ERA Live Moore 2020 Annual Market Coverage Report

PREPAREDFORTHEAREASWESERVE

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ERALi v eMoor e. c om

ERA LIVE MOORE REAL ESTATE

2020 ALL AREAS ANNUAL MARKET REPORT

2020 Friends, Clients, Colleagues, 2020 was a year of considerable change and presented us all with unforeseen challenges. It has also been an opportunity to show others what makes us strong-being in the service of others and giving back to our communities. This past year has limited our ability to plan ahead, forcing us to be present and mindful of the here and now. It has taught us so much in the process and has reaffirmed our commitment to our profession and to each other.

As the impact of COVID-19 continues to unfold before us, our hearts go out to the many people around the world who have been affected.

Despite the record-breaking sales of 2019, 2020 finished the year on a similar trajectory of sales success. Raleigh and our major markets in Charlotte, Winston-Salem, and Asheville all continued to experience a shrinking inventory across most price points. As inventory depletes, the growth of the average sales price continues to rise due to demand. Again in 2020, we continue to acknowledge and recognize the hard work and ambition that placed even more of our Sales Associates in the ERA award categories of Circle of Honor, Circle of Achievement, and the highest sales production award, Leaders' Circle.

What to expect in 2021? We'll continue to see the effects of a housing market in the midst of a pandemic. Increased buyers in our local market, many coming from out of state due to climate relocation, retirement, or just buyers seeking more space and a slower pace than that of larger metro areas. The low interest rate also accounts for an increase in buyers, ideal for first-time buyers and our ever-expanding millennial market. We expect Raleigh and the wider Triangle area to sustain a demand for housing throughout the year.

You may have questions about making a move, what your home might be worth, and what is involved in putting a home up for sale. Let our knowledgeable and experienced Brokers and REALTORS® here at ERA Live Moore Real Estate and our family of companies, walk you through the entire process. We are always available to answer any questions you may have.

Once again, thank you for the opportunity to serve you.

Eb Moore President & CEO ERA Live Moore & Wilkinson ERA

THE TRIANGLE AREA

RESIDENTIAL SALES SUMMARY In 2020, the Triangle Area simultaneously dealt with a public health pandemic and had one of the busiest real estate years on record, with median sales prices and low inventory ending the bullish decade on a high. Often ranked in various Top Ten housing markets in the country-whether it's talking about The Triangle Area's educated workforce, growing millennial population, or expanding the Research Triangle presence, we see no slowing down in 2021! The shortage of housing continues to drive home prices upwards, with more buyers looking to buy in both established neighborhoods and communities in transition.

Raleigh home sales in 2020 were higher in sales volume than the previous year and the number of homes sold increased by 4.10% on the previous year. The Median Sales Price for a single-family home or condo in Raleigh last year was $279,000, annual increase of 2.76%. The Average Price Per Square Foot has risen 21.38%! No surprise based on buyer demand and rising home prices.

Forecasts for 2021 project a steady increase in sales, with more inventory entering the market and a constant influx of buyers coming to The Triangle from the Midwest, East Coast, and South Florida. Afford-ability is relative as we see buyers coming from top-tier housing markets like New York, Chicago, and Miami.

This growing population has fed the current demand, largely led by a talented and diverse workforce, driven by the millennial age group seeking more affordable housing yet maintaining a distinctly urban footprint.

ERA Live Moore Real Estate 2020 REAL ESTATE YEAR IN REVIEW

RALEIGH

&

DURHAM Residential RALEIGH JAN THROUGH DEC

2019

2020

%CHANGE

24

-11.11%

9,119

9,943

4.10%

Median Sales Price

$271,500

$279,000

2.76%

AVG Months Supply

2.02

1.43

-29.21%

Price Per Sq Ft

$159.00

$193.00

21.38%

Total New Listings

10,648

10,339

-2.90%

List to Sales Price Ratio

99%

99%

0%

AVG Days on Market

27

Total Closed Homes

AVG

--------

JANUARY - DECEMBER

DURHAM JAN THROUGH DEC

2019

2020

%CHANGE

AVG Days on Market

24

24

0.00%

Total Closed Homes

5,141

5,429

5.60%

Median Sales Price

$270,000

$289,755

7.32%

AVG Months Supply

1.93

1.45

-24.87%

$193.00

$165.00

-14.51%

Total New Listings

6,007

5,857

-2.50%

List to Sales Price Ratio

99%

100%

1.01%

AVG

Price Per Sq Ft

--------

JANUARY - DECEMBER 3

ERA Live Moore Real Estate 2020 REAL ESTATE YEAR IN REVIEW

CHARLOTTE

CI TY Residential Da s on Market

2019 35

List to Sales Price Ratio

2019 98%

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

27

99%

-22.86%

0.78%

Median Sales Price $285,000

Sold Homes I Closed Sales

2019

16,886

17,225

10.54%

2.01%

Months Supply

2019 2.05

1.48

-27.80%

Price Per S $175.35

19,507

9.17%

-2.42% 4

ERA Live Moore Real Estate 2020 REAL ESTATE YEAR IN REVIEW

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

Da s on Market

2019 37

2020

%CHANGE

29

-21.62%

2020

%CHANGE

99%

0.60%

2020

%CHANGE

2020

%CHANGE

2020

%CHANGE

1.48

-31.80%

2020

%CHANGE

2020

%CHANGE

List to Sales Price Ratio 98%

Median Sales Price

$300,000

Sold Homes I Closed Sales

21,902

Months Su

11.11%

3.41%

Price Per S $157.17

$172.28

24,523

8.88%

-3.56% 5

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AsofJ a nua r y , 2021, t heAver ageMont h’ sRent i nRa l ei ghi s$1, 263 ( a7.

13%i nc r ea s eon2019) *

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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

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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

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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%

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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

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