Last week was the third week in a row that the Charlotte Real Estate Market remained very strong.

According to the Canopy MLS and ShowingTime from 5/25/2020 to 5/31/2020, Charlotte, NC saw 424 homes go under contract, versus 436 the prior week.  Inventory remained mostly flat as 426 new listings hit the market, 8% higher than the previous week’s 396.

There were 6,534 registered showings last week, 8% higher than the same week in 2019.

The Charlotte Market is absolutely back to 2019 levels.  Low interest rates are making things very competitive.  

The largest issues our customers continue to face when trying to purchase a home is the low inventory levels.  According to the MLS Statistical Analysis Model (SAM), inventory dropped in May from 1.7 month’s supply to 1.6 months.  That is the lowest point in the history available on supply dating back to January 2004.  It has only been matched previously between March 2018 to September 2018 when it was also at 1.6 months.  For those interested in these statistics, the highest supply in the history of the SAM was in March of 2007 when inventory hit the high of 12.7 months.  A balanced market is considered to be 6 month’s supply.

Another interesting stat is inventory by price range in Charlotte for Resale Homes:

  • 1.1 month’s inventory for homes under $249,999 in Charlotte
  • 1.8 month’s inventory for homes between $250,000 and $499,999
  • 2.8 month’s inventory for homes between $500,000 and $999,999
  • 6.0 month’s inventory for homes over $1,000,000

Please let me know if you have any questions or would like to see any homes in the Charlotte Metro and Surrounding Area.  I would be thrilled to assist you with your Real Estate needs.