Charlotte region luxury home sales surged in April 2021. Inventory and the months supply of single family luxury homes were significantly down, as were average and median days on market. Pending and closed sales were up significantly year-over-year. The luxury home market in Charlotte region is definitely a seller’s market compared with one year ago when it was more of a balanced market.
Charlotte Region’s Luxury Home Sales Activity Surges In April 2021
Latest news on Charlotte Region’s luxury housing market in April and what it means for you…
Charlotte Region’s single family luxury homes real estate market surged in April 2021 compared with April 2020. For homes priced above $750,000, the Charlotte region saw astonishingly higher pending and closed sales even in the face of a 49% decline in inventory. This low level of inventory has not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as was the months supply of inventory. Luxury home sellers continued to see a higher sale price as a percent of listing price. Some portion of these significant increases in sales and home prices is due to the fact that in April 2020 our housing market essentially shut-down as a result of the pandemic lockdowns that month.
What remains to be seen as the year progresses is if luxury home buyers will “give in” to buyer fatigue and a “wait and see” position. Buyers are clearly frustrated by multiple offers, declines in inventory, and the lack of inventory we’ve seen in the year to-date.
Luxury Housing Market Snapshot: Charlotte Region April 2021:
- Homes Sold: 286 in April 2021, up 93.2% compared with April 2020.
- Pending Sales: 409 in April 2021, up 297.1% compared with April 2020.
- New Listings: 491 in April 2021 up 171.3% compared with April 2020.
- Inventory of Homes: down 49% to 485 in April 2021 compared with April 2020.
- Months Supply of Homes: down 71% with 1.8 months supply compared with 6.2 months supply in April 2020 and 8.3 months supply in April 2019.
- Average Days on Market: 38 days in April 2021 compared with 55 day in April 2020 and 81 days in April 2019.
- Median Days on Market: 6 days in April 2021 versus 10 days in April 2020 and 34 days in April 2019.
- Average Sale Price: up 8.5% to $1,183,957 in April 2021 compared with $1,090,621 in April 2020.
- Median Sale Price: up 2% to $994,500 in April 2021 compared with $975,000 in April 2020.
- Median % Of List Price Received: up 2.4% to 100% in April 2021 compared with 97.7% in April 2020.
The most expensive home sold in the Charlotte Region in April 2021 sold at $5.400,000 at The Point in Lake Norman (Mooresville). Situated on 1.48 private acres with 400 feet of open shoreline and direct lake access, this waterfront custom-built home featured 5 bedrooms, 6 full bathrooms,2 half bathrooms, a guest house, a 4-car garage. Additional amenities included a boat house, boat lift, private dock, in-ground pool. The Point features a club house, fitness center, golf course, outdoor pool, tennis courts, and walking trails.
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MEDIAN SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
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This Charlotte region luxury 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 Charlotte area luxury home buyers and sellers for 20+ years.
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