Wilkinson� REAL ESTATE
REAL ESTATE
RELOCATION AND CORPORATE SERVICES
www.WilkinsonERA.com
WILKINSON ERA REAL ESTATE REAL ESTATE YEAR IN REVIEW
2019
Friends, Clients, Colleagues, What an incredible decade for real estate across the country and in particular here in Charlotte. Record-breaking sales, economic growth, and a more diverse city, has positioned us for success and we couldn't be happier or more grateful to have had the privilege of working with you over this past year. 2019 was no different than 2018 in many respects; another record-breaking sales year for both Wilkinson ERA and the Charlotte area's residential market, higher Median Sales Price, and celebration once again as Wilkinson ERA finished the year as the number one ERA real estate firm in the Carolinas and the number two ERA firm in the nation! We continue to acknowledge and recognize the hard work and achievement that placed so many of our Sales Associates in the Top 100 Producer category. 2020 is an exciting year for Charlotte! Not only are we beginning a new decade of real estate, we are starting to witness a city that is responding the demands placed upon it by a growing population; an increasingly diverse workforce, greater consumer confidence, and a boom in new construction that offers competitively priced inventory compared to other top-tier markets in the country. Inventory continues to be an urban challenge with Months Supply dropping again in 2019 by -1.04% on 2018 figures. With the advent of spring approaching, we're seeing the selling season move up in the calendar to January and February. Warmer winter? Buyer demand? Perhaps a combination of the two. Former talk of market corrections have all but fallen to the wayside as Charlotte experiences continued economic growth. Maintaining the demand for affordable housing will be a real concern for first-time buyers and buyers in the under $500k bracket. We expect the Charlotte region to sustain a demand for real estate throughout the year and into 2021. Our vibrant markets in Winston-Salem, Asheville, and Raleigh-Durham have also demonstrated consistent growth. Relocation to the Carolinas is being driven by industry and media. Forbes recently ranked 14 North Carolina cities in its Best Places to Live list. Winston-Salem (locals call it Winston!) is strategically located just three hours from the coast and an hour from the Blue Ridge Parkway. Affordability is the buzz word in the Triad, with the Median Sales Price holding strong at $167,000, 6.37% higher than 2018. Raleigh-Durham follows a similar trajectory with both cities experiencing a higher Median Sales Price, but New Listings and List Price to Sales Price ratios are on par with 2018 results. As our beautiful mountain city of Asheville grows and expands outward, more opportunities for housing present themselves. Wilkinson ERA has so much to offer! We are excited about the year ahead and ready to assist you, your clients, and your transferees moving into and out of the markets we serve. It has been our sincere plea sure to work with you and we look forward to a wonderful year ahead! Joan Harpootlian Thomas, SCRP GMS President, Relocation and Corporate Services Wilkinson ERA Real Estate
CHARLOTTE
RESIDENTIAL SALES SUMMARY In 2019, the Charlotte residential real estate market finished the decade on a high. With record home sales, average and median sales prices, and an inventory that has placed Charlotte in the top ten U.S. housing markets, Charlotte's housing boom is likely to continue through 2020. The shortage of housing continues to drive home prices upward, with more buyers looking to buy in both established neighborhoods and communities in transition. Charlotte home sales in 2019 were higher in sales volume than 2018 and the number of homes sold increased by almost 4% on the previous year. The Median Sales Price for a single-family home or condo in Charlotte last year was $258,730, a notable increase of 8.76%! The Average Price Per Square Foot has risen 7.10%, which is consistent with buyer demand and rising home prices. Forecasts for 2020 project a steady increase in sales, driven largely by a solid job economy, educated work force and affordability in comparison with top-tier housing markets like New York, Chicago, Miami, etc.. The changing job market in Charlotte has at-traced a talented and diverse workforce, largely driven by the millennial age group, seeking more affordable housing with an urban footprint. Consumer confidence remains strong and Charlotte stands to benefit from the effects of this for at least the first half of 2020.
