October 2020 year-to-date saw a continued strengthening in the luxury housing market in the Charlotte region versus the same time frame in 2019, despite the ongoing pandemic. Home showings remained strong, 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 Remains Strong
Latest news on Charlotte Region’s luxury housing market and what it means for you…
Charlotte Region’s luxury housing market continued to strengthen in October 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 21.3% decline in inventory and a minimal increase in new listings of 3.4%. Days on market, both average and median, also were down year-over-year, as was the months supply of inventory. Luxury home sellers continued to see a higher price as a percent of listing price, as well.
Luxury Housing Market Snapshot: Charlotte Region October 2020 Year-To-Date
Homes Sold: 1,828 in October 2020 year-to-date, up 27.7%, versus 1,431 in October 2019
Pending Sales: 2,206 in October 2020, up 25.3% year-to-date, versus 1,760 in October 2019
New Listings: up 3.4% to 2,881 in October 2020 year-to-date versus 2,787 in October 2019
Inventory of Homes: down 21.3% to 851 in October 2020 year-date versus 1,081 in October 2019
Months Supply of Homes: down 32.4% with 5 months supply of homes in October 2020 year-to-date versus 7.4 months supply in October 2019
Average Days on Market: 67 days in October 2020 year-to-date versus 77 days in October 2019
Median Days on Market: 21 days in October 2020 year-to-date versus 35 days in October 2019
Average Sale Price: up 2.7% to $1,1,58,359 in October 2020 year-to-date versus $1,127,734 in October 2019
Median Sale Price: up 2% to $979,000 in October 2020 year-to-date versus $960,250 in October 2019
Median % Of List Price Received: up 0.8% to 97.1% in October 2020 year-to-date versus 96.3% October 2019
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region home?