Charlotte Region Weekly Housing Market Activity Report:
Weeks Ended March 28 And April 4
Latest news on how COVID-19 is affecting the Charlotte region real estate market and what it means for you...
The impact of shuttered businesses and shelter at home orders due to COVID-19 became more apparent in Charlotte region's housing market activity for the week ending April 4th. While we saw little impact in the first half of March and just small "twinges" in the second half of March, there is no doubt that the Charlotte region's housing market was more significantly affected by COVID-19 as shelter-in-place orders took effect in late March.
In the first half of March, COVID-19 concerns did not appear to impact the Charlotte region's housing market. During the third and fourth weeks ended March 21st and March 28th, we saw more of an impact on new listings and pending sales year-over-year compared with the prior two weeks, which increased at a lower rate.
COVID-19 impact for the week of March 29th through April 4th showed continued decreases in new listings, in pending sales, in inventory, and increases in withdrawn listings. Closings continued to "hold their own," as pending contracts from February and early March went to settlement. With pending sales down for the weeks of March 28th and April 4th, we should expect to see a decrease in closings in April. Meantime, inventory remained tight in March 2020 with just 1.8 months supply of homes for sale.
Weekly Market Activity Report For The Week Ended March 28:
- New Listings: decreased 8.1% year-over-year to 1,267
- Pending Sales: decreased 15% year-over-year to 967
- Inventory: decreased 22.5% year-over-year to 7,697
- Closings: 1,236 (single family and condos/townhomes)
- Temporarily Off Market: 258
- Withdrawn: 172
Weekly Market Activity Report For The Week Ended April 4:
- New Listings: decreased 32.7% year-over-year to 1,026
- Pending Sales: decreased 41% year-over-year to 715
- Inventory: decreased 20.8% year-over-year to 7,859
- Closings: 1,283 (single family and condos/townhomes)
- Temporarily Off Market: 207 (single family and condos/townhomes)
- Withdrawn: 194 (single family and condos/townhomes)
Charlotte Region 1-Minute Housing Market Update: Video
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?
NO REASON TO LET SHELTER AT HOME ORDERS STOP YOU!
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,”
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
SEARCH ALL CHARLOTTE AREA HOMES FOR SALE HERE
This weekly Charlotte, NC region housing weekly market update 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."
Comments(20)