Charlotte Region Weekly Home Sales Update: Week Ended May 9-2020

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

 

Charlotte Region Weekly Housing Market Activity Report:

Weeks Ended May 2 And May 9

 

Latest news on the Charlotte region real estate market, how corona visus is affecting the market and what it means for you...

 

Corona virus impact for the weeks ended May 2nd and May 9th showed continued year-over-year decreases in new listings, in inventory, and closed sales. On the "good news" side,  pending sales increased 14%year-over-year.  Home showings were also down in each of these weeks year-over-year. However, home showings increased week-over-week and that is a good sign. The increase more than likely is due to the lifting of in-person showing restrictions in Mecklenburg County as of May 1st.

 

Charlotte Region Home Sales Report April 2020Meantime, inventory remained tight with less than two months supply of homes for sale for the month of April. 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 can be expected to put a strain on home sales. Demand for homes and razor-thin inventory saw both average and median home sale prices in the Charlotte region were higher in April year-over-year and year-to-date. 

 

The number of homes temporarily taken off the market or withdrawn decreased the week ended May 9th compared with the prior week. 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-in-place orders were put in place, especially in Mecklenburg County where person-to-person showings were prohibited until May 1st. 

 

Weekly Market Activity Report For The Week Ended May 2:

  • New Listings; decreased 24.3% year-over-year to 1,162
  • Pending Sales: increased 3.3% year-over-year to 1,258
  • Inventory: decreased 21.5% year-over-year to 7,993
  • Closings: 1,279 (single family and condos/townhomes)
  • Temporarily Off Market: 98 (single family and condos/townhomes)
  • Withdrawn: 164 (single family and condos/townhomes)
  • Home Showings: 16,560 (versus 22,068 for the same week one year ago)

 

Weekly Market Activity Report For The Week Ended May 9:

  • New Listings: decreased 18.5% year-over-year to 1,234
  • Pending Sales: increase 14% year-over-year to 1,332
  • Inventory: decreased 23.4% year-over-year to 7,782
  • Closings: 851 (single family and condo/townhomes)
  • Temporarily Off Market: 81 (single family and condos/townhomes)
  • Withdrawn: 146 (single family and condos/townhomes)
  • Home Showings: 19,374 (versus 21,831 for the same week one year ago)

 

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?

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MEDIAN HOME SALE PRICE TRENDS IN THE CHARLOTTE REGION

 

 

 

 

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This weekly Charlotte, NC region weekly 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.

 

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, RE/MAX Broker, Realtor

 

 

 

 

 

 

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
2,134,929
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - the focus on most webinars now seems to be focusing on getting back to work and will see that ripple to real estate.

 

May 19, 2020 09:20 AM #3
Rainmaker
3,156,785
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Good afternoon Nina Hollander , as always i love your reports. I hope things are well with you. 

May 19, 2020 09:25 AM #4
Rainmaker
1,366,784
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - Going back to the problem of inventory, are you finding more homes Temp off-market or withdrawn than this time last year? 

You always have a good handle on all your communities and Charlotte is no exception. 

May 19, 2020 09:46 AM #5
Rainmaker
4,816,596
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good afternoon Nina,

Another excellent curent  look at the Charlotte region marketplace!  Wishing you an excellent day.  A

May 19, 2020 10:04 AM #6
Rainmaker
3,402,473
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina, is that your Downtown area in the pciture?  I never knew, I guess I should come visit sometime.

 

May 19, 2020 11:02 AM #7
Rainmaker
2,722,530
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

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

May 19, 2020 02:13 PM #8
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... people are anxious to get back to work, to school, to a more normal routine. I can't blame them.

May 19, 2020 02:17 PM #9
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk thanks, Scott... appreciate the nice comment. Things are fine at my end all things considered... but ready to get back to a more normal routine.

May 19, 2020 02:18 PM #10
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® hi Sheri... I haven't done an analysis of TOM's and withdrawns in detail... but it's on my list of things to do to look at March and April 2020 versus March and April 2019. I've certainly sensed more back on market homes early on in this quarantine where lots of people decided not to go through with a contract due to all the uncertainty. In my case, people put off listing until things settled down, so they can't be called TOM's or withdrawns and that's a number that's impossible to capture.

May 19, 2020 02:21 PM #11
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel thanks Alexandra... we've had two days of downpours and Wednesday will be the same into Thursday. It's been like 2 inches of rain a day! I'm tired of it. (So is Bingo... dog park is a mud puddle.)

May 19, 2020 02:22 PM #12
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm hi Will... technically, Charlotte does not have a downtown... we have an uptown... and if one can't remember that they can call it City Center. But yes, to answer your question, that is Charlotte's "downtown."

May 19, 2020 02:23 PM #13
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat hi Myrl... as always, I appreciate your taking time to pop by and to leave me a comment!

May 19, 2020 02:24 PM #14
Ambassador
3,251,517
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

You know, by now, that I am an avid reader of your market reports. What I find interesting is that you seem to slip something new into every report that enhances the end product. Keep up the good work...

Happy Tuesday my friend Nina Hollander 

May 19, 2020 04:02 PM #15
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS thanks, Paul, for noticing. I keep trying to make things interesting and not "same old, same old." Happy Wednesday to you!

May 20, 2020 04:45 AM #16
Rainmaker
2,877,391
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Charlotte is such a beautiful place to call home and I feel lucky that I get to learn about it on a daily basis through your blog!

May 20, 2020 06:14 AM #17
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... what a nice thing to say. Charlotte is a beautiful place to call home and not once in the 21 years since we moved here have we regretted that decision!

May 20, 2020 06:17 AM #18
Rainmaker
1,177,846
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is a great overview of the Charlotte housing market and a good insight into how the current pandemic is affecting the market. These are strange times.

May 20, 2020 01:19 PM #19
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jane Peters Thanks, Jane... probably the most important thing we can do these days is communicate the facts as we know them to our clients to keep them from making rash decisions based on generic headlines.

May 20, 2020 01:53 PM #20
Rainmaker
2,175,286
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander - Your latest Housing Market Review is very thorough and important too! Times are a changing and the more you can help consumers understand these changes, the better for all! 

Great job!

May 20, 2020 04:37 PM #21
Rainmaker
3,442,720
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP thank you, Patricia, for that "atta girl" comment. I agree... things are changing quickly and it's important for us to stay on top of them and to communicate them clearly to our clients.

May 21, 2020 06:26 AM #22
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