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- Withdrawn: 120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- Withdrawn: 158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
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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.
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