2020 Q1 Wilkinson ERA Relocation Area Market Overview

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WILKINSON ERA REAL ESTATE Q1 REAL ESTATE MARKET UPDATE

2020

Friends, Clients, Colleagues, The first quarter of 2020 started off strong, with a robust buyer demand, reduced inventory, and a higher sales volume. Beginning the year on such positive momentum has helped tremendously. Charlotte was on a trajectory of real estate success unmatched in recent history. This history, however, was about to col­ lide with a pandemic that has had an unprecedented impact on this city's economy. COVID-19 is far from gone, but we can begin to see some light at the end of the tunnel and much to be positive about.

Despite incredible challenges, real estate has continued to pivot and adapt to new ways of conducting business. Wilkinson ERA's virtual transaction services have seamlessly rolled out, allowing prospective buyers to shop on-line, conduct virtual appointments, sign contracts, and even close on their purchases in some of our markets. It may not be the ideal timing, but there is no question our industry and company were ready to adapt for the consumer.

COVID-19 aside, the first quarter of 2020 has been consistent with 2019 in many respects. Although we're experiencing a slowdown in physical buyer activity, the demand for Charlotte-area real estate remains strong. When Governor Cooper's "Stay at Home" order is lifted, we expect that pent-up demand will return, resulting in a solid Q3 and Q4 performance. Buyers are waiting on the sidelines to watch what happens over the next couple of months. Once things have settled, we expect to see business ramp up quickly, driving major growth in Q3 & Q4.

This story resounds across our vibrant markets in Winston-Salem, Asheville, and Raleigh-Durham. All mar­ kets have demonstrated consistent growth at the start of the year and experienced a slowing of Closed Homes and New Listings once the pandemic arrived in North Carolina. One caveat to this? Relocation.

Relocation to the Carolinas has historically been driven by industry and media. The reasons for companies and individuals to choose Charlotte and our various markets throughout the Carolinas, comes down to factors that still exist still today-affordability compared to urban areas throughout the country (Char­ lotte, Raleigh-Durham, and 12 other North Carolina cities rank in Forbes' Best Places to Live list), location to mountains and the coast, as well as a milder climate and growing R&D, medical, technology, and finan­ cial industries, all attract more than 100,000 people to North Carolina and more than 21,000 to the Char­ lotte area, annually.

We strongly believe that we will move through these challenging days and come out of this stronger and better positioned for success throughout our communities. We are hopeful about finding effective treat­ ments and a vaccine for COVID-19. As always, we remain steadfast in our commitment to you, ready to assist you, your clients, and your transferees moving into and out of the markets we serve. It has been our sincere pleasure to work with you and we look forward to a healthy and safe second quarter and beyond.

Joan Harpootlian Thomas, SCRP GMS President, Relocation and Corporate Services Wilkinson ERA Real Estate

CHARLOTTE

RESIDENTIAL SALES SUMMARY In 2019, the Charlotte residential real estate market finished the decade on a high and continued this momentum into January of 2020. Fast forward to today and real estate as we knew it had changed dramatically in February and March of this year. The "boom" talk of Charlotte still exists-it's just overshadowed right now by a pandemic that is being vigorously fought throughout communities.

Charlotte still holds place in the top ten U.S. housing markets. Demand has quelled in recent months, but the shortage of housing throughout the in-town communities and wider Charlotte-area continues to drive prices upward, with more buyers looking to buy in both established neighborhoods and communities in transition.

Charlotte home sales in Q1 were slightly higher (8.60%) in sales volume than Q1 2019. The Median Sales Price for a single-family home or condo in Charlotte during Q1 was $264,000, a notable increase of 10.74%! The Average Price Per Square Foot has risen 9.56%, which is consistent with previous buyer demand and rising home prices.

Forecasts for Q2 2020 project a bumpy few months in sales, however Q3 and Q4 are projected to be driven by pent-up buyer momentum, driving Q3 and Q4 sales upward. We remain fortunate to have a solid job economy, educated work force and affordability in comparison with top-tier housing markets like New York, Chicago, Miami, etc.. We can't minimize the impact on the service industry and the impact this could have on our communities, however flattening the curve of the COVID-19 virus and adhering to the Stay at Home order will go a long way to resuming a familiar way of life once again.

