Charlotte Region Real Estate In 2020

Charlotte region real estate in 2020 remained a home seller’s market 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.

 

Charlotte Region Real Estate In 2020…

And What It Means For You…

 

With a razor-thin 0.8 months of housing inventory at 2020 year-end, there is no doubt that the Charlotte region remained a seller’s market in 2020. This is the most critical aspect of the Charlotte market right now, as it has been for the last several years: the lack of homes for buyers to purchase. Availability of affordable homes is really at critical shortage. The supply of homes, or rather lack thereof, is driving Charlotte area home prices up and the housing affordability index down as demand continues to outpace supply. Distressed property sales represent less than 1% of Charlotte region home sales and buyers looking for a bargain in this segment of the market will be disappointed. Multiple offers again reign supreme in all price points.

Charlotte Region Real Estate Market Quick Facts At A Glance:
2016 – 2020

 

 

• Median Sale Price: up 9.8% in 2020 to $280,000.
• Average Sale Price: up 10.3% in 2020 to $334,985.
• Days On Market (List to Close): 88 days in 2020 (down 6 days versus 2019).
• Closed Sales: up 5.5% in 2020 to 54,076 units.
• Pending Sales: up 9.6% in 2020 to 56,800 units.
• Percent Of Original List Price Received: 98% in 2020 (up 1.3% over 2019).
• New Listings: down 1.5% in 2020.
• Inventory Of Homes For Sale: down 55% in 2020 to 3,860 units (the lowest level of inventory since 2007).
• Distressed Homes Sold: down 14% in 2020, representing just 0.8% of total sales.

 

 

Want to know what this would mean for your family if you decide to buy or sell a home in the Charlotte region?

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This Charlotte region real estate in 2020 update is provided by Nina Hollander with Coldwell Banker, Greater Charlotte  area residential real estate expert. I’ve been opening doors for Charlotte area home buyers and sellers since 1999. Let me open the door to your next home… you’ll be glad you did!

If you’re considering selling or purchasing a home in Greater Charlotte area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:

 “The Right Broker Makes All The Difference.”