Charlotte Region April 2020 Home Sales: Largest Dip Since June 2009

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

 

Charlotte Region's Home Sales In April 2020 Saw Their Largest Dip Since June 2009 Due To Corona Virus

 

Latest news on how Corona Virus impacted the Charlotte region's real estate market in April and what it means for you...

 

Normally, the month of April in the 16-county Charlotte region is one of our busiest home sales months of the year. Corona virus restrictions on showings and stay-at-home orders from late March through April significantly impacted home sales in the Charlotte region; especially so in Mecklbenburg County, where Charlotte is located and where we saw the most onerous restrictions on home showings.

  • Closed Sales: down 20.8% year-over-year and down 16.9% month-over-month
  • Homes Sold: 3,534 in April 2020 versus 4,464 in April 2019
  • Pending Sales: down 17.6% year-over-year and down 15.7% month-over-month
  • New Listings: down 26.6% year-over-year and down 28.2% month-over-month
  • Inventory of Homes: down 24.9% year-over-year
  • Months Supply of Homes: 1.8 months supply of homes compared with 2.5 months supply in April 2019
  • Days on Market: 38 days in April 2020 versus 47 days in April 2019
  • Average Sale Price: up 7.1% to $325,403
  • Median Sale Price: up 8.1% year-over-year to $275,000
  • Home Showings: down 53.3% year-over-year

 

Charlotte Region Home Sales Update: April 2020

 

 

How Corona Virus Impacted Mecklenburg County, NC April Sales

  • Closed Sales: down 25.9% year-over-year 
  • Homes Sold: 1,370 in April 2020 versus 2,041 in April 2019
  • Pending Sales: down 31.5% year-over-year 
  • New Listings: down 35.3% year-over-year 
  • Inventory of Homes: down 26.6% year-over-year
  • Months Supply of Homes: 1.5 months supply of homes compared with 1.9 months supply in April 2019
  • Days on Market: 32 days in April 2020 versus 38 days in April 2019
  • Average Sale Price: up 11.4% to $379,451
  • Median Sale Price: up up 13.9% to $305,425
  • Home Showings: down 64% year-over-year

 

How Corona Virus Impacted Union County, NC April Sales

  • Closed Sales: down 28.9% year-over-year 
  • Homes Sold:  297 in April 2020 versus 418 in April 2019
  • Pending Sales: down 22% year-over-year
  • New Listings: down 35.9% year-over-year 
  • Inventory of Homes: down 29.8% year-over-year
  • Months Supply of Homes: 1.6 months supply of homes compared with 2.2 months supply in April 2019
  • Days on Market: 38 days in April 2020 versus 60 days in April 2019
  • Average Sale Price: up 5% to $384,252
  • Median Sale Price: up 4.8% to $325,000
  • Home Showings: down 55.2% year-over-year

 

How Corona Virus Impacted Lancaster County, SC April Sales

  • Closed Sales: down 13.6% year-over-year 
  • Homes Sold: 133 in April 2020 versus 154 in April 2019
  • Pending Sales: up 5.5% year-over-year 
  • New Listings: down 7.3% year-over-year 
  • Inventory of Homes: down 23.8% year-over-year
  • Months Supply of Homes: 2.1 months supply of homes compared with 2.8 months supply in April 2019
  • Days on Market: 45 days in April 2020 versus 64 days in April 2019
  • Average Sale Price: up 7.8% to $311,484
  • Median Sale Price:  up 2.1% to $296,500
  • Home Showings: down 54.1% year-over-year

 

How Corona Virus Impacted York County, SC April Sales

  • Closed Sales: down 15.4% year-over-year 
  • Homes Sold: 405 in April 2020 versus 479 in April 2019
  • Pending Sales: down 2.7% year-over-year and down 15.7% month-over-month
  • New Listings: down 17.1% year-over-year and down 28.2% month-over-month
  • Inventory of Homes: down 24.4% year-over-year
  • Months Supply of Homes: 1.8 months supply of homes compared with 2.2 months supply in April 2019
  • Days on Market: 39 days in April 2020 versus 48 days in April 2019
  • Average Sale Price: up 6.6% to $305,154
  • Median Sale Price: up 4.2% to $273,500
  • Home Showings: down 41.7% year-over-year

 

 

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

 

 

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This Charlotte region housing market update for April 202o 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
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs hi Michael... we are a huge metro region in two states, no less. I normally just focus on the four counties where I do most of my sales. But I also sell in several other adjoining counties. It's a lot of information to keep track of for clients.

