June 2020
monthly indicators report
While much of the country was working on a phased reopening of the economy in June,
real estate activity continued to strengthen as well. Nationally, June showing activity as
tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent
months but was also up from June 2019, reflecting pent-up demand by prospective
home buyers.
New Listings were down in the Charlotte region by 8.5 percent to 5,365. Pending Sales
increased 26.8 percent to 6,174. Inventory shrank 46.7 percent to 5,701.
Prices moved higher as Median Sales Price was up 7.5 percent to $284,900. Months
Supply of Homes for Sale was down 50.0 percent to 1.3., indicating that demand
increased relative to supply.
While buyer activity continues to be robust, seller activity continues to be a bit softer,
with fewer homes being listed for sale than a year ago. Many housing experts believe
sellers remain reluctant to list their homes due to continued concerns over COVID-19,
which was beginning to see a resurgence in June. Until sellers regain confidence,
housing inventory will continue to be constrained during what is expected to be an
active summer selling season.
Quick Facts
Year-Over-Year Change in Closed Sales
Year-Over-Year Change in Median Sales Price
Year-Over-Year Change in Homes For Sale
Closed Sales
A count of the actual sales that closed in a given month.
Average Sales Price
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Housing Affordability Index
This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of
what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability
Inventory of Homes for Sale
The number of properties available for sale in active status at the end of a given month.