Danielle Edwards

RE/MAX Executive

Danielle Edwards with RE/MAX Executive
  • HOME
  • SEARCH
  • FEATURED LISTINGS
    • For Sale
    • Closed Portfolio
    • MLS FEED
    • VIDEOS
  • COMMUNITY INFO
    • About Charlotte – TOP 10 REASONS TO MOVE TO CHARLOTTE
    • WHERE TO EAT
    • Area Communities
    • OAKBORO NC Real Estate
    • TOUCHSTONE VILLAGE | WILSHIRE Real Estate
    • Local Government
    • Driving Information
    • Emergency Services
    • Pet Information
    • Schools
    • Tax Information
      • Charlotte Taxes
      • Cornelius Taxes
      • Davidson Taxes
      • Huntersville Taxes
      • Matthews Taxes
      • Mecklenburg Taxes
      • Pineville Taxes
    • Transportation
    • Trash and Recycling
    • Utilities
    • Voter Registration
  • BUYERS
    • How to buy a home in North Carolina – Buyers Agent
    • HOME BUYING PROCESS
    • LEARN THE MARKET
    • MORTGAGE
    • FIRST TIME HOME BUYER GLOSSARY
    • Neighborhood Analyzer
  • SELLERS
    • SELLER HOME CHECKLIST
    • Sell Your Home Fast in Charlotte with Danielle Edwards
    • Neighborhood Analyzer
  • BLOG
  • YOU TUBE
  • ABOUT DANIELLE
    • BIO / AWARDS
    • My Testimonials
    • Leave a Review for Danielle Edwards | Your Experience Matters
    • FIVE STAR AWARD
    • Contact

Charlotte Real Estate Market Report

July 16, 2020 by Danielle Edwards

Charlotte Real Estate Market Report

Market home sales show early signs of recovery for Charlotte Real Estate

Is the Charlotte Real Estate market recovering? As businesses across the region continue to adjust to reopening, home sales across Charlotte show the housing market in the early stages of recovery. According to data from Canopy MLS, home sales in June were down only 1.8% compared to June 2019. 4,938 properties sold in June 2020. Closed sales compared to May 2020 increased 37.2% with 340 more transactions completed than the previous month.

Pending contract activity

Buyer interest and demand for homes in the region is returning to pre-pandemic levels. Pending contracts rose significantly by 26.8 percent year-over-year with 6,174 properties going under contract in June. Contract activity compared to May 2020 was also positive and rose 4.2 percent.

Charlotte Real Estate Market
2020 Canopy Realtor® Association/Canopy MLS President John Kindbom said, “The large bump in pending contracts this past month compared to last year shows that buyer demand is healthy and was held back simply due to COVID-19. The last two months were certainly challenging. There are still challenges ahead. But we can already see the market is improving and will likely be a key driver in our economic recovery.” Prices rose during the month of June. The average list price ($366,537) rose 10.9 percent compared to last year but decreased 2.4 percent compared to May 2020. The median sales price ($284,900) and the average sales price ($333,938) rose 7.5 percent and 3.5 percent, respectively. The original list price to sales price ratio was at 97.6 percent, showing sellers are getting close to their asking prices.

 

New listing activity

 

New listing activity continues to lag and signals that seller confidence is recovering at a slower pace. Year-over-year new listings were down 8.5 percent with 5,365 new listings added to inventory during the month. Compared to May 2020, new listing activity rose 3.8 percent as sellers continue to adjust to virtual showings and opening their homes to buyers in the safest manner possible under current and changing conditions.

Kindbom added, “Realtors® certainly understand the hesitancy many sellers have in listing a home during what seems to be the height of a pandemic, even though agents continue to use every precaution to ensure safe showings. However, with inventory at the lowest level recorded, there’s a lot of opportunity for sellers who are ready to list. In fact, new listings get increased visibility and are spending less time on market.”

Inventory in Charlotte Region

Inventory across Charlotte declined 46.7 % year-over-year to 5,701 active listings at report time. This pushed months of supply to 1.3 months in June. This time last year the market had nearly three months of supply and 10,698 active listings.
Homes continue to sell briskly, which is another hallmark of a strong seller’s market. Days on market, the metric that accrues for “Active” and “Under Contract-Show” statuses, averaged 38 days in June 2020 compared to 40 days in June 2019. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 89 days.

Charlotte Real Estate Market
The Canopy Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from Canopy MLS. The Charlotte Metro region, which this report is based on, includes 12 counties in North Carolina and four counties in South Carolina.

For more information on this report and data please contact Danielle Edwards with RE/MAX Executive.

 

 

 

 

704-604-2999

drivendanielle@gmail.com

www.soldondanielle.com

Filed Under: Advice, Featured Content, Market Conditions Tagged With: buying a home, charlotte market statistics, Charlotte realtor, listing agent, realtor, remax, remax charlotte, selling your home, south charlotte, Southpark

Featured listings

$417,000
426 Kenwood View
Sagecroft - 4BR, 3.1BA
$299,000
3210 Selwyn Farms Lane Unit 7
Hunters Run - 1BR, 1BA
$478,000
7417 Shadowlake Drive
Shadow Lake - 4BR, 3BA
$739,000
2342 Wesley Landing Road
The Courtyards at Wesley Chapel - 3BR, 3BA
$1,100,000
1233 Weymouth Lane
Bellemeade - 4BR, 3.1BA
Google Reviews
25 Home Preservation Tips by Danielle Edwards
Subscribe to my YouTube Channel

Contact

Danielle Edwards
RE/MAX Executive
12104 Copper Way Ste. 100
Charlotte, NC 28277
704-276-6882
info@soldondanielle.com

Get Social

LinkedIn  Facebook  Instagram

RE/MAX Executive

© Copyright 2014 Charlotte Real Estate · All Rights Reserved · Powered by Charlotte Real Estate Website Services.


Log-In