2021FI RSTQUARTERMARKETREPORT
F r i ends , Cl i ent s , Col l ea gues , Onc ea ga i n, wea r ei nc r edi bl ygr a t ef ul t oha v eha dt hepr i v i l egeofwor k i ngwi t hy oudur i ngt he r s t qua r t erof2021. T hi ss pr i ng, a sournei ghbor hoodsbegi nt obl os s om a ndbl oom a ndt emper a t ur esoffera nea r l yhi nta t t heupc omi ngs ummers ea s on, weha v egr ea tr ea s ont obeopt i mi s t i c . T her e‘ saf eel i ngi nt hea i rt ha t wea r ebegi nni ngt oopenup. Bus i nes s esa r ewel c omi ngba c kpa t r ons , out doorv enuesa r ei nc r ea s i ng t hei ra udi enc ec a pa c i t i esa ndpl a nni ngt hey ea r ’ si nper s onev ent s , a ndwea r ei nc r edi bl yex c i t edt o begi nmeet i ngourc l i ent sa ndpeer s , bot hi nper s ona ndi ngr ea t ernumber s —t ha ts a i d, wewi l l c ont i nuet oma i nt a i nt hehi ghes ts a f et ys t a nda r dsa nds howi ngpr ot oc ol st ha ti ns ur es a f et yf orbot hour a gent sa ndt hei rc l i ent s . Aswec ont i nuet omov ea hea di nt ot hes ec ondqua r t er , wea r es ur r oundedbya l l t hes i gnsi nt he ma r k ett ha tt el l usi t ’ ss pr i ng—wea r ewa t c hi ngourma j orma r k et sex per i enc eac ont i nueddema ndf or newa ndex i s t i ngpr oper t i esf r om buy er s , whoa r edr i v enl a r gel ybyt hea ffor da bl emor t ga ger a t esa nd a nec onomi cc l i ma t et ha ti swel c omi ng. I tc omeswi t ht heunder s t a ndi ng, howev er , t ha tt heywi l l mos t c er t a i nl yf a c eunpr ec edent edc ompet i t i onf oras hr i nk i ngi nv ent or y . T hi sbodeswel l f ort hec ur r ent “ s el l er ‘ sma r k et ” , wher er ea l es t a t es a l ess t a t i s t i c sa r es queez edt obot ht hel owes t( Da y sonMa r k et ) a nd hi ghes t( L i s tPr i c et oS a l esPr i c e) endsoft hes pec t r um. Wha ta r eourr ea l es t a t epr edi c t i onsf ort hes ec ondqua r t erof2021?Wi t ht heMedi a nL i s tPr i c ei n Cha r l ot t ea t$308, 100, up16. 3%s i nc eQ12020, t her i s i ngmedi a npr i c ea ndl owhous i ngi nv ent or ywi l l mos tl i k el yc ont i nuei nt ot hes ec onda ndt hi r dqua r t er s . Weex pec tt os eec ont i nueddema ndf or homest hr oughoutourna t i ona l l y r a nk edma j orma r k et si nCha r l ot t e, Wi ns t onS a l em, a ndRa l ei gha nd t heT r i a ngl eAr ea , a swel l a s , ourAs hev i l l emount a i nsa r ea . Doy ouha v eques t i onsa boutma k i ngamov e, wha ty ourhomemi ghtbewor t h, orwha t i si nv ol v edi nput t i ngahomeupf ors a l e?L etourpr of es s i ona l RE AL T ORS ®her ea tWi l k i ns onE RAwa l k y out hr ought heent i r epr oc es s —a l l whi l ea dher i ngt oCDCgui del i nesa ndut i l i z i ngourl ea di ngedge t ec hnol ogyt os howc a s ea v a i l a bl epr oper t i esi nt hes a f es twa ypos s i bl e. Wea r ea l wa y sa v a i l a bl et o a ns wera nyques t i onsy ouma yha v e! Wea r epl ea s edt os ha r eourr ea l es t a t ek nowl edgewi t hy oua ndwewi s hev er y onegoodhea l t hf ort hi s s ec ondqua r t era ndt her ema i nderof2021! E bMoor e Pr es i dent&CE O Wi l k i ns onE RARea l E s t a t e
CHARLOTTE AREA
RESIDENTIAL SALES SUMMARY The first quarter for the Charlotte Region residential real estate market continued an upward trend in home sales and median sales price for both the Charlotte Metro area and Mecklenburg County. The steady increase of out-of-town buyers entering the market has created a demand for housing that is unprecedented. Statistics from the first quarter of 2021 have presented some staggering results: Key observationsfrom this First Quarter 2021 Charlotte Area Market Report are:
-Homes in Charlotte are selling for 100% of asking price in this active seller's market! -Days on Market for both City of Charlotte and Mecklenburg County are down 37% and 39% respectively, moving closer and closer to single-digit results and solidifying this "seller's market". -All of the markets we serve in this report have Inventory (or Month's Supply) below 2 months, the lowest number of available homes for sale in a Q1 of any recent years. -The Median Sales Price increased in every market, with some areas showing double-digit increases on Q1 2020! Measured, single-digit growth in line with inventory and closed sales was seen in Raleigh and Durham, High Point, and Asheville. Winston-Salem showed the largest price gains with a 17.72% increase in Median Sales Price over Ql 2020 results, hitting the $200,000 mark.
