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.
Charlotte region remained a seller’s market in October 2019 with inventory remaining extremely tight, dropping 19.5% compared with October 2018. Despite lower inventory, the Charlotte market has shown resiliency and buyer demand for homes remained strong as interest rates dropped.
