Q1 2020 Wilkinson ERA Real Estate Area Market Report

Page 1



2 0 2 0 F r i ends , Cl i ent s , Col l ea gues , T he r s tqua r t erof2020s t a r t edoffs t r ong, wi t har obus tbuy erdema nd, r educ edi nv ent or y , a nda hi ghers a l esv ol ume. Begi nni ngt hey ea rons uc hpos i t i v emoment um ha shel pedt r emendous l y . Cha r l ot t ewa sonat r a j ec t or yofr ea l es t a t es uc c es sunma t c hedi nr ec enthi s t or y . T hi shi s t or y , howev er , wa sa boutt oc ol l i dewi t hapa ndemi ct ha tha sha da nunpr ec edent edi mpa c tont hi s c i t y ’ sec onomy . COVI D19i sf a rf r om gone, butwec a nbegi nt os ees omel i ghta tt heendoft he t unnel a ndmuc ht obepos i t i v ea bout . Des pi t ei nc r edi bl ec ha l l enges , r ea l es t a t eha sc ont i nuedt opi v ota nda da ptt onewwa y sof c onduc t i ngbus i nes s . Wi l k i ns onE RA’ sv i r t ua l t r a ns a c t i ons er v i c esha v es ea ml es s l yr ol l edout , a l l owi ngpr os pec t i v ebuy er st os hoponl i ne, c onduc tv i r t ua l a ppoi nt ment s , s i gnc ont r a c t s , a nd ev enc l os eont hei rpur c ha s esi ns omeofourma r k et s . I tma ynotbet hei dea l t i mi ng, butt her ei s noques t i onouri ndus t r ya ndc ompa nywer er ea dyt oa da ptf ort hec ons umer . COVI D19a s i de, t he r s tqua r t erof2020ha sbeenc ons i s t entwi t h2019i nma nyr es pec t s . Al t hough we’ r eex per i enc i ngas l owdowni nphy s i c a l buy era c t i v i t y , t hedema ndf orCha r l ot t ea r ear ea l es t a t e r ema i nss t r ong. WhenGov er norCooper ’ s“ S t a ya tHome”or deri sl i f t ed, weex pec tt ha tpent up dema ndwi l l r et ur n, r es ul t i ngi nas ol i dQ3a ndQ4per f or ma nc e. Buy er sa r ewa i t i ngont hes i del i nes t owa t c hwha tha ppensov ert henex tc oupl eofmont hs . Onc et hi ngsha v es et t l ed, weex pec tt os ee bus i nes sr a mpupqui c k l y , dr i v i ngma j orgr owt hi nQ3&Q4. T hi ss t or ya l s or es oundsa c r os sourv i br a ntma r k et si nWi ns t onS a l em, As hev i l l e, Ra l ei gh, &Dur ha m. Al l ma r k et sha v edemons t r a t edc ons i s t entgr owt ha tt hes t a r toft hey ea ra ndex per i enc eda s l owi ngofCl os edHomesa ndNewL i s t i ngsonc et hepa ndemi ca r r i v edi nNor t hCa r ol i na . Wes t r ongl ybel i ev et ha twewi l l mov et hr ought hes ec ha l l engi ngda y sa ndc omeoutoft hi s s t r ongera ndbet t erpos i t i onedf ors uc c es st hr oughoutourc ommuni t i es . Wea r ehopef ul a bout ndi ngeffec t i v et r ea t ment sa ndav a c c i nef orCOVI D19. Asa l wa y s , wer ema i ns t ea df a s ti nour c ommi t mentt oy ou, r ea dyt oa s s i s ty ou, y ourc l i ent s , a ndy ourt r a ns f er eesmov i ngi nt oa ndoutof t hema r k et swes er v e. I tha sbeenours i nc er epl ea s ur et owor kwi t hy oua ndwel ookf or wa r dt oa hea l t hya nds a f es ec ondqua r t era ndbey ond. E bMoor e Pr es i dent&CE O Wi l k i ns onE RARea l E s t a t e