May 14, 2020 12:34 PM #9
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... we can only hope. On the good news side, demand for homes remains strong... now we just need inventory to support the demand.

May 14, 2020 12:35 PM #10
Ambassador
3,975,548
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina slow sales are going to continue if we don't open things back up again.  I understand the need to take precautions with the COVID-19 Virus, but we are going to start many casualties if we continue with this shutdown, and Real Estate will feel the impact for sure.

May 14, 2020 01:06 PM #11
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto hi George... you are spot on. Right now sales have been down due to showing restrictions and people staying at home. But if the economy doesn't open up sales will stay down for a totally different reason.

May 14, 2020 01:16 PM #12
Rainmaker
3,156,130
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I Love how you mention "What it means for you" Nina Hollander . It is similar here

May 14, 2020 03:59 PM #13
Rainmaker
2,721,919
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Charlotte Region home buyers and sellers are sure to value your real estate market report, Nina.

May 14, 2020 04:46 PM #14
Ambassador
3,249,952
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I don't even want to think of the 2009 epic...

Happy Thursday Nina Hollander 

May 14, 2020 10:22 PM #15
Rainmaker
3,156,899
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Things were going great until the first of March.  Now, things are starting to pick up again, but slow.  

May 15, 2020 01:05 AM #16
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk Thanks, Scott... I suspect many of our markets are very similar in terms of April sales results.

May 15, 2020 05:54 AM #17
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat good morning, Myrl... right now, buyers and sellers should not be making life-altering decisions without facts.

May 15, 2020 05:55 AM #18
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS you and me both, Paul. 2009 was a very difficult year. Happy Friday and weekend-to-come to you!

May 15, 2020 05:56 AM #19
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray hi James, we actually had a good March here and with the strong first quarter showing we are year-to-date in a relatively positive situation. But if May number don't turn around after such a bad April, year-to-date numbers will also start slipping.

May 15, 2020 05:57 AM #20
Rainmaker
3,553,361
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. As we read reports from all over the country the one thing I am sure of is we will survive. Enjoy your day!

May 15, 2020 06:03 AM #21
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin good morning, Wayne... I've always known we would survive... this issue is explaining to our clients just how and when.

May 15, 2020 06:08 AM #22
Rainmaker
3,329,796
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Nina, I would think that all markets are feeling this same challenge. It's good that you are keeping track of these reports for the consumers knowledge, but it will get better!

May 15, 2020 06:22 AM #23
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila and Larry... it has to get better... otherwise we are really in a big hole. And I don't want to "go there" in terms of my thinking.

May 15, 2020 06:36 AM #24
Rainmaker
1,267,665
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I like your approach, Nina Hollander ... concise, precise, factual.  People must be educated and have the facts to make sound decisions.  With your market reports, you assist them in each.  

Gene

May 15, 2020 10:22 AM #25
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi hi Gene... I learned a long time ago that most people go googly-eyed on you when you start providing lots of statistics... it's really important to make it easy for them to read and digest.

May 15, 2020 10:29 AM #26
Rainmaker
5,765,634
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Friday afternoon, Nina. Have a nice evening and a very special weekend.

May 15, 2020 12:03 PM #27
Ambassador
4,203,955
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Nina:

It's always interesting to read about what's going on in other parts of the country, especially those markets that have been really busy.  We have also seen drops in sales from last month and a year ago in some communities.

Jeff

May 16, 2020 11:52 AM #28
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