Charlotte region remained a home seller’s market in 2020 despite the ongoing pandemic. Lack of inventory, buyer demand and historically low interest rates have resulted in higher home prices, lower days on market, multiple offers for homes in virtually all price ranges.
COVID-19 impacted Charlotte real estate sales significantly in April 2020. Year-over-year closed and pending sales, new listings, inventory, housing affordability, days on market, months supply of homes, were all down. Meantime, days on market dropped and home prices increased — essentially due to lack of inventory combined with buyer demand. Home showings were down more than 50% due to COVID-19 restrictions.
Charlotte region ended March 2020 a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 32% to just 1.7 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed sales increased. New listings increased marginally by 1.8%. A small decrease in pending sales might be a harbinger of things to come as shelter-in-place orders reduce market activity due to COVID-19.
Charlotte region ended February 2020 a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 40% to just 1.5 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed and pending sales increased. New listings increased marginally by 2.2%. Housing affordability index continued to decrease, as well.
Charlotte region ended the first month of 2020 as a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 36% to just 1.6 months. Year-over-year home prices increased, days on market decreased, inventory decreased, new listings decreased. Housing affordability index continued to decrease, as well.
Charlotte region remained a seller’s market in December 2019 with inventory remaining extremely tight and the months supply of housing dropping 29.2% to just 1.7 months. Year-over-year home prices increased, days on market decreased, inventory decreased despite new listings increasing slightly. Housing affordability index continued to decrease, as well.
Charlotte region remained a seller’s market in November 2019 with inventory remaining extremely tight, dropping 22.6% compared with November 2018. Year-over-year home prices increased, days on market decreased, new listings decreased. Housing affordability index continues to decrease, as well.