CHARL OTTE

RESI DENTI ALSALESSUMMARY I n2 0 1 9 , t heCha r l ot t er e s i de nt i a l r e a l e s t a t ema r k e tfi ni s he dt hede c a deonahi g ha ndc ont i nue dt hi smome nt um i nt oJ a nua r yof 2 0 2 0 . F a s tf or wa r dt ot oda ya ndr e a l e s t a t ea swek ne wi tha dc ha ng e ddr a ma t i c a l l yi nF e br ua r ya nd Ma r c hof t hi sy e a r . e“ boom”t a l kof Cha r l ot t es t i l l e x i s t s —i t ’ sj us tov e r s ha dowe dr i g htnowbyapa nde mi ct ha t i sbe i ngv i g or ous l yf oug htt hr oug houtc ommuni t i e s . Cha r l ot t es t i l l hol dspl a c ei nt het opt e nU. S . hous i ngma r k e t s . De ma ndha sque l l e di nr e c e ntmont hs , butt he s hor t a g eof hous i ngt hr oug houtt hei nt ownc ommuni t i e sa ndwi de rCha r l ot t e a r e ac ont i nue st odr i v epr i c e s upwa r d, wi t hmor ebuy e r sl ook i ngt obuyi nbot he s t a bl i s he dne i g hbor hoodsa ndc ommuni t i e si nt r a ns i t i on. Cha r l ot t ehomes a l e si nQ1we r es l i g ht l yhi g he r( 8 . 6 0 %)i ns a l e sv ol umet ha nQ12 0 1 9 . eMe di a nS a l e sP r i c ef ora s i ng l e f a mi l yhomeorc ondoi nCha r l ot t edur i ngQ1wa s$ 2 6 4 , 0 0 0 , anot a bl ei nc r e a s eof 1 0 . 7 4 %! eAv e r a g eP r i c e P e rS qua r eF ootha sr i s e n9 . 5 6 %, whi c hi sc ons i s t e ntwi t hpr e v i ousbuy e rde ma nda ndr i s i nghomepr i c e s . F or e c a s t sf orQ22 0 2 0pr oj e c tabumpyf e wmont hsi ns a l e s , howe v e rQ3a ndQ4a r epr oj e c t e dt obedr i v e nby pe nt upbuy e rmome nt um, dr i v i ngQ3a ndQ4s a l e supwa r d. Wer e ma i nf or t una t et oha v eas ol i dj obe c onomy , e duc a t e dwor kf or c ea nda ffor da bi l i t yi nc ompa r i s onwi t ht opt i e rhous i ngma r k e t sl i k eNe wYor k , Chi c a g o, Mi a mi , e t c . . Wec a n’ tmi ni mi z et hei mpa c tont hes e r v i c ei ndus t r ya ndt hei mpa c tt hi sc oul dha v eonourc ommuni t i e s , howe v e rfl a t t e ni ngt hec ur v eof t heCOVI D1 9v i r usa nda dhe r i ngt ot heS t a ya tHomeor de rwi l l g oal ongwa yt o r e s umi ngaf a mi l i a rwa yof l i f eonc ea g a i n.

2


CHARL OTTE CI TYResidential DaysonMar ket Januar y t hr ough Mar ch

43

Li stt oSal esPr i ceRat i o

43

43

J anuar y t hr ough Mar ch

Medi anSal esPr i ce Januar y t hr ough Mar ch

Sol dHomes/Cl osedSal es J anuar y t hr ough Mar ch

99%

Mont hsSuppl y Januar y t hr ough Mar ch

Pr i cePerSquar eFoot Januar y t hr ough Mar ch

$166. 70

$152. 16

9. 56%

4, 890

4, 892

0. 04%

New Li st i ngs Januar y t hr ough Mar ch

3


ME CKL E NBURG COUNTYResidential I n c l u d i n gCh a r l o t t e , Co r n e l i u s , Da v i d s o n , Hu n t e r s v i l l e

DaysonMar ket Januar y t hr ough Mar ch

43

Li stt oSal esPr i ceRat i o

43

43

J anuar y t hr ough Mar ch

Medi anSal esPr i ce Januar y t hr ough Mar ch

Sol dHomes/Cl osedSal es J anuar y t hr ough Mar ch

99%

Mont hsSuppl y Januar y t hr ough Mar ch

Pr i cePerSquar eFoot Januar y t hr ough Mar ch

$164. 18

$150. 76

8. 90%

6, 025

6, 169

2. 33%

New Li st i ngs Januar y t hr ough Mar ch

4


eMe di a nS a l e sP r i c ei n Q12 0 2 0f oras i ng l ef a mi l y homei nCha r l ot t ewa s $ 2 6 4 , 0 0 0f ora y e a rov e ry e a ri nc r e a s eof 1 0 . 7 4 %

Apa r t me ntoc c upa nc yi nCha r l ot t e i s9 1 . 8 %wi t hmor et ha n2 0 , 9 6 1uni t spr opos e d i nne wa pa r t me ntpr oj e c t s&c ommuni t i e s .

