ERA LIVE l.\1OORE
REAL ESTATE
2021 Second Quarter Market Coverage Report PREPARED FOR THE AREAS WE SERVE
www.ERALiveMoore.com
mailing area as reflected in the respectiv ot guaranteed. Consult your ERA Live Moore
ERA LIVE MOORE REAL ESTATE Q2 REAL ESTATE MARKET UPDATE
2021
Friends, Clients, Colleagues, Welcome to the 2021 mid-year mark. We continue to be grateful to have the privilege of working with you in the Triangle Area and the other major markets we proudly serve throughout the Carolinas. This summer finally feels like the pre-COVID summer days of 2019 as our local businesses open their doors; from dining rooms and theaters, to concert venues and government buildings. Despite our collective optimism, we will continue to be vigilant and maintain the highest safety standards and showing protocols that insure safety for both our agents and their clients. The housing market in the Triangle Area and throughout North Carolina is experiencing unprecedented demand from buyers who are coming to our larger metro areas. Mortgage rates remain attractive to buyers, however a growing percentage of cash buyers are entering the market, many coming from states with a higher cost of living, a rising remote-worker population, and those moving from "climate crisis" areas. While we remain in a solid "seller's market", many buyers are facing an impossible-to-ignore shortage of homes on the market and continue to find our area sta tistics squeezed to both the lowest (Days on Market) and highest (List Price to Sales Price) ends of the spectrum. What are our real estate predictions for the third quarter of 2021? Pretty much a mirror image of the second quarter, with Median List Prices continuing to climb and demand for homes at an all-time-high. The Median Sales Price for a home in Raleigh is at $370,000, up 23.95% since the second quarter of 2020 and we are confident the rising median price and low housing inventory will most definitely continue into the third and fourth quarters of 2021. We expect to see continued demand for homes throughout the Triangle Area, as well as, other internationally-ranked major markets in Charlotte, Winston Salem, and the mountains market in Asheville and Hendersonville. You may have questions about making a move, what your home might be worth, or what is involved in putting a home up for sale. Let our professional REALTORS® here at ERA Live Moore Real Estate guide you through the entire process-We are always available to answer any questions you may have! Eb Moore President & CEO ERA Live Moore & Wilkinson ERA Real Estate
TRIANGLE REGION
RESIDENTIAL SALES SUMMARY The second quarter for the Triangle Region residential real estate market tells a well-told tale of shrinking inventory throughout the area. It also showed an increase in New Listings, which was met with great buyer enthusiasm and a 25.3% increase in sold homes in the second quarter in Raleigh. As we enter the third quarter we see a continued rise in the Median Sales Price and Price Per Square Foot. Buyer demand and the low inventory have resulted in a record low of 9 Days on Market.
Key observationsfrom this Second Quarter 2021 Charlotte Area Market Report are: -Wow! Homes in Raleigh are selling for a record 104% of asking price in this active seller's market! -New Listings in Raleigh are edging upwards with an increase of new homes on market by 10.98% over 2020 results. -Once again, the second quarter of 2021 records the lowest Months Supply this year-to-date and unprecedented in recent years, with .7 in Raleigh and .6 in Durham. -Days on Market in both Raleigh and Durham dropped to 9 and 8 respectively-Record lows! -Median Sales Price increased throughout the Triangle Region over 2020 results, hitting the $370,000 mark for residential real estate in Raleigh and $335,000 in Durham.
