Price: up 16.5% to $358,958 year-over-year.
Median Sale Price: up 23.5% year-over-year to $365,000.

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Housing Market Snapshot: York County, SC April 2021

Closed Sales: up 0.9% year-over-year.
Homes Sold: 510 in April 2021 versus 470 in April 2020.
Pending Sales: up 8.5% year-over-year.
New Listings: up 1.9% year-over-year.
Inventory of Homes: down 72.4% year-over-year.
Months Supply of Homes: down 75% to a 0.5 month supply of homes compared with 2 months supply in April 2020.
Days on Market Until Sale: 19 days in April 2021 versus 39 days in April 2020.
Average Sale Price: up 19.3% year-over-year to $362,608.
Median Sale Price: up 158% year-over-year to $315,000.

Housing Market Snapshot: Gaston County, NC April 2021

Closed Sales: up 28.1% year-over-year.
Homes Sold: 381 in April 2021 versus 286 in April 2020.
Pending Sales: up 33.2% year-over-year.
New Listings: up 24.9% year-over-year.
Inventory of Homes: down 74.2% year-over-year.
Months Supply of Homes: down 81.0% to a 0.4 month supply of homes compared with 2.1 months supply in April 2020.
Days on Market Until Sale: 20 days in April 2021 versus 42 days in April 2020.
Average Sale Price: up 16.2% year-over-year to $273,025.
Median Sale Price: up 20.1% year-over-year to $250,000.

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This Charlotte region housing market update for April 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:

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