Charlotte NC Real Estate Update 6.2.20

Wilcox Real Estate Group

Wilcox Real Estate Group

Weekly Market Activity Report

For Week Ending May 23, 2020 (Data current as of June 1, 2020)

More than 4.1 million homeowners are now in mortgage forbearance plans, according to the Mortgage Bankers Association’s latest survey. Homeowners affected by COVID-19 with a federally backed home loan can delay mortgage payments for up to a year as part of the CARES Act passed by Congress. While the latest numbers are an increase from last week, it was the smallest increase since March 10.

 

Charlotte Region

For the week ending May 23:

  • New Listings decreased 20.6% year-over-year to 1,179

  • Pending Sales increased 17.4% year-over-year to 1,447

  • Inventory decreased 28.5% year-over-year to 7,544

 

For the month of April:

  • Median Sale

  • s Price increased by 7.9% year-over-year to $274,500

  • List to Close decreased 6.3% year-over-year to 90

  • Percent of Original List Price Received increased 0.7% year-over-year to 97.7%

  • Months Supply of Homes for Sale decreased by 20.0% year-over-year to 2.0 months

 

For Week Ending May 23, 2020, Quick Facts Data current as of June 1, 2020

  • Mortgage rates have now been below 3.30 percent for four consecutive weeks, according to the latest update from Freddie Mac.

  •  These near-record low rates have been a catalyst for the recovering buyer activity in the housing market while

  • Sellers continue to maintain a little more cautious approach.


In the Charlotte region, for the week ending May 23:

 • New Listings decreased 20.6% to 1,179

 • Pending Sales increased 17.4% to 1,447

 • Inventory decreased 28.5% to 7,544

 

For the month of April:

 • Median Sales Price increased 7.9% to $274,500

 • List to Close decreased 6.3% to 90

 • Percent of Original List Price Received increased 0.7% to 97.7%

 • Months Supply of Homes for Sale decreased 20.0% to 2.

 

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported.

Current as of June 1, 2020. All data from Canopy MLS, Inc. The report provided by the Canopy Realtor® Association. Report © 2020 ShowingTime. 

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This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.