r
CHARL OTTE CI TYResidential DaysonMar ket Januar y t hr ough Mar ch
43
Li stt oSal esPr i ceRat i o
43
43
J anuar y t hr ough Mar ch
Medi anSal esPr i ce Januar y t hr ough Mar ch
Sol dHomes/Cl osedSal es J anuar y t hr ough Mar ch
99%
3, 640
Mont hsSuppl y Januar y t hr ough Mar ch
1. 6
Pr i cePerSquar eFoot Januar y t hr ough Mar ch
$191. 66
$166. 70
14. 9%
4, 733
86 99 0 4, 9
4. 75%
New Li st i ngs Januar y t hr ough Mar ch
3
The Median Sales Price in 2020 for a single family home in Charlotte was $308,100 for a year over year increase of 16.26%
Charlotte Occupied Housing Units**
59% of homes are owner-occupied households and 40% are renter-occupied households .�
As of March, 2021,
the Average Month's Rent in Charlotte was$ 1,301 (a 3% increase on 2020)*
The Median Sales Price in Q1 2021 for a single family home in Mecklenburg County was $325,000 for a
year over year increase of 16.11%
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
MECKLENBURG CQ LJ NTY Residential Including Charlotte, Cornelius, Davidson, Huntersville
Da s on Market
2021 25
2020
%CHANGE
41
-39.02%
2020
%CHANGE
List to Sales Price Ratio 100%
Median Sales Price
Sold Homes I Closed Sales
Months Su
99%
1.01%
2020
%CHANGE
$278,605
16.11%
2020
%CHANGE
4,418
4.84%
2020
%CHANGE
1.43
-58.82%
2020
%CHANGE
$164.18
15.98%
2020
%CHANGE
Price Per S $189.33
6,025
-6.00% 5
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA COUNTIES
Residential
CABARRUS COUNTY Including Concord, Harrisburg JAN THROUGH MAR
2021
2020
AVG Days on Market
20
46
Total Closed Homes
854
853
0.12%
Median Sales Price
$286,500
$255,725
12.03%
AVG Months Supply
1.5
1.6
-6.25%
AVG Price Per Sq Ft
$142.87
$125.60
13.75%
Total New Listings
971
1,150
-15.57%
List to Sales Price Ratio
100%
98%
2.04%
--------
%CHANGE
-56.52%
JANUARY - MARCH
UN ION COUNTY Including Monroe, Waxhaw, Wedddington JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
24
51
-52.94%
Total Closed Homes
906
899
0.78%
Median Sales Price
$349,950
$310,000
12.89%
AVG Months Supply
0.6
1.8
AVG Price Per Sq Ft
$157.07
$134.18
Total New Listings
1294
1,396
-7.31%
List to Sales Price Ratio
100%
98%
2.04%
--------
-66.67% 17.06%
JANUARY - MARCH 6
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA
COUNTIES YORK COUNTY, SC
Residential
Including Fort Mill, Lake Wylie, Rock Hill
2021
2020 45
-57.78%
Total Closed Homes
1,206
1,090
10.64%
Median Sales Price
$297,990
$269,250
10.67%
AVG Months Supply
0.6
AVG Price Per Sq Ft
$151.64
$133.18
13.86%
Total New Listings
971
1,150
-15.57%
List to Sales Price Ratio
100%
JAN THROUGH MAR AVG Days on Market
19
1.8
99%
%CHANGE
-66.67%
1.01%
JANUARY - MARCH -------------
LANCASTER COUNTY, SC JAN THROUGH MAR
2021
2020
%CHANGE
53
-45.28%
AVG Days on Market
