2020 Charlotte Relocation Annual Market Report

Page 1

PREPAREDFORTHEAREASWESERVE



2 0 2 0 F r i ends , Cl i ent s , Col l ea gues , 2020wa say ea rofc ons i der a bl ec ha ngea ndpr es ent edusa l l wi t hunf or es eenc ha l l enges . I tha s a l s obeena noppor t uni t yt os howot her swha tma k esuss t r ong—bei ngi nt hes er v i c eofot her s a ndgi v i ngba c kt oourc ommuni t i es . T hi spa s ty ea rha sl i mi t edoura bi l i t yt opl a na hea d, f or c i ng ust obepr es enta ndmi ndf ul . I tha st a ughtuss omuc hi nt hepr oc es sa ndha sr ea ffir medour c ommi t mentt oourpr of es s i ona ndt oea c hot her . Ast hei mpa c tofCOVI D19c ont i nuest ounf ol dbef or eus , ourhea r t sgooutt ot hema nypeopl e a r oundt hewor l dwhoha v ebeena ffec t ed. Des pi t et her ec or dbr ea k i ngs a l esof2019, 2020 ni s hedt hey ea ronas i mi l a rt r a j ec t or yofs a l es s uc c es s . Cha r l ot t ea ndourma j orma r k et si nRa l ei gh, Wi ns t onS a l em, a ndAs hev i l l ea l l c ont i nued t oex per i enc eas hr i nk i ngi nv ent or ya c r os smos tpr i c epoi nt s . Asi nv ent or ydepl et es , t hegr owt h oft hea v er a ges a l espr i c ec ont i nuest or i s eduet odema nd. Aga i ni n2020, wec ont i nuet o a c k nowl edgea ndr ec ogni z et heha r dwor ka nda mbi t i ont ha tpl a c edev enmor eofourS a l es As s oc i a t esi nt heE RAAwa r dsc a t egor i esofCi r c l eofHonor , Ci r c l eofAc hi ev ement , a ndt he hi ghes ts a l espr oduc t i ona wa r d, L ea der s ’ Ci r c l e. Wha tt oex pec ti n2021?We’ l l c ont i nuet os eet heeffec t sofahous i ngma r k eti nt hemi ds tofa pa ndemi c . I nc r ea s edbuy er si nourl oc a l ma r k et , ma nyc omi ngf r om outofs t a t eduet oc l i ma t e r el oc a t i on, r et i r ement , orj us tbuy er ss eek i ngmor es pa c ea ndas l owerpa c et ha nt ha tofl a r ger met r oa r ea s . T hel owi nt er es tr a t ea l s oa c c ount sf ora ni nc r ea s ei nbuy er s , i dea l f or r s t t i me buy er sa ndourev er ex pa ndi ngmi l l enni a l ma r k et . Weex pec tt hi st oc ont i nuet hr oughout Cha r l ot t ea ndt hewi dermet r oa r et os us t a i nadema ndf orhous i ngt hr oughoutt hey ea r . Youma yha v eques t i onsa boutma k i ngamov e, wha ty ourhomemi ghtbewor t h, a ndwha ti s i nv ol v edi nput t i ngahomeupf ors a l e. L etourk nowl edgea bl ea ndex per i enc edBr ok er sa nd RE AL T ORS ®her ea tWi l k i ns onE RARea l E s t a t ea ndourf a mi l yofc ompa ni es , wa l ky out hr ought he ent i r epr oc es s . Wea r ea l wa y sa v a i l a bl et oa ns wera nyques t i onsy ouma yha v e. Onc ea ga i n, t ha nky ouf ort heoppor t uni t yt os er v ey ou. J oa nHa r poot l i a nT homa s , S CRPGMS Pr es i dent , Rel oc a t i ona ndCor por a t eS er v i c es Wi l k i ns onE RARea l E s t a t e


