Charlotte Region Housing Market Report: Two Weeks Ended March 21

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

 

Charlotte Region Weekly Housing Market Activity Report:

Weeks Ended March 14 And March 21

 

Latest news on how COVID-19 is affecting the Charlotte region real estate market and what it means for you...

During the first two weeks of March, COVID-19 concerns did not appear to significantly impact the Charlotte region's housing market. During the third week ending March 21st, 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. As this is normally the beginning of our spring selling season in "normal times," we would expect new listings and pending sales to increase at a greater rate. Closings appeared to hold their own.

 

However, we did see more homes withdraw from the market or go off the market temporarily than in the prior week. This may be a harbinger of things to come once the full impact of shelter-in-place orders take effect in coming weeks. The shelter-in-place order for Mecklenburg County (includes Charlotte, Pineville, Matthews, Mint Hill, Davidson, Huntersville, Cornelius) did not go into effect until March 26th. The shelter-in-place order for North Carolina went into effect on March 30th and will be in place till the end of April.

 

 

Weekly Market Activity Report For The Week Ending March 14:

  • New Listings increased 17.9% year-over-year to 1,429
  • Pending Sales increased 24.5% year-over-year to 1,341
  • Inventory decreased 28.1% year-over-year to 7,129
  • Closings: 1,099 (single family and condo/townhomes)
  • Temporarily Off Market: 66
  • Withdrawn: 120

 

Weekly Market Activity Report For The Week Ending March 21:

  • New Listings increased 6.8% year-over-year to 1,447
  • Pending Sales increased 0.7% year-over-year to 1,175
  • Inventory decreased 25.7% year-over-year to 7,348
  • Closings: 1,203 (single family and condo/townhomes)
  • Temporarily Off Market: 152
  • Withdrawn: 158

 

 

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?

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This weekly Charlotte, NC region housing 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 metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

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 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
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 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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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
2,139,166
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina Hollander - Interesting.  What if all of this temporarily off the market come back on after this is over?  Worth noting.

Mar 30, 2020 10:33 AM #1
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... that is the intent for TOM listings... that they come back on market at the appropriate time. At the end of the day, we are so tight on listings, I'm not concerned.

Mar 30, 2020 10:37 AM #2
Ambassador
3,256,369
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

It looks like your areas are headed in the right direction...

I hope the upcoming  week is safe For you Nina Hollander 

Mar 30, 2020 11:15 AM #3
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS thanks, Paul. Meantime, check in with me in about two weeks when we can see what all the shelter-in-place orders do to our market. Here in Charlotte we cannot show homes or meet in person with clients. 

Mar 30, 2020 01:21 PM #4
Rainmaker
4,822,951
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Your safety and health is more important than any real estate sale. I keep reading news that are positive. And we will all come out this better than ever. A

Mar 30, 2020 02:22 PM #5
Rainmaker
4,319,091
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, good to point out differences in your Charlotte market once the virus started affecting the housing market.

Mar 30, 2020 04:26 PM #6
Rainmaker
3,341,640
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina, it was not the virus it was the Media Blitz now I am sure it will be a different story in another couple weeks... anyway I will write a post about it and you will agree with me, Endre

Mar 30, 2020 10:39 PM #7
Rainmaker
3,163,480
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

I've seen the market is slowing down, but not enough to worry about.  We now have a new Covid-19 rider.  Hopefully, by the end of April this shall pass.  Not likely, but I suspect is will by mid May.

Mar 31, 2020 02:22 AM #8
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray good morning, James. We have a rider as well, but now they are also talking about disclosures and indemnification if someone catches the virus as a result of showings.

Mar 31, 2020 04:32 AM #9
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. good morning, Endre... I was sitting here trying to think of a time you wrote something about what's happening in the world that I didn't agree with you. And I couldn't come up with an instance. :)

Mar 31, 2020 04:34 AM #10
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel amen to that, Alexandra. I keep seeing people list their homes... and I keep wondering why they don't wait a few weeks. My experience is that most people won't buy a home virtually. And I don't know why people want to take a risk to have strangers coming into their homes who might be a carrier with no symptoms.

Mar 31, 2020 04:36 AM #11
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox good morning, Joan... thus far, this virus has only increased the number of homes coming off the market that were listed prior to the outbreak... I'm not sanguine that we won't see more issues such as fewer pending sales in the next couple of weeks.

Mar 31, 2020 04:37 AM #12
Rainmaker
2,884,463
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Hopefully, the people that are worried about the state of the market currently will be prepared for the boom.

Mar 31, 2020 06:11 AM #13
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... I'm not worried about people being ready for a boom... more about people who might have a hard time waiting it out for a boom.

Mar 31, 2020 06:35 AM #14
Rainmaker
5,774,891
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Nina, for sharing your local real estate reports.

Mar 31, 2020 07:06 AM #15
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley thanks, Roy, for stopping by. Trust you are not getting too stir-crazy... I know that you and Dolores like to be up and about.

Mar 31, 2020 07:17 AM #16
Rainmaker
2,725,949
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Home buyers and sellers in Charlotte are sure to appreciate your market report, Nina.

Mar 31, 2020 09:42 AM #17
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat hi Myrl... no doubt people are all very interested in knowing how the corona virus is impacting home values... whether buying or selling. Too early to tell... but I'm watching the market very closely.

Mar 31, 2020 12:44 PM #18
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