A Record – Over 50,000 Properties Sold in 2019 for Charlotte Region | 2020 Outlook
- 2019 ended with a flurry of housing activity, with home sales up 23 percent in December compared to a year ago.
- For all of 2019, there were 50,854 properties sold in the Charlotte region, which was a 5.9 percent increase from 2018.
- Pending sales ended the year up 8.9 percent in 2019 over pending sales for all of 2018. December figures showed demand soared 22.3 percent compared to last December as buyers continue to seek homes across the region.
- Prices continued to respond to strong seller’s market conditions, with the average list price in 2019 ($333,290) rising 4.6 percent over 2018’s average list price. The original list price to sales price measure for the year was 96.7 percent. The average sales price in 2019 rose 5.9 percent compared to 2018 to $303,722, while the median sales price, a better measure of prices over time, rose 7.6 percent to $255,000.
- New listing activity has been challenged for some time now, with listings absorbed almost as soon as they are listed. Listing activity for all of 2019 was essentially unchanged compared to 2018, rising 1.7 percent with 61,069 total new listings at year’s end. This will continue to impact inventory, which declined 23.9 percent in December and left the Charlotte region with 7,416 properties for sale at report time, or 1.7 months of supply. A year ago, in December 2018 the region had 9,747 properties for sale, or 2.4 months of supply.
- Showings Per Listing increased 2.9%, even with low inventory of homes for sale, indicating continued strong Buyer Demand
- 2020 Expectations – We expect continued sales growth in both the number of properties sold and Median Price – driven by continued strong Buyer Demand and low supply of homes (especially in the Under $500,000 segment).
For more information or if you have any questions, just each out to me at [email protected] or text/call 704-281-3913.