January 2021 saw continued strengthening in the luxury homes market in the Charlotte region versus January 2020, despite the ongoing pandemic. Inventory and months supply of luxury homes were significantly down, as were average and median days on market. Pending and closed sales were up significantly year-over-year.
Charlotte Region’s Luxury Home Sales Activity Remains Strong
Latest news on Charlotte Region’s luxury housing market and what it means for you…
Charlotte Region’s luxury homes real estate market strengthened in January 2021 compared with January 2020, despite the ongoing pandemic. For homes priced above $750,000, the Charlotte region saw both higher pending and closed sales, in spite of a 43% decline in inventory. 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, as well.
Luxury Housing Market Snapshot: Charlotte Region January 2021:
Homes Sold: 143 in January 2021, up 57.1%, versus 91 in January 2020.
Pending Sales: 263 in January 2021, up 96.3% versus 134 in January 2020.
New Listings: up 14.7% to 250 in January 2021 versus 218 in January 2020.
Inventory of Homes: down 43% to 458 in January 2021 versus 803 in January 2020.
Months Supply of Homes: down 56.3% with 2.1 months supply of homes in January 2021 versus 4.8 months supply in January 2020.
Average Days on Market: 53 days in January 2021 versus 77 days in January 2020.
Median Days on Market: 22 days in January 2021 versus 49 days in January 2020.
Average Sale Price: down 4.9% to $1,1,63,242 in January 2021 versus $1,223,748 in January 2020.
Median Sale Price: up 4.9% to $1,000,000 in January 2021 versus $984,500 in January 2020.
Median % Of List Price Received: up 1.6% to 97.5% in January 2021 versus 96% in January 2020.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?