Charlotte region ended 2019 as a seller's market and has remained a seller's market in the first three months of 2020 with inventory remaining extremely tight, dropping 25.3% in March 2020 compared with March 2019.
The impact of the COVID-19 pandemic was not yet felt in March, but we are prepared to see some impact in April once the effect of shelter-in-place orders can be measured.
Lack of inventory resulted in higher home sale prices year-over-year. Average sale prices increased 8.7% to $315,243 and median sale prices increased 11.3% year-over-year to $271,500. Both average and … (14 comments)
Charlotte region ended 2019 as a seller's market and the first month of 2020 kept that seller's market going with inventory remaining extremely tight, dropping 28.1% compared with January 2019.
Lack of inventory resulted in higher home list and sale prices year-over-year. Average sale prices increased 10.4% to $297,821 and median sale prices increased 10.4% year-over-year to $252,000.Closed sales increased 6.8%, while pending sales were up 26.7% year-over-year in January, starting the year on a high note.
Homes continue to sell quickly with average days on market 47 days, down 4 days from one year ago. … (14 comments)
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