I nF e br ua r y2 0 2 0 , t hea v e r a g emont h’ s r e nti nCha r l ot t ewa s$ 1 , 2 5 9 ( $ 2 5 0l e s st ha nt hena t i ona l a v e r a g eof $ 1 , 4 6 8 ) * *

eMe di a nS a l e sP r i c ei n 2 0 2 0f oras i ng l ef a mi l y homei nMe c k l e nbur gCount y wa s$ 2 7 8 , 6 0 5f ora y e a rov e ry e a ri nc r e a s eof 1 0 . 1 3 %

* Cha r l ot t eBus i ne s sJ our na l 2 0 2 0da t a| * * RE NTCa f eF e br ua r y2 0 2 0da t a


L or e mI ps um

CHARL OTTE ARE A COUNTI E SResidential DaysonMar ket Januar y t hr ough December MAR

CABARRUSCOUNTY

43

43

Li stt oSal esPr i ceRat i o 4 5 J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

43 4 9

8 . 1 6 %

8 2 5 $ 2 5 5 , 0 0 0

8 4 6 $ 2 3 3 , 6 6 8

2 . 4 8 %

1 . 7

2 . 5

$ 1 2 5 . 6 4 1 , 1 0 7

$ 1 1 4 . 0 0

9 8 %

1 , 1 5 9 9 8 %

9 . 1 3 % 3 2 . 0 0 % 1 0 . 2 1 % 4 . 4 9 % 0 . 0 0 %

Aa N U ARY-MARCH Sol dHomes/Cl osedJ S l es

99%

J anuar y t hr ough Dec ember

UNI ONCOUNTY Mont hsSupp l y MA R Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$137. 13

$150. 71

9. 90%

New Li st i ngs Januar y t hr ough December

J ANUARY-MARCH 25, 091

24, 603

1. 94%

6


CHARL OTTE ARE A COUNTI E SResidential DaysonMar ket Januar y t hr ough December

YORKCOUNTY, S C

43

Li stt oSal esPr i ceRat i o

MAR

J anuar y t hr ough Dec ember

Medi anSal esPr i ce Januar y t hr ough December

Lor e mI ps um

Sol dHomes/Cl osedSal es

43

4 3 202 0

2019

4 5

4 9

8 . 1 6 %

1 , 0 3 6

1 , 0 1 3

$ 2 6 9 , 9 0 0

$ 2 8 4 , 1 5 8

2 . 2 7 % 5 . 0 2 %

1 . 7 3

2 . 4

2 7 . 9 2 %

$ 1 3 2 . 6 5

$ 1 2 2 . 4 6

8 . 3 2 %

1 , 6 0 3 9 9 %

1 , 6 4 5 9 8 %

2 . 5 5 % 1 . 0 2 %

J ANUARY-MARCH

99%

J anuar y t hr ough Dec ember

L ANCAS TE RCOUNTY, S C

Mont hsSuppl y

MAR

Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$137. 13

L or e mi ps um

LI s tt oSa l e sPr i c eRa t i o

7

25, 091

2020

2019

5 5

6 4

1 4 . 0 6 %

4 2 7

3 7 4

1 4 . 1 7 %

$ 3 0 0 , 0 0 0

$ 2 9 9 , 1 2 4

0 . 2 9 %

2 . 1 3

2 . 9 3

2 7 . 3 0 %

$ 1 2 9 . 8 8 $150. 71 5 8 6

6 . 2 8 %

$ 1 2 2 . 2 1 9 . 9 0 % 5 8 7

9 9 %

0 . 1 7 % 0 . 0 0 %

9 9 %

J ANUARY-MARCH 24, 603

1. 94%

3


L or e mI ps um

WI NS TONS AL E M&

HI GHP OI NTResidential DaysonMar ket Januar y t hr ough December

WI NS TONS AL E M MAR

432020 43

Li stt oSal esPr i ceRat i o 4 1 J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