CHARLOTTE

RESIDENTIAL SALES SUMMARY In 2020, the Charlotte residential real estate market began its first year of the new decade, in a period of great change and uncertainty. Despite this, all areas reported increased or record, home sales to end the year. Whether it was average and median sales prices, or an inventory that once again ranked Charlotte as the #3 best U.S. housing market, Charlotte's housing boom shows no signs of slowing down. We expect the sales pace to continue throughout 2021, slowed only slightly by the possible prospect of higher mortgage interest rates. Inventory is still one of the largest housing-related challenges to affect buyers throughout the Charlotte metro area. It's clearly still a "Seller's Market" in the Charlotte area, with inventory pushing buyers beyond the city borders, into rapidly growing communities. Charlotte home sales in 2020 were marginally higher in Closed Homes than 2019, with just over a 2% rise. The Median Sales Price for a single-family home or condo in Charlotte last year was $285,000, a notable increase of 10.54%! The Average Price Per Square Foot has risen to $175.35, an increase of 9.17%, which is consistent with buyer demand and rising home prices. All market predictions for 2021 project a steady increase in sales, driven largely by an influx of skilled workers, professionals, and retirees from feeder states like New Jersey, Florida, and the Midwest. Consumer confidence is still strong, and Charlotte appears to be on the right side of this real estate boom, for at least the first half of 2021.


CHARL OTTE CI TYResidential DaysonMar ket Januar y t hr ough December

43

Li stt oSal esPr i ceRat i o

43

43

J anuar y t hr ough Dec ember

Medi anSal esPr i ce Januar y t hr ough December

Sol dHomes/Cl osedSal es J anuar y t hr ough Dec ember

99%

Mont hsSuppl y Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$160. 62

$175. 35

9. 17%

19, 991

19, 507

2. 42%

New Li st i ngs Januar y t hr ough December

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 December

43

Li stt oSal esPr i ceRat i o

43

43

J anuar y t hr ough Dec ember

Medi anSal esPr i ce Januar y t hr ough December

Sol dHomes/Cl osedSal es J anuar y t hr ough Dec ember

99%

Mont hsSuppl y Januar y t hr ough December

Pr i cePerSquar eFoot Januar y t hr ough December

$157. 17

$172. 28

8. 88%

25, 240

24, 523

3. 56%

New Li st i ngs Januar y t hr ough December

4


Char l ot t eOc c upi edHous i ngUni t s * * 59%ofhomesa r eowner oc c upi edhous ehol ds a nd40%a r er ent er oc c upi edhous ehol ds

AsofDec ember , 2020, t heAver ageMont h’ sRent i nCha r l ot t ewa s$1, 584 ( a3. 8%i nc r ea s eon2019) *

* Ca nopyML S* *Rent Ca f e. c om


L or e mI ps um

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

CABARRUSCOUNTY

43

43

Li stt oSal esPr i ceRat i o 3 9 J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

