Charlotte Region Real Estate Report: June 2020

 

Latest news on how corona virus impacted the Charlotte region’s real estate market in June and what it means for you…

 

June 2020 saw a solid strengthening in the housing market in the Charlotte region despite the ongoing pandemic. June 2020 home showing activity was up over June 2019. Even though closed sales across the Charlotte region were down 1.8% year-over-year, sales were basically in line with last June. Pending contract activity shows buyer interest and demand has returned to pre-pandemic levels. This is usually the first encouraging sign of recovery. Contracts were up significantly (26.8%) compared June 2019, a sign of pent-up demand stemming from the disruption caused by the pandemic over the last two months.

Housing inventory is at record lows.  At 1.3 months of supply, it is the lowest level of inventory on record in the Charlotte region. This presents a unique opportunity for sellers who are ready to list, as new listings receive high visibility and spend less time on market. Averaging 38 days on market, homes selling nearly as fast as they are listed.

 

Housing Market Snapshot: Charlotte Region June 2020

• Closed Sales: down 1.8% year-over-year.
• Homes Sold: 4,938 in June 2020 versus 5,031 in June 2019
• Pending Sales: up 26.8% year-over-year 
• New Listings: down 8.5% year-over-year 
• Inventory of Homes: down 47.7% year-over-year
• Months Supply of Homes:  down 50% with just 1.3 months supply of homes compared with 2.6 months supply in June 2019
• Days on Market: 38 days in June 2020 versus 40 days in June 2019
• Average Sale Price: up 3.5% to $333,938 and up 5.4% year-to-date
• Median Sale Price: up 7.5% year-over-year to $284,000 and up 8% year-to-date
• Home Showings: up 9% year-over-year

 

 

 

Housing Market Snapshot:  Mecklenburg County, NC June 2020

• Closed Sales: down 25.9% year-over-year 
• Homes Sold: 2,004 in June 2020 versus 2,066 in June 2019
• Pending Sales: down 3% year-over-year 
• New Listings: down 7.5% year-over-year 
• Inventory of Homes: down 47.1% year-over-year
• Months Supply of Homes: down 50% to 1.2 months supply of homes compared with 2.4 months supply in June 2019
• Days on Market: 33 days in June 2020 versus 31 days in June 2019
• Average Sale Price: down 0.5% to $370,042 and up 4.5% year-to-date
• Median Sale Price: up up 5.3% to $300,000 and up 8.2% year-to-date
• Home Showings: up 8.9% year-over-year

 

Housing Market Snapshot:  Union County, NC June 2020

• Closed Sales: up 2.8% year-over-year 
• Homes Sold:  444 in June 2020 versus 432 in June 2019
• Pending Sales: up 15.9% year-over-year
• New Listings: down 16.1% year-over-year 
• Inventory of Homes: down 47.8% year-over-year
• Months Supply of Homes: down 52% to 1.2 months supply of homes compared with 2.5 months supply in June 2019
• Days on Market: 34 days in June 2020 versus 46 days in June 2019
• Average Sale Price: up 7.5% to $397,845 and up 5.9% year-to-date
• Median Sale Price: up 7.6% to $334,800 and up 8.2%
• Home Showings: up 17% year-over-year

 

Housing Market Snapshot: Lancaster County, SC June 2020

• Closed Sales: up 17.7% year-over-year 
• Homes Sold: 219 in June 2020 versus 186 in June 2019
• Pending Sales: up 36.1% year-over-year 
• New Listings: up 6.7% year-over-year 
• Inventory of Homes: down 36.9% year-over-year
• Months Supply of Homes: down 42.9% to 1.6 months supply of homes compared with 2.8 months supply in June 2019
• Days on Market: 47 days in June 2020 versus 49 days in June 2019
• Average Sale Price: up 12.7% to $349,952 and up 9.7% year-to-date
• Median Sale Price:  up 7.9% to $341,044 and up 6.1% year-to-date
• Home Showings: up 8.7% year-over-year

 

Housing Market Snapshot: York County, SC June 2020

• Closed Sales: down 13.5% year-over-year 
• Homes Sold: 474 in June 2020 versus 548 in June 2019
• Pending Sales: up 8.4% year-over-year 
• New Listings: down 18.2% year-over-year 
• Inventory of Homes: down 54.3% year-over-year
• Months Supply of Homes: down 54.3% to 1.1 months supply of homes compared with 2.5 months supply in June 2019
• Days on Market: 40 days in June 2020 versus 41 days in June 2019
• Average Sale Price: up 2.2% to $323,328 and up 4.2% year-to-date
• Median Sale Price: up 5% to $297,500 and up 4.2% year-to-date
• Home Showings: down 14.3% year-over-year

 

 

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

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE. 

 

 

MEDIAN HOME SALE PRICE TRENDS IN THE CHARLOTTE REGION

 

 

 

  LOOKING FOR YOUR DREAM HOME IN THE CHARLOTTE AREA? 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

 

 WONDERING WHAT YOUR CHARLOTTE AREA HOME IS WORTH IN TODAY’S MARKET? 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

WONDERING IF SUMMER 2020 IS A GOOD TIME TO SELL YOUR CHARLOTTE REGION HOME?

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE 

 

 

This Charlotte region housing market update for June 2020 is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area residential real estate experts serving Charlotte area home buyers and sellers for 20+ years.

 

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

 “The Right Broker Makes All The Difference.”