Charlotte Region Real Estate Report: September 2020

 

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

 

September 2020 continued to see solid strengthening in the housing market in the greater Charlotte region, despite the ongoing pandemic. Pending contract and closed sales activity shows buyer interest with demand returning to pre-pandemic levels and higher due to historically low interest rates fueling much of the buyer demand

 

Housing inventory remained at record lows and new listings are not keeping up with demand despite an increase in new listings in September. At 1.1 months of supply, it is the lowest level 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 34 cumulative days on market and 29 days on market until sale, homes are selling nearly as fast as they are listed. Multiple offers on homes have once again returned to the Charlotte region real estate market. Both median and average home sale prices were up across the region.

 

Housing Market Snapshot: Charlotte Region September 2020

• Closed Sales: up 11.8% year-over-year.
• Homes Sold: 4877 in September 2020 versus 4,364 in September 2019
• Pending Sales: up 28.1% year-over-year 
• New Listings: up 11% year-over-year 
• Inventory of Homes: down 51.3% year-over-year
• Months Supply of Homes:  down 56% with just 1.1 months supply of homes compared with 2.5 months supply in September 2019
• Days on Market Until Sale: 29 days in September 2020 versus 39 days in September 2019
• Average Sale Price: up 16% to $349,041 and up 8.6% year-to-date
• Median Sale Price: up 11.5% year-over-year to $289,900 and up 8.8% year-to-date
• Home Showings: up 20.3% year-over-year

 

 

 

Housing Market Snapshot:  Mecklenburg County, NC September 2020

• Closed Sales: up 9.5% year-over-year 
• Homes Sold: 2,008 in September 2020 versus 1,833 in September 2019
• Pending Sales: up 17.3% year-over-year 
• New Listings: up 9.4% year-over-year 
• Inventory of Homes: down 45.2% year-over-year
• Months Supply of Homes: down 50% to 1.1 months supply of homes compared with 2.2 months supply in September 2019
• Days on Market Until Sale: 24 days in September 2020 versus 34 days in September 2019
• Average Sale Price: up 17.2% to $388,411 and up 8.3% year-to-date
• Median Sale Price: up up 12.4% to $305,738and up 9.6% year-to-date
• Home Showings: up 18% year-over-year

 

Housing Market Snapshot:  Union County, NC September 2020

• Closed Sales: up 17.3% year-over-year 
• Homes Sold:  435 in September 2020 versus 371 in September 2019
• Pending Sales: up 25.9% year-over-year
• New Listings: up 4.4% year-over-year 
• Inventory of Homes: down 58.4% year-over-year
• Months Supply of Homes: down 62.5% to 0.9 months supply of homes compared with 2.4 months supply in September 2019
• Days on Market Until Sale: 31 days in September 2020 versus 36 days in September 2019
• Average Sale Price: up 15.8% to $399,523 and up 7% year-to-date
• Median Sale Price: up 9.8% to $335,000 and up 8.2% year-to-date
• Home Showings: up 30.4% year-over-year

 

Housing Market Snapshot: Lancaster County, SC September 2020

• Closed Sales: up 11.2% year-over-year 
• Homes Sold: 209 in September 2020 versus 188 in September 2019
• Pending Sales: up 45% year-over-year 
• New Listings: up 22.1% year-over-year 
• Inventory of Homes: down 51.7% year-over-year
• Months Supply of Homes: down 59.3% to 1.1 months supply of homes compared with 2.7 months supply in September 2019
• Days on Market Until Sale: 35 days in September 2020 versus 49 days in September 2019
• Average Sale Price: up 2.2% to $325,115 and up 10.5% year-to-date
• Median Sale Price:  up 6.5% year-over-year to $330,000 and up 7.6% year-to-date
• Home Showings: up 13.7% year-over-year

 

Housing Market Snapshot: York County, SC September 2020

• Closed Sales: down 2.5% year-over-year 
• Homes Sold: 459 in September 2020 versus 471 in September 2019
• Pending Sales: up 40.8% year-over-year 
• New Listings: up 14.8% year-over-year 
• Inventory of Homes: down 58.2% year-over-year
• Months Supply of Homes: down 60.9% to 0.9 months of supply of homes compared with 2.3 months supply in September 2019
• Days on Market Until Sale: 24 days in September 2020 versus 37 days in September 2019
• Average Sale Price: up 18.9% to $343,888 and up 8% year-to-date
• Median Sale Price: up 11.9% to $291,000 and up 6.9% year-to-date
• Home Showings: up 13.1% year-over-year

 

 

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

We can help.

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

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE. 

 

 

MEDIAN HOME SALE PRICE TRENDS IN THE CHARLOTTE REGION

 

 

 

  LOOKING FOR YOUR DREAM HOME IN THE CHARLOTTE AREA? 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

 

 WONDERING WHAT YOUR CHARLOTTE AREA HOME IS WORTH IN TODAY’S MARKET? 

 

 

 

                                  WHY THIS FALL IS THE SEASON TO SELL YOUR CHARLOTTE AREA HOUSE: VIDEO

 

 

                       READY TO SELL YOUR CHARLOTTE AREA HOME? HOME BUYER TRAFFIC IS ON THE RISE: VIDEO

 

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE 

 

 

This Charlotte region housing market update for September 2020 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.”