Charlotte Area Market Stats – August 2020 | Apex Realty of the Carolinas
In August, showings and pending sales remained at strong levels. Housing inventory remained limited in many segments, continuing the competitive bidding seen across much of the market in recent months. As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal.
While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID19 may have on the financial and housing markets, the healthy housing demand we see today will create significant opportunities in the near term.
Here’s a snapshot of the Charlotte market real estate activity for August 2020 (compared to August 2019):
- New Listings were down 1.4 percent to 4,807.
- Pending Sales increased 25.6 percent to 5,020.
- Homes Sold decreased 3.1 percent to 4,187.
- Inventory shrank 50.2 percent to 4,283.
- Prices continued to move higher as Median Sales Price was up 13.7 percent to $298,975.
- Months’ Supply of Homes for Sale was down 54.2 percent to 1.1, which continues to be the lowest level of inventory our market has seen.
Our agents at Apex Realty of the Carolinas are real estate experts in markets throughout North and South Carolina, representing home sellers and buyers across the region. Our firm continues to seek innovative ways to provide the best quality information and marketing online for home sellers and buyers.
Our market expertise, use of virtual home tours, drone technology for aerial and neighborhood views, e-signing, and video conferencing for seller and buyer consultations allows us to present our clients with the best, most convenient methods to close the deal.
If you have any questions regarding the overall Charlotte market or activity in your specific or desired neighborhood, please feel free to give us a call or send us a message. One of our agents will be glad to assist you!