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The number of homes temporarily taken off the market or withdrawn slowed down the week ended April 18th compared with the prior three weeks.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- Withdrawn: 148 (single family and condos/townhomes)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- Withdrawn: 131 (single family and condos/townhomes)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
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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.
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