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

CHARLOTTE

CI TY Residential Da s on Market

2020 38

List to Sales Price Ratio

2020 99%

2019

%CHANGE

2019

%CHANGE

44

98%

-13.64

-1.01%

Median Sales Price

2019

%CHANGE

2019

%CHANGE

2019

%CHANGE

$238,400

Sold Homes I Closed Sales

2020

3,534

3,254

10.74%

8.60%

Months Supply

2020 1.3

2

-35.00%

2019

%CHANGE

2019

%CHANGE

Price Per S $152.16

4,892

9.56%

-0.04%

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

MECKLENBURG CQ LJ NTY Residential Including Charlotte, Cornelius, Davidson, Huntersville

Da s on Market

2020

2019

%CHANGE

41

46

-10.87%

2019

%CHANGE

List to Sales Price Ratio 98%

Median Sales Price

Sold Homes I Closed Sales

98%

0.00%

2019

%CHANGE

$252,980

10.13%

2019

%CHANGE

2019

%CHANGE

3,981

Months Su

2.1

10.98%

-31.90%

Price Per S $164.18

2019

%CHANGE

2019

%CHANGE

$150.76

6,169

8.90%

-2.33%

The Median Sales Price in Q1 2020 for a single family home in Charlotte was $264,000 for a

year over year increase of 10.74%

Apartment occupancy in Charlotte is 91.8% with more than 20,961 units proposed in new apartment projects & communities.

In February 2020, the average month's rent in Charlotte was $1,259 ($250 less than the national average of $1,468)**

The Median Sales Price in 2020 for a single family home in Mecklenburg County was $278,605 for a year over year increase of 10.13%

