Charlotte Region Luxury Housing Market Report: July 2020

July 2020 year-to-date saw a continued and solid strengthening in the luxury housing market in the Charlotte region versus the same time frame in 2019, despite the ongoing pandemic. Home showings were up, home prices were up, inventory was down, months supply of homes were down, while closed and pending sales were up as were sale prices.

Charlotte Region’s Luxury Home Sales Activity Strengthens

Latest news on Charlotte Region’s luxury housing market and what it means for you…

Charlotte Region’s luxury housing market saw a solid strengthening July 2020 year-to-date versus the same time frame in 2019, despite the ongoing pandemic. For homes priced above $750,000, the Charlotte region saw both higher pending and closed sales, in spite of a decline of 20.8% in inventory and a drop in new listings. Days on market, both average and median, also were down year-over-year, as was the months supply of inventory.

Luxury Housing Market Snapshot: Charlotte Region July 2020 Year-To-Date

Homes Sold: 1,023 July 2020 year-to-date, up 4.9%, versus 975 in July 2019
Pending Sales: 1,423 July 2020, up 11.5% year-over-year, versus 1,276 in July 2019
New Listings: down 5.2% to 1,986 July 2020 year-to-date versus 2,095 in July 2019
Inventory of Homes: down 20.8% to 876 July 2020 year-date versus 1,106 in July 2019
Months Supply of Homes: down 32.1% with 5.3 months supply of homes July 2020 year-to-date versus 7.8 months supply in July 2019
Average Days on Market: 69 days in July 2020 year-to-date versus 78 days in July 2019
Median Days on Market: 23 days in July 2020 year-to-date versus 32 days in July 2019
Average Sale Price: up 0.9% to $1,151,535 July 2020 year-to-date versus $1,141,405 in July 2019
Median Sale Price: up 1.2% to $975,000 July 2020 year-to-date versus $963,500 in July 2019
Median % Of List Price Received: up 0.6% to 97% July 2020 year-to-date versus July 2019

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This Charlotte region luxury housing market update for July 2020 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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