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
CHARLOTTE
CI TY Residential Da s on Market
2018 30
List to Sales Price Ratio
2018 99%
2019
%CHANGE
2019
%CHANGE
34
98%
13.33%
-1.01%
Median Sales Price
Sold Homes I Closed Sales
2018
15,948
2019
%CHANGE
$258,730
8.76%
2019
%CHANGE
2019
%CHANGE
2019
%CHANGE
2019
%CHANGE
16,556
3.81%
Months Supply
2018 1.93
1.91
-1.04%
Price Per S $160.43
19,851
7.10%
1.66%
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
MECKLENBURG CQ LJ NTY Residential Including Charlotte, Cornelius, Davidson, Huntersville
Da s on Market
2018
2019
33
37
%CHANGE
12.12%
List to Sales Price Ratio 99%
Median Sales Price
Sold Homes I Closed Sales
2019
%CHANGE
2019
%CHANGE
$270,000
7.14%
2019
%CHANGE
2019
%CHANGE
98%
21,045
Months Su
2.11
-1.01%
5.08
1.93%
Price Per S $148.58
2019
%CHANGE
2019
%CHANGE
$157.17
25,240
5.78%
2.35%
The Median Sales Price in 2019 for a single family home in Charlotte was $258,730 for a
Apartment occupancy in Charlotte remains healthy in 2019, up a percentage point on 2018 results, at 96.2%*
year over year increase of 8.76%
The Median Sales Price in 2019 for a single family home in Mecklenburg County was $270,000 for a
year over year increase of 7.14%
In 2019, the average month's rent in Charlotte was $1,147 ( $250 less than the national average of $1,393*) *Charlotte Business Journal 2019
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
CHARLOTTE-AREA COUNTIES
Residential
CABARRUS COUNTY Including Concord, Harrisburg JAN THROUGH DEC
2018
2019
%CHANGE
AVG Days on Market
36
39
8.33%
Total Closed Homes
3,852 $224,853
4,085
6.05%
$245,000
8.96%
AVG Months Supply
2.28
2
-12.28%
AVG Price Per Sq Ft
$111.66
$118.82
6.41%
Total New Listings
4,955
4,777
-3.59%
List to Sales Price Ratio
99%
98%
-1.01%
Median Sales Price
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JANUARY - DECEMBER
UN ION COUNTY Including Monroe, Waxhaw, Wedddington JAN THROUGH DEC
2018
2019
%CHANGE
AVG Days on Market
46
46
0%
Total Closed Homes
4,220
4,498
6.59%
Median Sales Price
$300,000
$305,000
1.67%
AVG Months Supply
2.75
2.36
AVG Price Per Sq Ft
$131.64
4.85%
Total New Listings
$125.55 5,265
5,381
2.20%
List to Sales Price Ratio
98%
98%
0%
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-14.18
JANUARY - DECEMBER 6
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
CHARLOTTE-AREA
COUNTIES YORK COUNTY, SC
Residential
Including Fort Mill, Lake Wylie, Rock Hill
2018
2019 43
2.38%
Total Closed Homes
4,978
5,530
11.09%
Median Sales Price
$255,728
$268,000
4.80%
AVG Months Supply
2.47
2.32
-6.07%
$122.48
$129.70
5.89%
Total New Listings
6,163
6,504
5.53%
List to Sales Price Ratio
98%
99%
0.71%
JAN THROUGH DEC AVG Days on Market
AVG
Price Per Sq Ft
42
%CHANGE
JANUARY - DECEMBER -------------
LANCASTER COUNTY, SC JAN THROUGH DEC AVG Days on Market
2018 56
2019
%CHANGE
50
-10.71%
Total Closed Homes
1,850
1,957
5.78%
Median Sales Price
$279,000
$299,990
7.5%
AVG Months Supply
3.07
2.75
-10.42%
Price Per Sq Ft
$118.94
$125.52
5.53%
Total New Listings
2,223
2,313
4.05%
List to Sales Price Ratio
98%
99%
1.02%
AVG
7
Including Lancaster, Indian Land
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JANUARY - DECEMBER
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
WINSTON SALEM &
HIGH PQINTResidential WINSTON SALEM JAN THROUGH DEC
2018
2019
AVG Days on Market
45
39
-13.33%
Total Closed Homes
3,895
3,950
