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ERA Live Moore REAL ESTATE Q1 REAL ESTATE MARKET UPDATE
2021
Friends, Clients, Colleagues, Once again, we are incredibly grateful to have had the privilege of working with you during the first quarter of 2021. This spring, as our neighborhoods begin to blossom and bloom and temperatures offer an early hint at the upcoming summer season, we have great reason to be optimistic. There's a feeling in the air that we are beginning to open up. Businesses are welcoming back patrons, outdoor venues are increasing their audience capacities and planning the year's in-person events, and we are incredibly excited to begin meeting our clients and peers, both in person and in greater numbers-that said, we will contin ue to maintain the highest safety standards and showing protocols that insure safety for both our agents and their clients. As we continue to move ahead into the second quarter, we are surrounded by all the signs in the market that tell us it's spring-we are watching our major markets experience a continued demand for new and existing properties from buyers, who are driven largely by the affordable mortgage rates and an economic climate that is welcoming. It comes with the understanding, however, that they will most certainly face unprecedented competition for a shrinking inventory. This bodes well for the current "seller's market", where real estate sales statistics are squeezed to both the lowest (Days on Market) and highest (List Price to Sales Price) ends of the spectrum. What are our real estate predictions for the second quarter of 2021? With the Median List Price in Raleigh at $322,000, up 7.69% since Q1 2020, the rising median price and low housing inventory will most likely continue into the second and third quarters. We expect to see continued demand for homes throughout our nationally-ranked major markets here in the Triangle Area of Raleigh, Durham, and Chapel HIii, as well as, Charlotte, Winston Salem, and our Asheville mountains market. Do you have questions about making a move, what your home might be worth, or what is involved in putting a home up for sale? Let our professional REALTORS® here at ERA Live Moore walk you through the entire process-all while adhering to CDC guidelines and utilizing our leading edge technology to showcase available properties in the safest way possible. We are always available to answer any questions you may have! We are pleased to share our real estate knowledge with you and we wish everyone good health for this second quarter and the remainder of 2021!
Eb Moore President & CEO ERA Live Moore, A Wilkinson ERA Company
THE TRIANGLE AREA
RESIDENTIAL SALES SUMMARY The first quarter for the Triangle Area residential real estate market continued an upward trend in home sales and median sales price for both the Raleigh and Durham Metro areas. The steady increase of out-of-town buyers entering the market has created a demand for housing that con tinues today, unprecedented. Statistics from the first quarter of 2021 have presented some staggering results: Key observations from this First Quarter 2021 ERA Live Moore Area Market Report are: -Homes in Raleigh & Durham are selling for 101% of asking price in this active seller's market! -Days on Market for both Raleigh and Durham are down -40.74% and -39.13%, respectively, moving closer and closer to single-digit results and further solidifying this "seller's market" for 2021. -All of the markets we serve in this report have Inventory (or Month's Supply) below 2 months, the lowest number of available homes for sale in a Ql of any recent years. -The Median Sales Price increased in every market, with some areas showing double-digit increases on Q1 2020! Measured, single-digit growth in line with inventory and closed sales was seen in Raleigh and Durham, High Point, and Asheville. Winston-Salem showed the largest price gains with a l 7.72% increase in Median Sales Price over Ql 2020 results, hitting the $200,000 mark.
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
RALEIGH
&
DURHAM Residential RALEIGH
(City)
JAN THROUGH MAR
2021
AVG Days on Market
16
Total Closed Homes
2020
%CHANGE
27
-40.74%
1,969
1,911
2.18%
Median Sales Price
$322,000
$299,000
7.69%
AVG Months Supply
0.8
1.5
-50.00%
AVG Price Per Sq Ft
$187.00
$165.00
14.02%
Total New Listings
2,375
2,745
-13.89%
List to Sales Price Ratio
101%
99%
2.02%
-------DURHAM
JANUARY - MARCH
(City)
JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
