How Has COVID-19 Impacted Charlotte Region's Housing Week of 4/18/2020

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5n5T

 

Charlotte Region Weekly Housing Market Activity Report:

Weeks Ended April 11 And April 18

 

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

 

The impact of shuttered businesses and shelter at home orders due to COVID-19 became more apparent in Charlotte region's housing market activity for the weeks ended April 11th and April 18th compared with the last half of March and the first half of April. 

 

COVID-19 impact for the weeks ended April 11th and April 18th showed continued year-over-year decreases in new listings, in pending sales, in inventory.  Meantime, inventory remained tight with less than two months supply of homes for sale. For a market that was already low on inventory at the height of its spring selling season, continued decreases in new listings and in inventory as the impact of COVID-19 is more fully realized can be expected to put a strain on home sales.

 

The number of homes temporarily taken off the market or withdrawn slowed down the week ended April 18th compared with the prior three weeks. It's probably fair to assume that home sellers who were inclined to take their homes off the market did so relatively quickly once shelter-place orders were put in place, especially in Mecklenburg County where person-to-person showings were prohibited. In Mecklenburg County shelter-in-place orders were extended from April 29th through May 8th.

 

 

Weekly Market Activity Report For The Week Ended April 11:

  • New Listings: decreased 32% year-over-year to 952
  • Pending Sales: decreased 24.8% year-over-year to 863
  • Inventory: decreased 20.8% year-over-year to 7,942
  • Closings: 797 (single family and condos/townhomes)
  • Temporarily Off Market: 117 (single family and condos/townhomes)
  • Withdrawn: 148 (single family and condos/townhomes)

 

Weekly Market Activity Report For The Week Ended April 18:

  • New Listings: decreased 24.6% year-over-year to 943
  • Pending Sales: decreased 16.7% year-over-year to 946
  • Inventory: decreased 20.9% year-over-year to 8,003
  • Closings: 1,030 (single family and condos/townhomes)
  • Temporarily Off Market: 85 (single family and condos/townhomes)
  • Withdrawn: 131 (single family and condos/townhomes)

Charlotte Region 1-Minute Housing Market: 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 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:

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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
2,720,092
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Charlotte home buyers and sellers are sure to appreciate your real estate market reports, Nina.

Apr 27, 2020 11:12 AM #1
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat hi Myrl... nice to see you first thing this new week... trust you are looking forward to a great week ahead.

Apr 27, 2020 11:15 AM #2
Rainmaker
1,733,078
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA, ABR, SRS

Thank you for keeping us posted and up to date. Best of luck!

Apr 27, 2020 11:38 AM #3
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost thanks, Jeremy for stopping by and for taking the time to leave me a comment. Wishing you a great week ahead.

Apr 27, 2020 12:19 PM #4
Rainmaker
3,154,094
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Just a temporary slow down.  I do believe it will take a little longer to get things rolling again, what do you think?

Apr 28, 2020 01:11 AM #5
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray good morning, James... our stay at home orders were extended by 10 days to May 8th... it could happen again. So hard to say... the real issue underlying demand will be the level of unemployment that hangs on.

Apr 28, 2020 04:26 AM #6
Ambassador
3,247,043
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Those are some very outstanding numbers...

Happy Tuesday Nina Hollander 

Apr 28, 2020 05:23 AM #7
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul... outstanding yes in not such a great way for what should be the height of our spring selling season.

Apr 28, 2020 05:40 AM #8
Rainmaker
1,365,337
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - I am not doing any reports on 1st Q stats. Sedona and the Verde Valley had an outstanding quarter but buyers and sellers want to know how the market is now and going forward.  Your Charlotte region report for 4/18 is realistic and is what those in the market are looking for.  Nice job. 

Apr 28, 2020 08:13 AM #9
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® hi Sheri... I thought about not doing Q1 reports but then decided since I have a consistent body of work quarter after quarter I wanted to not miss a quarter of updates all of a sudden... especially as it will be another 2+ months before the next quarterly numbers will be out.

Apr 28, 2020 11:25 AM #10
Rainmaker
2,172,627
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander - Honesty can't be faked when it comes to consumers. This is a real marekting report without all the hoopla of how great things are. I am glad you didn't skip it because this could be the most important marketing report that will be considered when a Seller decides to list with you. 

Apr 28, 2020 12:04 PM #11
Rainmaker
3,438,242
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP hi Patricia... I'm trying to put out realistic assessments of the market each week. People need to know what's going on -- the good and the bad.

Apr 28, 2020 12:05 PM #12
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Rainmaker
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