1.41%
Median Sales Price
$157,000
$167,000
6.37%
AVG Months Supply
2.62
2.19
-16.41%
AVG Price Per Sq Ft
$96.25
$114.64
19.11%
Total New Listings
4,670
4,590
-1.71%
List to Sales Price Ratio
98%
98.55%
.56%
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%CHANGE
JANUARY - DECEMBER
HIGH POINT JAN THROUGH DEC
2018
AVG Days on Market
48
Total Closed Homes
2019
%CHANGE
40
-16.67%
1,534
1,550
1.04%
Median Sales Price
$152,950
$161,000
5.26%
AVG Months Supply
2.86
2.34
-18.18
AVG Price Per Sq Ft
$89.37
$89.60
.26%
Total New Listings
1,810
1,860
2.76%
List to Sales Price Ratio
97%
97%
.83%
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JANUARY - DECEMBER 8
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
GREENSBORO Residential
GREENSBORO
Triad
JAN THROUGH DEC
2018
2019
%CHANGE
AVG Days on Market
47
39
-17.02%
Total Closed Homes
4,129
4,419
7.02%
Median Sales Price
$163,000
$175,000
7.36%
AVG Months Supply
2.52
2.67
5.95%
$100.52
$105.71
5.16%
Total New Listings
4,953
5,175
4.48%
List to Sales Price Ratio
98%
AVG
Price Per Sq Ft
98%
JANUARY - DECEMBER ---------
0%
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
ASHEVILLE Residential
ASHEVILLE
Mountains
JAN THROUGH DEC
2018
2019
%CHANGE
AVG Days on Market
55
66
20.00%
Total Closed Homes
2,081
2,265
-8.84%
Median Sales Price
$307,000
$318,000
3.58%
AVG Months Supply
3.7
4.0
8.11%
AVG Price Per Sq Ft
$194.00
$206.98
6.90%
Total New Listings
2,875
2,837
-1.32%
List to Sales Price Ratio
97%
97%
0%
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JANUARY - DECEMBER
10
WILKINSON ERA REAL ESTATE 2019 REAL ESTATE YEAR IN REVIEW
RALEIGH
&
DURHAM Residential RALEIGH JAN THROUGH DEC
2018
AVG Days on Market
24
Total Closed Homes
2019
%CHANGE
27
12.50%
8,874
9,110
2.66%
Median Sales Price
$271,500
$279,000
2.76%
AVG Months Supply
2.08
1.68
-19.23%
AVG Price Per Sq Ft
$166.00
$159.00
-4.22%
Total New Listings
10,633
10,631
-0.02%
List to Sales Price Ratio
99%
99%
0%
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JANUARY - DECEMBER
DURHAM JAN THROUGH DEC
2018
2019
%CHANGE
AVG Days on Market
21
24
14.29%
Total Closed Homes
4,685
5,131
9.52%
Median Sales Price
$252,000
$270,000
7.14%
AVG Months Supply
1.64
1.89
15.24%
AVG Price Per Sq Ft
$142.00
$193.00
35.92%
Total New Listings
5,483
5,994
9.32%
List to Sales Price Ratio
100%
99%
-1.00%
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JANUARY - DECEMBER 11
Wilkinson� REAL ESTATE REALESTATE
1.4
HOMES SOLD
BILLION
IN SALES VOLUME
TOP1%
2019 Customer Satisfaction Rating
OF REAL ESTATE FIRMS NATIONWIDE
OFFICES TO SERVE YOU
850+ Agents
OUR RELOCATION TEAM Joan Harpootlian Thomas, SCRP, GMS President, Reloca tion and Corporate Services 0: 704-815-9303 Joan.Thomas@WilkinsonERA.com Allie Thomas, CRP, GOS Vice President, Relocation and Corporate Services 0: 704-815-9305 Allie.Thomas@WilkinsonERA.com Tracy Hill Vice President, Business Development Charlotte and Raleigh-Durham 704-575-9545 Tracy.Hill@WilkinsonERA.com Melissa Gilleland Assistant Relocation Counselor 0: 704-815-9317 Melissa.Gilleland@WilkinsonERA.com Stacy Warren Relocation Counselor 0: 704-815-9313 Stacy.Warren@WilkinsonERA.com Tricia Hodge Senior Relocation Counselor 0: 704-815-0462 Tricia.Hodge@WilkinsonERA.com
Main Relocation Line 704-815-0463
Wilkinson� REAL ESTATE REAL ESTATE
RELOCATION AND CORPORATE SERVICES
Wilkinson ERA Real Estate I www.WilkinsonERA.com