43 3 0

4 , 1 2 0 $ 2 4 5 , 0 0 0

4 , 1 4 9 $ 2 6 8 , 9 9 0

2 . 0 3

1 . 2 1

$ 1 1 8 . 8 9 4 , 8 4 9

$ 1 3 2 . 3 9

9 8 %

4 , 4 6 3 9 9 %

2 3 . 0 8 % 0 . 7 0 % 9 . 7 9 % 4 0 . 3 9 % 1 1 . 3 6 % 7 . 9 6 % 1 . 0 2 %

AS Na U A RY-DE CE MBE R Sol dHomes/Cl oseJ d l e s

99%

J anuar y t hr ough Dec ember

UNI ONCOUNTY 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


WILKINSON ERA REAL ESTATE 2020 REAL ESTATE YEAR IN REVIEW

CHARLOTTE-AREA

COUNTIES YORK COUNTY, SC

Residential

Including Fort Mill, Lake Wylie, Rock Hill

2019

2020 33

-23.26%

Total Closed Homes

5,549

5,592

0.77%

Median Sales Price

$268,000

$289,900

8.17%

AVG Months Supply

2.42

1.74

-28.10%

AVG Price Per Sq Ft

$129.41

$140.07

8.24%

Total New Listings

7,144

6,154

-13.86%

List to Sales Price Ratio

99%

99%

0.51%

JAN THROUGH DEC AVG Days on Market

43

%CHANGE

JANUARY - DECEMBER -------------

LANCASTER COUNTY, SC

2019

%CHANGE

AVG Days on Market

50

2020 43

-14.00%

Total Closed Homes

1,969

2,283

15.95%

Median Sales Price

$300,000

$325,000

8.33%

AVG Months Supply

2.79

1.66

-40.50%

JAN THROUGH DEC

7

Including Lancaster, Indian Land

AVG Price Per Sq Ft

$125.68

$133.91

6.55%

Total New Listings

2,474

2,443

-1.25%

List to Sales Price Ratio

99%

99%

0.0%

-------

JANUARY - DECEMBER


WILKINSON ERA REAL ESTATE 2020 REAL ESTATE YEAR IN REVIEW

WINSTON SALEM &

HIGH PQINTResidential WINSTON SALEM JAN THROUGH DEC

2019

2020

AVG Days on Market

39

34

-12.82%

Total Closed Homes

3,970 $167,000

3946

-0.60%

$192,000

14.97%

AVG Months Supply

2.2

1.58

-28.18%

AVG Price Per Sq Ft

$114.54

$112.91

-1.42%

Total New Listings

4,589

4,393

-4.27%

List to Sales Price Ratio

115%

NA

Median Sales Price

--------

%CHANGE

NA%

JANUARY - DECEMBER

HIGH POINT JAN THROUGH DEC

2019

2020

%CHANGE

AVG Days on Market

40

33

-17.50%

Total Closed Homes

1,556

1,571

0.96%

Median Sales Price

$161,000

$182,000

13.04%

AVG Months Supply

2.37

1.62

-31.65%

AVG Price Per Sq Ft

$99.44

10.91%

Total New Listings

$89.66 1,862

1,745

-6.28%

List to Sales Price Ratio

97%

98%

1.03%

--------

JANUARY - DECEMBER 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 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

4 201 93

2020

3 9

3 0

2 3 . 0 8 %

4 , 4 1 9

4 , 5 8 5

$ 1 7 5 , 0 0 0

$ 1 9 9 , 0 0 0

3 . 2 9 % 1 0 . 6 2 %

2 . 6 7

1 . 4 8

4 7 . 7 0 %

$ 1 0 5 . 7 1

$ 1 1 4 . 9 5

8 . 7 9 %

5 , 1 7 5 9 8 %

5 , 2 7 0 9 9 %

1 . 8 4 % 0 . 8 2 %

J ANUARY-DE CE MBE R

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

Mo u n t a i n s

2019 Li stt oSal esPr i ceRat i o 6 6 J anuar y t hr ough Dec ember

Medi anSal es Pr i ceJanuary t hr ough December

43

20 2 0 4 3 5 1

2 2 . 7 3 %

2 , 2 6 8 $ 3 1 8 , 0 0 0

2 , 3 3 4 $ 3 5 4 , 0 0 0

2 . 9 1 %

4 . 0 9

3 . 0 2

$ 2 1 7 . 2 9 2 , 8 4 6

$ 2 3 2 . 0 9

9 7 %

2 , 7 8 2 9 8 %

1 1 . 3 2 % 2 6 . 1 6 % 6 . 8 1 % 2 . 2 5 % 1 . 0 3 %

AS Na U A RY-DE CE MBE R Sol dHomes/Cl oseJ d l e s

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

432 3 0 1 8 2 0 1 9 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 2 0 4 3 2 4

1 1 . 1 1 %

9 , 1 1 9 $ 2 7 1 , 5 0 0

9 , 9 4 3 $ 2 7 9 , 0 0 0

4 . 1 0 %

2 . 0 2

1 . 4 3

$ 1 5 9 . 0 0 1 0 , 6 4 8

$ 1 9 3 . 0 0 1 0 , 3 3 9

2 1 . 3 8 % 2 . 9 0 %

9 9 %

9 9 %

0 %

2 . 7 6 % 2 9 . 2 1 %

AS Na U A RY-DE CE MBE R Sol dHomes/Cl oseJ d l e s

99%

J anuar y t hr ough Dec ember

DURHAM

Mont hsSuppl y Januar y t hr ough December

2 0 8 2 0 1 9

2 0 2 0 2 0 1 9

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%

11



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 Tricia Hodge Senior Relocation Counselor 0: 704-815-0463 Tricia.Hodge@WilkinsonERA.com

Malisha Singletary Relocation and Affinity Manager 0: 704-815-9313 Malisha.Singletary@WilkinsonERA.com Kristen Malone Broker-to-Broker Coordinator 0: 704-815-0462 Kristen.Malone@WilkinsonERA.com

Main Relocation Line 704-815-0463

Wilkinson� REAL ESTATE

REAL ESTATE

RELOCATION AND CORPORATE SERVICES



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