Charlotte, NC Region Monthly Real Estate Report: February 2020

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Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5mBd

 

Charlotte, North Carolina Region Real Estate Report:

February 2020

 

Latest news on the Charlotte region real estate market and what it means for you...

 

Charlotte region ended 2019 as a seller's market and has remained a seller's market in the first two months of 2020 with inventory remaining extremely tight, dropping 31.3% in February 2020 compared with February 2019.

 

Lack of inventory resulted in higher home list and sale prices year-over-year. Average sale prices increased 9% to $304,569 and median sale prices increased 11.9% year-over-year to $262,640. Both average and median sale prices also increased month-over-month.

 

Closed sales increased 3.6%, while pending sales were up 24.8% year-over-year in February. Year-to-date 2020, closed sales have increased 7.7% and pending sales increased 21.3% year-over-year.

 

Homes continue to sell quickly with average days on market 50 days, down 4 days from one year ago. Cumulative days on market were down 4 days to 60 year-over-year. The days from list to close dropped 7 days to 99 year-over-year.

 

The housing affordability index continued to decrease, as well ~ down 10.9% year-over-year.

 

Months supply of homes remained very low at 1.5 months (down 40% year-over-year from 2.5 months one year ago) and even lower for homes priced under $200,000.

 

 

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

 

 

 Charlotte Region Housing Market Highlights

February 2020 versus February 2019

 

 Charlotte NC Region Housing Market Update February 2020

 

 

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? 

   

 

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

 

 

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE HERE

 

 

 

This monthly Charlotte, NC region housing market update is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, 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 metro area, 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."

 

 

Great Homes In Charlotte

     

 Originally published at: https://www.greathomesincharlotte.com

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
2,682,974
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Charlotte home buyers and sellers will appreciate your real estate market report, Nina.

Mar 14, 2020 03:35 PM #1
Rainmaker
2,826,391
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It will definitely be really interesting to see what the market does during the Quarantine and social distance era

Mar 14, 2020 09:58 PM #4
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat good morning, Myrl... thanks for the pop-by... wishing you a lovely Sunday.

Mar 15, 2020 04:08 AM #5
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Laura Cerrano good morning, Laura... I suspect the impact on real estate will be very local just as most things are.

Mar 15, 2020 04:08 AM #6
Rainmaker
3,491,035
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. The only thing in shorter supply than homes in your area on a national basis is toilet paper! I could not resist! Enjoy your day!

Mar 15, 2020 04:35 AM #7
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ha ha, Wayne. Fortunately, I have no shortage of paper towels or toilet paper in my household... I stock up whenever it's on huge sale. So now all I need to worry about is lack of inventory. :)

Mar 15, 2020 04:51 AM #8
Rainmaker
1,776,765
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

This is great news for sellers - we definitely need more inventory!  Keep the good news coming 

Mar 15, 2020 06:01 AM #11
Ambassador
866,146
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Good morning, Nina. Lack of inventory has certainly been driving the market this year. Approximatly how many homes do you currently have on the market?

Mar 15, 2020 06:20 AM #12
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe hi Lise... indeed, great news for sellers... many of who are still not "moved" to list their homes. 

Mar 15, 2020 06:24 AM #13
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Mimi Foster hi Mimi...as of end of February we had about 6,700 homes for sale in an area covering multiple counties in two states.

Mar 15, 2020 06:26 AM #14
Ambassador
3,940,253
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina this is valuable information for all area Buyers and Sellers.

Mar 15, 2020 04:11 PM #15
Ambassador
3,615,477
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I'm still not believing how crazy this market has been for the past few years - it may take the Coronavirus for us to pick up on some inventory but, I really don't even think that is going to happen. 

Great report, Nina! Hope you have a great week ahead.

Mar 15, 2020 10:11 PM #16
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto good morning, again, George. Thanks for stopping by... wishing you a terrific week ahead despite all the craziness out there.

Mar 16, 2020 04:36 AM #17
Rainmaker
3,376,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debe Maxwell, CRS thanks, Debe... not sure the coronovirus will speed up more properties coming on market... I suspect people  will shy away until there's more of a resolution... then again, what do I know? Crazy times for sure. Happy Monday!

Mar 16, 2020 04:37 AM #18
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Rainmaker
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