2 0 1 9 4 3 5 2

2 1 . 1 5 %

7 5 2 $ 1 6 9 , 9 5 0

7 4 4 $ 1 5 2 , 0 0 0

1 . 0 8 %

2 . 0 7

2 . 2 7

$ 1 0 3 . 2 4 1 , 2 3 1

$ 9 7 . 1 4

9 8 %

1 , 1 7 8 9 8 . 5 5

1 1 . 8 1 % 8 . 8 1 % 6 . 2 8 % 4 . 5 0 % . 5 6 %

Aa N U ARY-MARCH Sol dHomes/Cl osedJ S l es

99%

J anuar y t hr ough Dec ember

HI GHP OI NT Mont hsSupp l y MA R Januar y t hr ough December

2 0 2 0

2 0 1 9

Pr i cePerSquar eFoot Januar y t hr ough December

$410

$150. 71

9. 90%

New Li st i ngs Januar y t hr ough December

J ANUARY-MARCH 25, 091

24, 603

1. 94%

8


GRE E NS BORO R e s i d e n t i a l

DaysonMar ket Januar y t hr ough December

GRE E NS BORO

43

Li stt oSal esPr i ceRat i o

MAR

J anuar y t hr ough Dec ember

Medi anSal esPr i ce Januar y t hr ough December

Lor e mI ps um

Sol dHomes/Cl osedSal es

4 202 03

2019

4 2

5 5

2 3 . 6 4 %

9 1 2

8 5 3

$ 1 8 0 , 5 0 0

$ 1 7 0 , 5 0 0

6 . 9 2 % 5 . 8 7 %

1 . 6

2 . 2 3

2 8 . 2 5 %

$ 1 0 8 . 8 3

$ 1 0 0 . 3 2

8 . 4 8 %

1 , 2 4 5 9 8 %

1 , 2 5 2 9 8 %

0 . 5 6 % 0 %

J ANUARY-MARCH

99%

J anuar y t hr ough Dec ember

AS HE VI L L E

Mont hsSuppl y Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$137. 13

L or e mi ps um

LI s tt oSa l e sPr i c eRa t i o

9 7

25, 091

5 4

5 6

3 . 7 0 %

1 , 5 6 1

1 , 8 4 6

1 8 . 2 6 %

$ 2 6 8 . 0 0 0

$ 2 7 8 , 9 5 0

4 . 0 9 %

3 . 6

2 . 9 9

1 6 . 9 4 %

$ 1 1 4 . 8 2 $150. 71 2 , 1 4 4 9 8 %

3 . 6 1 %

$ 1 1 8 . 9 6 9 . 9 0 % 2 , 2 1 7

3 . 4 0 % 0 . 0 0 %

9 8 %

J ANUARY-DE CE MBE R 24, 603

1. 94%

3


L or e mI ps um

AS HE VI L L E R e s i d e n t i a l

DaysonMar ket Januar y t hr ough December

AS HE VI L L E

2020 Li stt oSal esPr i ceRat i o 7 2 MAR

J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

43

20 1 9 4 3 6 6

2 . 7 0 %

4 5 6 $ 3 3 6 , 0 0 0

3 9 1 $ 2 9 2 , 5 0 0

1 6 . 6 2 %

2 . 6 3

3 . 7

$ 2 2 1 . 5 0 5 9 8

$ 2 0 2 . 5 7

9 7 %

6 2 4 9 7 %

1 4 . 8 7 % 2 8 . 9 2 % 9 . 3 4 % 4 . 1 7 % 0 %

Aa N U ARY-MARCH Sol dHomes/Cl osedJ S l es

99%

J anuar y t hr ough Dec ember

HI GHP OI NT Mont hsSuppl y Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$137. 13

$150. 71

9. 90%

New Li st i ngs Januar y t hr ough December

J ANUARY-DE CE MBE R 25, 091

24, 603

1. 94%

6

1 0


L or e mI ps um

RAL E I GH&

DURHAM Residential DaysonMar ket Januar y t hr ough December

RAL E I GH

MAR

c I TY

432 3 0 1 8 2 0 2 0 4

Li stt oSal esPr i ceRat i o 2 7 J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

2 0 1 9 2 0 1 9 4 3 2 5

8 . 0 0 %

1 , 9 1 1 $ 2 9 9 , 0 0 0

1 , 7 8 2 $ 2 7 4 , 3 8 5

7 . 2 4

1 . 5

1 . 8 3

$ 1 6 5 . 0 0 2 , 7 4 5

$ 1 5 6 . 0 0

9 9 %

2 , 7 0 1 9 9 %

8 . 9 7 % 1 8 . 0 3 % 5 . 7 7 % 1 . 6 3 % 0 %

A N U ARY-MARCH Sol dHomes/Cl osedJ S a l e s

99%

J anuar y t hr ough Dec ember

DURHAM

Mont hsSupp l y MA R Januar y t hr ough December

2 0 1 8 2 0 2 0

2 0 1 9 2 0 1

Pr i cePerSquar eFoot Januar y t hr ough December

$137. 13

$150. 71

9. 90%

New Li st i ngs Januar y t hr ough December

J ANUARY-MARCH 25, 091

24, 603

1. 94%

11



Look i ngf orac a r e e rt ha ti sar e a l gr owt h oppor t uni t ya ndno tj u s taj o b ? Ac ha l l e ngi nga ndr e wa r di ngc a r e e rwi t ht heba c k i ngofa ni nt e r na t i ona l br a ndr a nk e d#1i nt heCa r ol i na s ,offe r i ngs t a t e of t he a r tt e c hnol ogy t ha the l psy ouwor ks ma r t e r ? Ti met ot r yac a r e e rwi t h Wi l ki ns onERAReal Es t at e

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