CHARLOTTE REGION 2021 REAL ESTATE REPORT
WHAT YOU NEED TO KNOW...
2021 saw the continuation of the strong housing market in the 16-county Greater Charlotte region. Buyer demand continued to exceed pre-pandemic levels straining inventory, sales momentum, and housing affordability throughout the year. Home sales in the Charlotte region reached their highest-ever levels in 2021. With a razor-thin 0.6 months of housing inventory at 2021 year-end, there is no doubt that the Charlotte region remained a seller's market in 2021. Inventory remains at historic lows in the Greater Charlotte region.
Although more houses were listed in 2021 than in 2020, inventory couldn't catch up with demand. The lack of inventory throughout 2021 was the most critical aspect of the Charlotte market, as it has been for the last several years. Availability of affordable homes is really at critical shortage. The supply of homes, or rather lack thereof, continued to drive Charlotte area home prices up to new records and the housing affordability index down as demand continued to outpace supply.
Distressed property sales represented less than 1% of Charlotte region home sales in 2021. Buyers looking for a bargain in this segment of the market were disappointed.
Multiple offers for homes again reigned supreme in all price points during 2021. Days on market reached historic lows during the year. Homes sold virtually twice as fast as they did in 2020.
With Charlotte recently ranked #5 as one of the top 10 hottest real estate markets for 2022 in the U.S., it's not unreasonable to assume the Charlotte region's housing market will remain competitive into 2022 and to continue to outperform national averages over the next several years.
Moreover, the demand for homes in 2022 will be further exacerbated by demand from millennials as they age into their prime home buying years according to Odeta Kushi, Deputy Chief Economist at First American.
Charlotte Region Housing Market Quick Facts:
2017 - 2021
Charlotte Region Distressed Property Sales Quick Facts:
2017 - 2021
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This Charlotte, NC region housing market update for 2021 is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your Greater Charlotte residential real estate experts. We've been opening doors for Charlotte area home buyers and sellers for 20+ years. Let us open the door to your next home... you'll be glad you did!
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