Luxury Housing Market Report For Charlotte Region: October 2020

By
Real Estate Agent with Coldwell Banker Realty

 

Latest news on Charlotte Region's luxury housing market ...

 

Charlotte Region's luxury housing market continued to strengthen in October 2020 year-to-date versus the same time frame in 2019, despite the ongoing pandemic.

 

For homes priced above $750,000, the Charlotte region saw both higher pending and closed sales, in spite of a 21.3% decline in inventory and a minimal increase in new listings of 3.4%. Days on market, both average and median, also were down year-over-year, as was the months supply of inventory. Luxury home sellers continued to see a higher price as a percent of listing price, as well.

 

 

 

 

Luxury Housing Market Snapshot:

Charlotte Region October 2020 

 

Charlotte Region Luxury Housing Market Update October 2020

 

 

 

Luxury Housing Market Snapshot: Charlotte Region October 2020 Year-To-Date

 

 

  • Homes Sold: 1,828 in October 2020 year-to-date, up 27.7%, versus 1,431 in October 2019

  • Pending Sales: 2,206 in October 2020, up 25.3% year-to-date, versus 1,760 in October 2019

  • New Listings: up 3.4% to 2,881 in October 2020 year-to-date versus 2,787 in October 2019

  • Inventory of Homes: down 21.3% to 851 in October 2020 year-date versus 1,081 in October 2019

  • Months Supply of Homes:  down 32.4% with 5 months supply of homes in October 2020 year-to-date versus 7.4 months supply in October 2019

  • Average Days on Market: 67 days in October 2020 year-to-date versus 77 days in October 2019 

  • Median Days on Market: 21 days in October 2020 year-to-date versus 35 days in October 2019

  • Average Sale Price: up 2.7% to $1,1,58,359 in October 2020 year-to-date versus $1,127,734 in October 2019

  • Median Sale Price: up 2% to $979,000 in October 2020 year-to-date versus $960,250 in October 2019

  • Median % Of List Price Received: up 0.8% to 97.1% in October 2020 year-to-date versus 96.3% October 2019

 

 

 

Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury 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  

 

 

 

MEDIAN SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION

 

  

 

 

 

LOOKING FOR YOUR LUXURY DREAM HOME IN THE CHARLOTTE AREA? 

 

 Looking for a luxury home in the Charlotte region?

 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

 

BUYERS ARE FINDING MORE SPACE IN THE LUXURY HOME MARKET

 

 

 WONDERING WHAT YOUR CHARLOTTE AREA HOME IS WORTH IN TODAY'S MARKET? 

 

 

What's My Home Worth?  

 

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

 

WHY SELLING YOUR HOME THIS FALL MIGHT BE YOUR BEST MOVE

 

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

 

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE 

 

 

 

 

This Charlotte region luxury housing market update for October 2020 is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area residential real estate experts serving Charlotte area luxury 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:

 "The Right Broker Makes All The Difference."

 

 

 

Read the original post at: www.GreatHomesInCharlotte.com

 

   

 

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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
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin good morning, Wayne... I'm hearing the same about New York City. And I know home prices in San Francisco have also softened.

Nov 27, 2020 05:20 AM #5
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 good morning, Sheila... Charlotte's luxury market is a very small percentage of our sales, but it's quite strong nonetheless.

Nov 27, 2020 05:20 AM #6
Rainmaker
5,534,451
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Nina Hollander that's interesting to see that your luxury home market begins in the midn$700k range.... in our area, that would be the starting point of a higher end home, but not luxury... 

Nov 27, 2020 05:30 AM #7
Rainmaker
3,201,023
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Luxury in Charlotte looks really nice!  Anyone that is looking for a luxury home in Charlotte should definitely give you a call.

Nov 27, 2020 05:36 AM #8
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Barbara Todaro good morning, Barbara... despite increasing home prices, Charlotte remains an "affordable" market. I remember the days when we started luxury housing at around $500K.

Nov 27, 2020 05:47 AM #9
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... the luxury market is a very small part of our overall market in the Charlotte region, but we do have some really beautiful properties that fall into this niche.

Nov 27, 2020 05:48 AM #10
Rainmaker
6,154,190
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will love your outstanding local real estate reports.

Enjoy the holiday weekend.

Nov 27, 2020 06:09 AM #11
Rainmaker
5,165,745
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Some areas have an even stronger luxury markets, and prices are going up.  The demand continues.  A

Nov 27, 2020 06:20 AM #12
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley thank you, Roy... but I could ask what "holiday" weekend. Sounds as if I'd be getting time off! :)

Nov 27, 2020 06:36 AM #13
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel hi Alexandra... there are many areas where luxury housing is the predominant housing... not so much in Charlotte. And our luxury housing begins at a lower price point than in many areas, as well. When we moved to Charlotte in 1989, we'd have been hard-pressed to find a home priced at $1 million.

Nov 27, 2020 06:38 AM #14
Rainmaker
4,555,657
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, love your market report on the luxury sector, and seems very similar to ours again!   

Nov 27, 2020 07:16 AM #15
Rainmaker
1,482,531
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - I always enjoy reading your market reports such as this one for the Charlotte region.  Your image of that luxury home is something that I would expect to see out of  SoCal or up here in Sedona!  It just shows the diverse architecture you can find in your area.  Happy Thanksgiving!

Nov 27, 2020 09:01 AM #16
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox hi Joan... well our markets really to track quite closely, in general, so not surprised if they do for the luxury segment, as well.

Nov 27, 2020 09:26 AM #17
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® hi Sheri... our architecture is very diverse in the Charlotte region and I've always loved that about our area.

Nov 27, 2020 09:26 AM #18
Rainmaker
2,896,850
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

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

Nov 27, 2020 12:41 PM #19
Ambassador
3,494,215
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I always enjoy looking at luxury and I thank you for showing me the Charlotte proof of luxury update 

Happy Friday Nina Hollander 

Nov 27, 2020 10:31 PM #20
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat good morning, Myrl... thanks for popping by. Trust you are enjoying the Thanksgiving weekend.

Nov 28, 2020 03:47 AM #21
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul... while luxury might not be a big part of our overall market, what we have can be pretty spectacular.

Nov 28, 2020 03:48 AM #22
Rainmaker
1,916,953
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

These are some pretty impressive numbers - thanks for the market update on Charlotte luxury

Nov 29, 2020 05:22 AM #23
Rainmaker
3,715,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe hi Lise... it doesn't seem so long ago that we have almost a two year inventory of luxury homes on our market... how times have changed!

Nov 29, 2020 05:23 AM #24
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