29
Total Closed Homes
500
461
8.46%
Median Sales Price
$335,000
$300,900
11.33%
AVG Months Supply
0.9
2.6
-65.38%
AVG Price Per Sq Ft
$143.77
$130.21
10.41%
Total New Listings
558
622
-10.29%
99%
99%
0.00%
------List to Sales Price Ratio
7
Including Lancaster, Indian Land
JANUARY - MARCH
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
WINSTON SALEM &
HIGH PQINTResidential WINSTON SALEM JAN THROUGH MAR
2021
2020
AVG Days on Market
29
41
-29.27%
Total Closed Homes
913 $200,000
767
19.04%
$169,900
17.72%
AVG Months Supply
0.9
1.9
-52.63%
AVG Price Per Sq Ft
$142.37
$103.38
37.72%
Total New Listings
1,074
1,229
-12.61%
List to Sales Price Ratio
100%
98%
2.04%
Median Sales Price
--------
%CHANGE
JANUARY - MARCH
HIGH POINT JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
25
35
-28.57%
Total Closed Homes
391
312
21.43%
Median Sales Price
$182,500
$175,950
3.72%
AVG Months Supply
0.9
2.0
-55.00%
AVG Price Per Sq Ft
$91.86
13.12%
Total New Listings
$103.91 452
413
9.44%
List to Sales Price Ratio
99%
97%
2.06%
--------
JANUARY - MARCH 8
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
GREENSBORO Residential
GREENSBORO JAN THROUGH MAR
2021
2020
%CHANGE
AVG Days on Market
23
42
1099
-45.24%
944
16.42%
Median Sales Price
$195,995
$175,000
AVG Price Per Sq Ft
List to Sales Price Ratio
100%
Total Closed Homes AVG Months Supply
Total New Listings
----------
12.00%
$121.27
1.7
-52.94%
$108.88
1,144
1,249
-8.41%
0.8
JANUARY - MARCH
98%
11.38% 2.04%
WILKINSON ERA REAL ESTATE 2021 Q1 REAL ESTATE MARKET UPDATE
ASHEVILLE Residential
ASHEVILLE JAN THROUGH MAR
2021
2020
AVG Days on Market
51
72
-29.17%
Total Closed Homes
559
456
20.22%
Median Sales Price
$355,000
$335,000
5.97%
AVG Months Supply
1.5
3.1
-51.61%
AVG Price Per Sq Ft
$245.62
$221.37
10.95%
Total New Listings
595
609
-2.30%
List to Sales Price Ratio
99%
97%
2.06%
--------
%CHANGE
JANUARY - MARCH
10
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L or e mI ps um
RAL E I GH&
DURHAM Residential DaysonMar ket Januar y t hr ough December
RAL E I GH
MAR
c I TY
432 3 0 1 8 2 0 2 1 4
Li stt oSal esPr i ceRat i o 1 6 J anuar y t hr ough Dec ember
Medi anSal es Pr i ceJanuary t hr ough December
2 0 1 9 2 0 2 0 4 3 2 7
4 0 . 7 4 %
1 , 9 6 9 $ 3 2 2 , 0 0 0
1 , 9 1 1 $ 2 9 9 , 0 0 0
2 . 1 8 %
0 . 8
1 . 5
$ 1 8 7 . 0 0 2 , 3 7 5
$ 1 6 5 . 0 0
1 0 1 %
2 , 7 4 5 9 9 %
7 . 6 9 % 5 0 . 0 0 % 1 4 . 0 2 % 1 3 . 8 9 % 2 . 0 2 %
A N U ARY-MARCH Sol dHomes/Cl osedJ S a l e s
99%
J anuar y t hr ough Dec ember
DURHAM
Mont hsSupp l y MA R Januar y t hr ough December
2 0 1 8 2 0 2 1
2 0 2 0 2 0 1 9
Pr i cePerSquar eFoot Januar y t hr ough December
$137. 13
$150. 71
9. 90%
New Li st i ngs Januar y t hr ough December
J ANUARY-MARCH 25, 091
24, 603
1. 94%
11