What Happened In Mecklenburg County's Housing Market In Qtr 3 - 2020?

By
Real Estate Agent with Coldwell Banker Realty

 

Mecklenburg County, NC Real Estate Report: 

3rd Quarter 2020

 

 

Latest news on the Mecklenburg County real estate market and what it means for you...

 

Third Quarter 2020 Mecklenburg County, North Carolina home sales kept the County a seller's market with just 1.4 months of inventory. Mecklenburg County includes the seven cities and towns of Charlotte, Pineville, Matthews, Mint Hill, Davidson, Huntersville, Cornelius.

 

During the third quarter of 2020, Mecklenburg County saw both inventory and months supply of homes decrease substantially compared with the third quarter of 2019. Both median and average sale prices increased during the third quarter of 2020 compared with the same time period in 2019. These price increases can be attributed to the razor-thin inventory. Days on market were less than one month at 27 days -- down 20% versus the same period one year ago. Mecklenburg County homes continued to sell quickly and closed sales in the third quarter of 2020 were up 9.3% compared to the same quarter one year ago.

 

 

Want to know what this would mean for your family if you decide to buy or sell a home in the Charlotte region?

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

 

 

Mecklenburg County Housing Market Highlights

Quarter 3, 2020 vs Quarter 3, 2019

 

Q3-2020 Mecklenburg County Real Estate Report 

 

 

In the Third Quarter of 2020, Mecklenburg County saw a:

  • 14% increase in average sale prices (to $387,674) year-over-year. 
  • 11.3% increase in median sale price (to $305,990) year-over-year. 
  • 45.2% decrease in inventory of homes for sale year-over-year with just 2,087 homes for sale.
  • 9.3% increase in closed sales year-over-year (6,432 closed sales).
  • 48.5% decrease in the months supply of homes (1.1 months supply) year-over-year.
  • Days on market year-over-year decreased 20% (27 days on market). 
  • 98.8% percent of original price received (up 1.6% versus the same quarter in 2019), indicating a small window of opportunity for buyers to negotiate on price.

 

  Median Sales Price Trends For Mecklenburg County Homes

 

 

 

 

 DETAILED REPORT FOR MECKLENBURG COUNTY HOUSING MARKET

 

Mecklenburg County, NC Q3-2020 Real Estate Report


 

 

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Search Mecklenburg Count Homes For Sale 

 

  

 

FIND OUT WHAT YOUR MECKLENBURG COUNTY HOME MAY BE WORTH IN TODAY'S MARKET 

 

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THE COLDWELL BANKER MARKETING ADVANTAGE

 

 

This quarterly Mecklenburg County housing market update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area residential real estate experts. We've been opening doors for Mecklenburg County home buyers and sellers for 20+ years.

 

If you're considering selling or purchasing a home in Mecklenburg County, I'd love an opportunity to earn your business, exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

 

Great Homes In Charlotte

 

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 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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Show All Comments
Rainmaker
3,436,056
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

Clever words Nina for the market now in Mecklenburg County Real Estate market...razor thin certainly describes this hectic time.

Oct 20, 2020 04:56 AM #5
Rainmaker
6,027,618
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks, Nina, for sharing this report.

Take care, be safe and have a great day.

Oct 20, 2020 04:56 AM #6
Rainmaker
3,082,996
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I wish just wondering what was going on in Mecklenburg and here it is, now I know!

Oct 20, 2020 06:10 AM #7
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... razor thin inventory describes almost every area of my market that I work.

Oct 20, 2020 06:15 AM #8
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Thanks to you, Roy Kelley , for stopping by this morning... wishing you a terrific Thursday.

Oct 20, 2020 06:15 AM #9
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England good morning, Brian... you are too funny! But I'm glad your curiosity was satisfied thie morning! :)

Oct 20, 2020 06:16 AM #10
Ambassador
3,400,766
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

What's a broker to do? 😃 Well the third quarter only had one failing grade which was inventory. The negative count on days in the market would usually be excellent. Nice report as always 👍👍👍
Have a happy Tuesday Nina Hollander 

Oct 20, 2020 06:25 AM #11
Rainmaker
1,577,249
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Nina Hollander, low inventory continues to be a challenge in many markets. Whether buying or selling a home in Mecklenburg County, you are the REALTOR® call.

Oct 20, 2020 06:39 AM #12
Rainmaker
4,474,787
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for Mecklenburg County, and it sure does look like the shortage of inventory is creating quite the demand.

Oct 20, 2020 07:27 AM #13
Rainmaker
128,443
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Great activity Nina Hollander  it looks like this is the time when sellers and buyers shouls be calling you.

Oct 20, 2020 07:50 AM #14
Rainmaker
2,277,734
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina Hollander - the challenge exists more than ever for those looking for entry level prices because that level keeps increasing.

Oct 20, 2020 08:31 AM #15
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS thanks, Paul... and it seems there won't be any change in the lack of inventory any time soon.

Oct 20, 2020 08:50 AM #16
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Beth Atalay thanks, Beth! It's a really tough market these days for buyers and in all price points.

Oct 20, 2020 08:51 AM #17
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox good morning, Joan... that demand is there for homes in every price point...and I don't see any change coming any time soon.

Oct 20, 2020 08:52 AM #18
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Rocky Dickerson hi Rocky... great time for sellers to list and great time for buyers to lock in those low interest rates.

Oct 20, 2020 08:53 AM #19
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... that starter home market is so difficult right now... the only mitigating factor are the low interest rates.

Oct 20, 2020 08:54 AM #20
Rainmaker
5,047,990
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

you shared another exemplary report of Meckelburg County.  We just got back in town and hour and a half ago...Good to be home.  A

Oct 20, 2020 12:31 PM #21
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel hi Alexandra... while it's good to be home, trust you had a wonderful time.

Oct 20, 2020 12:52 PM #22
Rainmaker
3,464,215
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina forget the Report I want that kitchen and dining area!! is that house still available?:)Endre

Oct 20, 2020 10:11 PM #23
Rainmaker
3,607,522
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. good morning, Endre... I'm afraid that house is long gone... but if you're thinking about moving Charlotte-way, I know I can rustle up a kitchen you'd love! :)

Oct 21, 2020 04:21 AM #24
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