Q2 2021 ERA Live Moore Area Market Report

Page 1

ERA LIVE l.\1OORE

REAL ESTATE

2021 Second Quarter Market Coverage Report PREPARED FOR THE AREAS WE SERVE

www.ERALiveMoore.com


mailing area as reflected in the respectiv ot guaranteed. Consult your ERA Live Moore


ERA LIVE MOORE REAL ESTATE Q2 REAL ESTATE MARKET UPDATE

2021

Friends, Clients, Colleagues, Welcome to the 2021 mid-year mark. We continue to be grateful to have the privilege of working with you in the Triangle Area and the other major markets we proudly serve throughout the Carolinas. This summer finally feels like the pre-COVID summer days of 2019 as our local businesses open their doors; from dining rooms and theaters, to concert venues and government buildings. Despite our collective optimism, we will continue to be vigilant and maintain the highest safety standards and showing protocols that insure safety for both our agents and their clients. The housing market in the Triangle Area and throughout North Carolina is experiencing unprecedented demand from buyers who are coming to our larger metro areas. Mortgage rates remain attractive to buyers, however a growing percentage of cash buyers are entering the market, many coming from states with a higher cost of living, a rising remote-worker population, and those moving from "climate crisis" areas. While we remain in a solid "seller's market", many buyers are facing an impossible-to-ignore shortage of homes on the market and continue to find our area sta­ tistics 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 third quarter of 2021? Pretty much a mirror image of the second quarter, with Median List Prices continuing to climb and demand for homes at an all-time-high. The Median Sales Price for a home in Raleigh is at $370,000, up 23.95% since the second quarter of 2020 and we are confident the rising median price and low housing inventory will most definitely continue into the third and fourth quarters of 2021. We expect to see continued demand for homes throughout the Triangle Area, as well as, other internationally-ranked major markets in Charlotte, Winston Salem, and the mountains market in Asheville and Hendersonville. You may 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 Real Estate guide you through the entire process-We are always available to answer any questions you may have! Eb Moore President & CEO ERA Live Moore & Wilkinson ERA Real Estate


TRIANGLE REGION

RESIDENTIAL SALES SUMMARY The second quarter for the Triangle Region residential real estate market tells a well-told tale of shrinking inventory throughout the area. It also showed an increase in New Listings, which was met with great buyer enthusiasm and a 25.3% increase in sold homes in the second quarter in Raleigh. As we enter the third quarter we see a continued rise in the Median Sales Price and Price Per Square Foot. Buyer demand and the low inventory have resulted in a record low of 9 Days on Market.

Key observationsfrom this Second Quarter 2021 Charlotte Area Market Report are: -Wow! Homes in Raleigh are selling for a record 104% of asking price in this active seller's market! -New Listings in Raleigh are edging upwards with an increase of new homes on market by 10.98% over 2020 results. -Once again, the second quarter of 2021 records the lowest Months Supply this year-to-date and unprecedented in recent years, with .7 in Raleigh and .6 in Durham. -Days on Market in both Raleigh and Durham dropped to 9 and 8 respectively-Record lows! -Median Sales Price increased throughout the Triangle Region over 2020 results, hitting the $370,000 mark for residential real estate in Raleigh and $335,000 in Durham.


ERA LIVE MOORE REAL ESTATE 2021 Q2 REAL ESTATE MARKET UPDATE

RALEIGH

&

DURHAM Residential RALEIGH

(City)

APRIL THROUGH JUNE

2021

2020

AVG Days on Market

9

Total Closed Homes

17

2,767

2,269

%CHANGE

-47.06% 21.9%

Median Sales Price

$370,000

$298,500

AVG Price Per Sq Ft

0.7

-56.25%

$203.00

1.6

2632

10.98%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

DURHAM

2921

104%

$166.00 99%

23.95%

22.29% 5.05%

APRIL- JUNE

(City)

APRIL THROUGH JUNE

2021

2020

%CHANGE

AVG Days on Market

8

23

-46.67%

Total Closed Homes

1,517

1,358

11.71%

Median Sales Price

$335,000

$285,000

17.54%

AVG Price Per Sq Ft

0.6

1.8

$199.00

$160.00

24.38%

105%

99%

6.06%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

1614

1530

-66.67% 5.49%

JANUARY - MARCH 3


The Median Sales Price in

2021 for a single family home in Raleigh is $370,000 for a year over year increase of 23.95%* Raleigh Occupied Housing Units**

43% of homes in Raleigh are renter-occupied households & 62% rent for between $1,001-1,500 per month

As of March, 2021, the Average Month's Rent in Raleigh is $1,485

The Median Sales Price in 2021 for a single family home in Durhamis $335,000 for a year over year increase of 17.54%*