14
23
-39.13%
Total Closed Homes
1,083
1,071
1.12%
Median Sales Price
$305,000
$278,000
9.71%
AVG Months Supply
0.7
1.63
-57.06%
AVG Price Per Sq Ft
$179.00
$160.00
11.88%
Total New Listings
1,333
1,474
-9.57%
List to Sales Price Ratio
101%
99%
2.02%
--------
JANUARY - MARCH 3
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
CHARLOTTE
CI TY Residential Da s on Market
2021
2020
24
38
List to Sales Price Ratio
2021 100%
2020 99%
%CHANGE
-36.84%
%CHANGE
1.01%
Median Sales Price
2020
%CHANGE
%CHANGE
3,786
2020
3,640
2021
2020
%CHANGE
$265,000
Sold Homes I Closed Sales
2021
16.26%
4.01%
Months Supply 0.8
1.6
-50.00%
2020
%CHANGE
2020
%CHANGE
Price Per S $166.70
4,969
14.9%
-4.75% 4
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
MECKLENBURG CQ LJ NTY Residential Including Charlotte, Cornelius, Davidson, Huntersville
Da s on Market
2021 25
2020
%CHANGE
41
-39.02%
2020
%CHANGE
List to Sales Price Ratio 100%
Median Sales Price
Sold Homes I Closed Sales
Months Su
99%
1.01%
2020
%CHANGE
$278,605
16.11%
2020
%CHANGE
4,418
4.84%
2020
%CHANGE
1.43
-58.82%
2020
%CHANGE
$164.18
15.98%
2020
%CHANGE
Price Per S $189.33
6,025
-6.00% 5
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA COUNTIES
Residential
CABARRUS COUNTY Including Concord, Harrisburg JAN THROUGH MAR
2021
2020
AVG Days on Market
20
46
Total Closed Homes
854
853
0.12%
Median Sales Price
$286,500
$255,725
12.03%
AVG Months Supply
1.5
1.6
-6.25%
AVG Price Per Sq Ft
$142.87
$125.60
13.75%
Total New Listings
971
1,150
-15.57%
List to Sales Price Ratio
100%
98%
2.04%
--------
%CHANGE
-56.52%
JANUARY - MARCH
UN ION COUNTY Including Monroe, Waxhaw, Wedddington JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
24
51
-52.94%
Total Closed Homes
906
899
0.78%
Median Sales Price
$349,950
$310,000
12.89%
AVG Months Supply
0.6
1.8
AVG Price Per Sq Ft
$157.07
$134.18
Total New Listings
1294
1,396
-7.31%
List to Sales Price Ratio
100%
98%
2.04%
--------
-66.67% 17.06%
JANUARY - MARCH 6
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA
COUNTIES YORK COUNTY, SC
Residential
Including Fort Mill, Lake Wylie, Rock Hill
2021
2020 45
-57.78%
Total Closed Homes
1,206
1,090
10.64%
Median Sales Price
$297,990
$269,250
10.67%
AVG Months Supply
0.6
AVG Price Per Sq Ft
$151.64
$133.18
13.86%
Total New Listings
971
1,150
-15.57%
List to Sales Price Ratio
100%
JAN THROUGH MAR AVG Days on Market
19
1.8
99%
%CHANGE
-66.67%
1.01%
JANUARY - MARCH -------------
LANCASTER COUNTY, SC JAN THROUGH MAR
2021
2020
%CHANGE
53
-45.28%
AVG Days on Market
29
Total Closed Homes
500
461
8.46%
Median Sales Price
$335,000
$300,900
11.33%
AVG Months Supply
0.9
2.6
-65.38%
AVG Price Per Sq Ft
$143.77
$130.21
10.41%
Total New Listings
558
622
-10.29%
99%
99%
0.00%
------List to Sales Price Ratio
7
Including Lancaster, Indian Land
JANUARY - MARCH
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
WINSTON SALEM &
HIGH PQINTResidential WINSTON SALEM JAN THROUGH MAR
2021
2020
AVG Days on Market
29
41
-29.27%
Total Closed Homes
913 $200,000
767
19.04%
$169,900
17.72%
AVG Months Supply
0.9
1.9
-52.63%
AVG Price Per Sq Ft
$142.37
$103.38
37.72%
Total New Listings
1,074
1,229
-12.61%
List to Sales Price Ratio
100%
98%
2.04%
Median Sales Price
--------
%CHANGE
JANUARY - MARCH
HIGH POINT JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
25
35
-28.57%
Total Closed Homes
391
312
21.43%
Median Sales Price
$182,500
$175,950
3.72%
AVG Months Supply
0.9
2.0
-55.00%
AVG Price Per Sq Ft
$91.86
13.12%
Total New Listings
$103.91 452
413
9.44%
List to Sales Price Ratio
99%
97%
2.06%
--------
JANUARY - MARCH 8
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
GREENSBORO Residential
GREENSBORO JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
23
42
1099
-45.24%
944
16.42%
Median Sales Price
$195,995
$175,000
AVG Price Per Sq Ft
List to Sales Price Ratio
100%
Total Closed Homes AVG Months Supply
Total New Listings
----------
12.00%
$121.27
1.7
-52.94%
$108.88
1,144
1,249
-8.41%
0.8
JANUARY - MARCH
98%
11.38% 2.04%
ERA LIVE MOORE REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
ASHEVILLE Residential
ASHEVILLE JAN THROUGH MAR
2021
2020
AVG Days on Market
51
72
-29.17%
Total Closed Homes
559
456
20.22%
Median Sales Price
$355,000
$335,000
5.97%
AVG Months Supply
1.5
3.1
-51.61%
AVG Price Per Sq Ft
$245.62
$221.37
10.95%
Total New Listings
595
609
-2.30%
List to Sales Price Ratio
99%
97%
2.06%
--------
%CHANGE
JANUARY - MARCH
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