Charlotte Region Real Estate Report: December 2020

 

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

December 2020 continued to see a strong housing market in the greater Charlotte region, despite the ongoing pandemic and the holiday season. Pending contract and closed sales activity shows buyer interest with demand returning to and exceeding pre-pandemic levels. Historically low interest rates continue to fuel much of the buyer demand.

 

With Realtor.com recently ranking Charlotte third in the top 10 Metros for 2021, the 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 record lows with new listings not keeping up with demand, despite an increase in new listings in December. With less than a one month 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 25 days on market, 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 year-over-year.

 

 

Housing Market Snapshot: Charlotte Region December 2020

• Closed Sales: up 10.9% year-over-year.
• Homes Sold: 4,655 in December 2020 versus 4,198 in December 2019.
• Pending Sales: up 33.9% year-over-year. 
• New Listings: up 18.2% year-over-year (down 1.5% year-to-date).
• Inventory of Homes: down 55% year-over-year.
• Months Supply of Homes:  down 44.4% with just 0.8 months supply of homes compared with 2 months supply in December 2019.
• Days on Market Until Sale: 25 days in December 2020 versus 45 days in December 2019.
• Average Sale Price: up 13.6% year-over-year to $351,290 and up 10.3% year-to-date.
• Median Sale Price: up 9.9% year-over-year to $291,200 and up 9.8% year-to-date.
• % of Original List Price Received: 98.9%, up 2.6% year-over-year.
• Home Showings: down 16.5% year-over-year.

 

 

 

Housing Market Snapshot:  Mecklenburg County, NC December 2020

• Closed Sales: up 9.5% year-over-year. 
• Homes Sold: 1,853 in December 2020 versus 1,692 in December 2019.
• Pending Sales: up 26.1% year-over-year. 
• New Listings: up 14.3% year-over-year. 
• Inventory of Homes: down 50.5% year-over-year.
• Months Supply of Homes: down 52.9% to a 0.8 month supply of homes compared with 1.7 months supply in December 2019.
• Days on Market Until Sale: 23 days in December 2020 versus 40 days in December 2019.
• Average Sale Price: up 14.6% to $394,235 year-over-year and up 9.8% year-to-date.
• Median Sale Price: up 13.9% to $313,217 and up year-over-year 11.1% year-to-date.
• Home Showings: down 14.1% year-over-year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot:  Union County, NC December 2020

• Closed Sales: up 4.7% year-over-year. 
• Homes Sold: 381 in December 2020 versus 364 in December 2019.
• Pending Sales: up 25.3% year-over-year.
• New Listings: up 31.4% year-over-year.
• Inventory of Homes: down 62.8% year-over-year.
• Months Supply of Homes: down 66.7% to 0.6 months supply of homes compared with 1.8 months supply in December 2019.
• Days on Market Until Sale: 27 days in December 2020 versus 41 days in December 2019.
• Average Sale Price: up 11.5% to $420,898 year-over-year and up 10.3% year-to-date.
• Median Sale Price: up 4.9% to $346,000 year-over-year and up 9.8% year-to-date.
• Home Showings: down 24.2% year-over-year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot: Lancaster County, SC December 2020

• Closed Sales: up 0.6% year-over-year. 
• Homes Sold: 165 in December 2020 versus 164 in December 2019.
• Pending Sales: up 32.5% year-over-year. 
• New Listings: down 0.8% year-over-year. 
• Inventory of Homes: down 63.8% year-over-year.
• Months Supply of Homes: down 70.8% to a 0.7 month supply of homes compared with 2.4 months supply in December 2019.
• Days on Market Until Sale: 29 days in December 2020 versus 61 days in December 2019.
• Average Sale Price: down 0.4% to $317,905 year-over-year and up 10.1% year-to-date.
• Median Sale Price:  up 0.5% year-over-year to $320,000 and up 9.3% year-to-date.
• Home Showings: down 29.3% year-over-year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Market Snapshot: York County, SC December 2020

• Closed Sales: up 9.4% year-over-year. 
• Homes Sold: 465 in December 2020 versus 425 in December 2019.
• Pending Sales: up 55.0% year-over-year. 
• New Listings: up 5.4% year-over-year. 
• Inventory of Homes: down 64.5% year-over-year.
• Months Supply of Homes: down 70.0% to a 0.2 month supply of homes compared with 2 months supply in December 2019.
• Days on Market Until Sale: 23 days in December 2020 versus 49 days in December 2019.
• Average Sale Price: up 12.2% year-over-year to $334,066 and up 9.2% year-to-date.
• Median Sale Price: up 11.1% year-over-year to $300,862 and up 7.8% year-to-date.
• Home Showings: up 15.9% year-over-year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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This Charlotte region housing market update for December 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.”