WILKINSON ERA REAL ESTATE

2021 Q2 REAL ESTATE MARKET UPDATE

CHARLOTTE

CI TY Residential Da

2021

2020

%CHANGE

19

29

-34.48%

List to Sales Price Ratio

2021 102%

2020 99%

%CHANGE

3.03%

Median Sales Price

2020 $285,000

Sold Homes I Closed Sales

2021

4,953

2020 3,953

%CHANGE

19.30%

%CHANGE

25.30%

Months Supply

2021

2020

%CHANGE

0.7

1.7

-58.82%

2020

%CHANGE

$175.14

19.67%

2020

%CHANGE

4,857

13.71%

4


WILKINSON ERA REAL ESTATE

2020 Q2 REAL ESTATE MARKET UPDATE

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

Da

2021

2020

%CHANGE

10

35

-71.43%

2020

%CHANGE

List to Sales Price Ratio 102%

Median Sales Price

Sold Homes I Closed Sales

99%

3.03%

2020

%CHANGE

$334,775

11.85%

2020

%CHANGE

1,134

18.87%

2020

%CHANGE

1.8

2020 $169.99

-66.67%

%CHANGE

$140.17

21.27%

2020

%CHANGE

1234

25.77%

6 6


WILKINSON ERA REAL ESTATE

2021 Q2 REAL ESTATE MARKET UPDATE

CHARLOTTE-AREA COUNTIES

Residential

CABARRUS COUNTY Including Concord, Harrisburg APRIL THROUGH JUNE

2021

2020

AVG Days on Market

12

Total Closed Homes

33

1062

974

%CHANGE

-63.64% 9.03%

Median Sales Price

$302,150

$265,000

AVG Price Per Sq Ft

0.5

1.5

-66.67%

$155.12

1177

13.25%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

1333

102%

$129.02 99%

14.02%

20.23% 3.03%

APRIL- JUNE

UN ION COUNTY Including Monroe, Waxhaw, Wedddington APRIL THROUGH JUNE

2021

2020

%CHANGE

AVG Days on Market

10

-71.43%

Total Closed Homes

1348

35 1,134

18.87%

Median Sales Price

$374,450

$334,775

11.85%

AVG Price Per Sq Ft

0.6

1.8

$169.99

$140.17

102%

99%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

1552

1234

-66.67%

21.27%

25.77% 3.03%

APRIL- JUNE 7


WILKINSON ERA REAL ESTATE

2021 Q2 REAL ESTATE MARKET UPDATE

CHARLOTTE-AREA

COUNTIES

Residential

YORK COUNTY, SC Including Fort Mill, Lake Wylie, Rock Hill APRIL THROUGH JUNE

2021

2020

%CHANGE

35

1,574

-62.86%

1,464

Median Sales Price

$326,450

7.51%

$282,995

AVG Price Per Sq Ft

List to Sales Price Ratio

102%

AVG Days on Market Total Closed Homes AVG Months Supply

Total New Listings

13

0.6

15.36%

$165.24

1.73

$137.21

-65.32%

1747

1514

15.39%

99%

20.43% 3.03%

APRIL- JUNE -------------

LANCASTER COUNTY, SC Including Lancaster, Indian Land APRIL THROUGH JUNE

2021

2020

AVG Days on Market

12

49

Total Closed Homes

616

545

Median Sales Price

$365,620

$319,000

AVG Price Per Sq Ft

$152.88

$130.11

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

8

0.6

573

101%

APRIL- JUNE

1.8

664

99%

%CHANGE

-75.51% 13.03%

14.61%

-66.67% 17.50% -13.70% 2.02%


WILKINSON ERA REAL ESTATE 2021 Q2 REAL ESTATE MARKET UPDATE

WINSTON SALEM

&

HIGH PQINTResidential WINSTON SALEM APRIL THROUGH JUNE

2021

2020

AVG Days on Market

15

Total Closed Homes

35

1199

1,041

15.18%

%CHANGE

-57.14%

Median Sales Price

$212,800

$185,000

AVG Price Per Sq Ft

0.9

1.9

$170.93

$110.96

-52.63% 36.94%

102%

1018 98%

3.68%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

1394

15.03%

54.05%

APRIL- JUNE

HIGH POINT APRIL THROUGH JUNE

2021

2020

%CHANGE

AVG Days on Market

15

42

-64.29%

Total Closed Homes

489

355

37.75%

Median Sales Price

$189,999

AVG Price Per Sq Ft

0.9

1.9

$112.41

$96.79

16.14%

101%

97%

4.35%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

599

$172,250

439

10.30%

-52.63% 36.45%

APRIL- JUNE 9


WILKINSON ERA REAL ESTATE

2021 Q2 REAL ESTATE MARKET UPDATE

ASHEVILLE Residential

ASHEVILLE APRIL THROUGH JUNE

2021

AVG Days on Market

37

Total Closed Homes

39

709

448

20.22%

2020

%CHANGE

-29.17%

Median Sales Price

$412,000

$336,732

AVG Price Per Sq Ft

1.3

-51.61%

$271.31

3.6

712

-2.30%

AVG Months Supply

Total New Listings

-------List to Sales Price Ratio

$215.72

853

97%

101%

5.97%

10.95% 2.06%

APRIL- JUNE

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ERA LIVE l.\1OORE

REAL ESTATE

1.4

HOMES SOLD

BILLION

IN SALES VOLUME

TOP1%

2020 Customer Satisfaction Rating

OF REAL ESTATE FIRMS NATIONWIDE

OFFICES TO SERVE YOU

850+ Agents


Wilkinson ERA Real Estate I www.WilkinsonERA.com


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