Charlotte NC Real Estate Market Update - FEB 2020
CHARLOTTE, NC – Home sales in Charlotte continued their positive run in January with 2,835 homes sold, a 6.8% year-over-year increase. While sales in January were positive, the reduced inventory pushed the number os sales lower than the previous month by 28/1%.
We continue to experience strong buyer demand with pending sales up 26.7% year-over-year. Pending sales were up 48.9% more than the month of December’s pending sales.
Prices continued to rise due to increasingly tight inventory with both the average ($297,821) and median($252,000) sales prices increasing 10.4% year-over-year. The list-to-sales price for the month of January, 2020 was 96.1%.
Despite the incredibly strong sellers market, sellers who prepare their homes properly do sell a lot faster than the average days on the market (the average number of days on the market were 47 last month). As well, buyers need to be educated as to our extremely tight inventory and being armed with a strong pre-approval letter is more important now than in any market.
Thinking of buying or selling real estate in Charlotte? Let’s talk! Call or text me at (704) 491-3310.
© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Charlotte NC Real Estate Market Update - FEB 2020
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