February 2021 saw continued strengthening in the luxury homes market in the Charlotte region versus February 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. The luxury home market in Charlotte is now 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 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 February 2021 compared with February 2020, despite the ongoing pandemic. For homes priced above $750,000, the Charlotte region saw both higher pending and closed sales even in the face of a 50.7% 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 February 2021:
Homes Sold: 139 in February 2021, up 58%, versus 88 in February 2020.
Pending Sales: 277 in February 2021, up 73.1% versus 160 in February 2020.
New Listings: up 1.8% to 285 in February 2021 versus 280 in February 2020.
Inventory of Homes: down 50.7% to 427 in February 2021 versus 867 in February 2020.
Months Supply of Homes: down 63.5% with 1.9 months supply of homes in February 2021 versus 5.2 months supply in February 2020.
Average Days on Market: 74 days in February 2021 versus 107 days in February 2020.
Median Days on Market: 26 days in February 2021 versus 73 days in February 2020.
Average Sale Price: down 2.4% to $1,1,58,362 in February 2021 versus $1,130,986 in February 2020.
Median Sale Price: up 13.3% to $1,010,762 in February 2021 versus $892,500 in February 2020.
Median % Of List Price Received: up 3.4% to 98.4% in February 2021 versus 95.2% in February 2020.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?