*Charlotte Business Journal 2020 data I **RENTCafe February 2020 data

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

CHARLOTTE-AREA COUNTIES

Residential

CABARRUS COUNTY Including Concord, Harrisburg JAN THROUGH MAR

2020

2019

AVG Days on Market

45

49

-8.16%

Total Closed Homes

825

846

-2.48%

Median Sales Price

$255,000

$233,668

9.13%

AVG Months Supply

1.7

2.5

-32.00%

AVG Price Per Sq Ft

$125.64

$114.00

10.21%

Total New Listings

1,107

1,159

-4.49%

List to Sales Price Ratio

98%

98%

0.00%

--------

%CHANGE

JANUARY - MARCH

UN ION COUNTY Including Monroe, Waxhaw, Wedddington JAN THROUGH MAR

2020

2019

%CHANGE

AVG Days on Market

51

55

-7.27%

Total Closed Homes

869

807

7.68%

Median Sales Price

$315,000

$288,500

9.19%

AVG Months Supply

1.7

2.5

AVG Price Per Sq Ft

$134.00

$126.22

6.16%

Total New Listings

1,365

1,314

3.88%

List to Sales Price Ratio

98%

98%

0%

--------

-32.00

JANUARY - MARCH 6

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

CHARLOTTE-AREA

COUNTIES YORK COUNTY, SC

Residential

Including Fort Mill, Lake Wylie, Rock Hill

2020

2019 49

-8.16%

Total Closed Homes

1,036

1,013

2.27%

Median Sales Price

$269,900

$284,158

-5.02%

AVG Months Supply

1.73

2.4

-27.92%

AVG Price Per Sq Ft

$132.65

$122.46

8.32%

Total New Listings

1,603

1,645

-2.55%

List to Sales Price Ratio

99%

98%

1.02%

JAN THROUGH MAR AVG Days on Market

45

%CHANGE

JANUARY - MARCH -------------

LANCASTER COUNTY, SC JAN THROUGH MAR

7

Including Lancaster, Indian Land

2020

2019

%CHANGE

64

-14.06%

AVG Days on Market

55

Total Closed Homes

427

374

14.17%

Median Sales Price

$300,000

$299,124

0.29%

AVG Months Supply

2.13

2.93

-27.30%

AVG Price Per Sq Ft

$129.88

$122.21

6.28%

Total New Listings

586

587

-0.17%

List to Sales Price Ratio

99%

99%

0.00%

-------

JANUARY - MARCH

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

WINSTON SALEM &

HIGH PQINTResidential WINSTON SALEM JAN THROUGH MAR

2020

2019

AVG Days on Market

41

52

-21.15%

Total Closed Homes

752 $169,950

744

1.08%

$152,000

11.81%

AVG Months Supply

2.07

2.27

-8.81%

AVG Price Per Sq Ft

$103.24

$97.14

6.28%

Total New Listings

1,231

1,178

4.50%

List to Sales Price Ratio

98%

98.55

.56%

Median Sales Price

--------

%CHANGE

JANUARY - MARCH

HIGH POINT JAN THROUGH MAR

2020

2019

%CHANGE

AVG Days on Market

35

60

-41.67%

Total Closed Homes

312

311

.32%

Median Sales Price

$175,950

$152,000

15.76%

AVG Months Supply

2.0

2.23

-10.31

AVG Price Per Sq Ft

$84.13

9.10%

Total New Listings

$91.79 410

410

0.00%

List to Sales Price Ratio

97%

97%

0.00%

--------

JANUARY - MARCH 8

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

GREENSBORO Residential

GREENSBORO JAN THROUGH MAR

2020

2019

%CHANGE

AVG Days on Market

42

55

-23.64%

Total Closed Homes

912

853

6.92%

Median Sales Price

$180,500

$170,500

5.87%

AVG Months Supply

1.6

2.23

-28.25%

AVG Price Per Sq Ft

$108.83

$100.32

8.48%

Total New Listings

1,245

1,252

-0.56%

List to Sales Price Ratio

98%

JANUARY - MARCH ---------

98%

0%

WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

ASHEVILLE Residential

ASHEVILLE JAN THROUGH MAR

2020

2019

AVG Days on Market

72

66

-2.70%

Total Closed Homes

456

391

16.62%

Median Sales Price

$336,000

$292,500

14.87%

AVG Months Supply

2.63

3.7

28.92%

AVG Price Per Sq Ft

$221.50

$202.57

9.34%

Total New Listings

598

624

-4.17%

List to Sales Price Ratio

97%

97%

0%

--------

%CHANGE

JANUARY - MARCH

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WILKINSON ERA REAL ESTATE 2020 Q1 REAL ESTATE MARKET UPDATE

RALEIGH

&

DURHAM Residential RALEIGH (City) JAN THROUGH MAR

2020

AVG Days on Market

27

Total Closed Homes

2019

%CHANGE

25

8.00%

1,911

1,782

7.24

Median Sales Price

$299,000

$274,385

8.97%

AVG Months Supply

1.5

1.83

-18.03%

AVG Price Per Sq Ft

$165.00

$156.00

5.77%

Total New Listings

2,745

2,701

1.63%

List to Sales Price Ratio

99%

99%

0%

-------DURHAM

JANUARY - MARCH

(City)

JAN THROUGH MAR

2020

2019

%CHANGE

AVG Days on Market

23

22

4.55%

Total Closed Homes

1,055

976

8.09%

Median Sales Price

$278,000

$255,000

9.02%

AVG Months Supply

1.5

1.63

-7.98%

AVG Price Per Sq Ft

$160.00

$354.00

-54.80%

Total New Listings

1,466

1,347

8.83%

List to Sales Price Ratio

98%

99%

-1.01%

--------

JANUARY - MARCH 11

Wilkinson� REAL ESTATE REALESTATE

1.4

HOMES SOLD

BILLION

IN SALES VOLUME

TOP1%

2019 Customer Satisfaction Rating

OF REAL ESTATE FIRMS NATIONWIDE

OFFICES TO SERVE YOU

850+ Agents

OUR RELOCATION TEAM Joan Harpootlian Thomas, SCRP, GMS President, Reloca tion and Corporate Services 0: 704-815-9303 Joan.Thomas@WilkinsonERA.com

Allie Thomas, CRP, GOS Vice President, Relocation and Corporate Services 0: 704-815-9305 Allie.Thomas@WilkinsonERA.com

Tracy Hill Vice President, Business Development Charlotte and Raleigh-Durham 704-575-9545 Tracy.Hill@WilkinsonERA.com

Kristen Malone Broker to Broker Referral Coordinator 0: 704-815-9316 Kristen.Malone@WilkinsonERA.com

Stacy Warren Relocation Counselor 0: 704-815-9313 Stacy.Warren@WilkinsonERA.com

Tricia Hodge Senior Relocation Counselor 0: 704-815-0462 Tricia.Hodge@WilkinsonERA.com

Main Relocation Line 704-815-0463

Wilkinson ERA Real Estate I www.WilkinsonERA.com