Charlotte Region Weekly Housing Market Activity Report:
Weeks Ended March 21 And March 28
Latest news on how COVID-19 is affecting the Charlotte region real estate market and what it means for you...
In the first half of March, COVID-19 concerns did not appear to significantly impact the Charlotte region's housing market. During the third week ended 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.
In the fourth week of March, we see a drop in new listings, as well as in pending sales both year-over-year and week-over-week. 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, more than likely due to the fact these most of these properties were under contract just prior to the outbreak of the virus.
However, we did see more homes withdraw from the market or go off the market temporarily than in the prior week and in the week before that. 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 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 condos/townhomes)
- Temporarily Off Market: 152
- Withdrawn: 158
Weekly Market Activity Report For The Week Ending 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Withdrawn: 172
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?
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 (16)Subscribe to CommentsComment