ERA LIVE MOORE REAL ESTATE 2021 Q2 REAL ESTATE MARKET UPDATE
RALEIGH
&
DURHAM Residential RALEIGH
(City)
APRIL THROUGH JUNE
2021
2020
AVG Days on Market
9
Total Closed Homes
17
2,767
2,269
%CHANGE
-47.06% 21.9%
Median Sales Price
$370,000
$298,500
AVG Price Per Sq Ft
0.7
-56.25%
$203.00
1.6
2632
10.98%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
DURHAM
2921
104%
$166.00 99%
23.95%
22.29% 5.05%
APRIL- JUNE
(City)
APRIL THROUGH JUNE
2021
2020
%CHANGE
AVG Days on Market
8
23
-46.67%
Total Closed Homes
1,517
1,358
11.71%
Median Sales Price
$335,000
$285,000
17.54%
AVG Price Per Sq Ft
0.6
1.8
$199.00
$160.00
24.38%
105%
99%
6.06%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
1614
1530
-66.67% 5.49%
JANUARY - MARCH 3
The Median Sales Price in
2021 for a single family home in Raleigh is $370,000 for a year over year increase of 23.95%* Raleigh Occupied Housing Units**
43% of homes in Raleigh are renter-occupied households & 62% rent for between $1,001-1,500 per month
As of March, 2021, the Average Month's Rent in Raleigh is $1,485
The Median Sales Price in 2021 for a single family home in Durhamis $335,000 for a year over year increase of 17.54%*
WILKINSON ERA REAL ESTATE
2021 Q2 REAL ESTATE MARKET UPDATE
CHARLOTTE
CI TY Residential Da
2021
2020
%CHANGE
19
29
-34.48%
List to Sales Price Ratio
2021 102%
2020 99%
%CHANGE
3.03%
Median Sales Price
2020 $285,000
Sold Homes I Closed Sales
2021
4,953
2020 3,953
%CHANGE
19.30%
%CHANGE
25.30%
Months Supply
2021
2020
%CHANGE
0.7
1.7
-58.82%
2020
%CHANGE
$175.14
19.67%
2020
%CHANGE
4,857
13.71%
4
WILKINSON ERA REAL ESTATE
2020 Q2 REAL ESTATE MARKET UPDATE
MECKLENBURG CQ LJ NTY Residential Including Charlotte, Cornelius, Davidson, Huntersville
Da
2021
2020
%CHANGE
10
35
-71.43%
2020
%CHANGE
List to Sales Price Ratio 102%
Median Sales Price
Sold Homes I Closed Sales
99%
3.03%
2020
%CHANGE
$334,775
11.85%
2020
%CHANGE
1,134
18.87%
2020
%CHANGE
1.8
2020 $169.99
-66.67%
%CHANGE
$140.17
21.27%
2020
%CHANGE
1234
25.77%
6 6
WILKINSON ERA REAL ESTATE
2021 Q2 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA COUNTIES
Residential
CABARRUS COUNTY Including Concord, Harrisburg APRIL THROUGH JUNE
2021
2020
AVG Days on Market
12
Total Closed Homes
33
1062
974
%CHANGE
-63.64% 9.03%
Median Sales Price
$302,150
$265,000
AVG Price Per Sq Ft
0.5
1.5
-66.67%
$155.12
1177
13.25%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
1333
102%
$129.02 99%
14.02%
20.23% 3.03%
APRIL- JUNE
UN ION COUNTY Including Monroe, Waxhaw, Wedddington APRIL THROUGH JUNE
2021
2020
%CHANGE
AVG Days on Market
10
-71.43%
Total Closed Homes
1348
35 1,134
18.87%
Median Sales Price
$374,450
$334,775
11.85%
AVG Price Per Sq Ft
0.6
1.8
$169.99
$140.17
102%
99%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
1552
1234
-66.67%
21.27%
25.77% 3.03%
APRIL- JUNE 7
WILKINSON ERA REAL ESTATE
2021 Q2 REAL ESTATE MARKET UPDATE
CHARLOTTE-AREA
COUNTIES
Residential
YORK COUNTY, SC Including Fort Mill, Lake Wylie, Rock Hill APRIL THROUGH JUNE
2021
2020
%CHANGE
35
1,574
-62.86%
1,464
Median Sales Price
$326,450
7.51%
$282,995
AVG Price Per Sq Ft
List to Sales Price Ratio
102%
AVG Days on Market Total Closed Homes AVG Months Supply
Total New Listings
13
0.6
15.36%
$165.24
1.73
$137.21
-65.32%
1747
1514
15.39%
99%
20.43% 3.03%
APRIL- JUNE -------------
LANCASTER COUNTY, SC Including Lancaster, Indian Land APRIL THROUGH JUNE
2021
2020
AVG Days on Market
12
49
Total Closed Homes
616
545
Median Sales Price
$365,620
$319,000
AVG Price Per Sq Ft
$152.88
$130.11
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
8
0.6
573
101%
APRIL- JUNE
1.8
664
99%
%CHANGE
-75.51% 13.03%
14.61%
-66.67% 17.50% -13.70% 2.02%
WILKINSON ERA REAL ESTATE 2021 Q2 REAL ESTATE MARKET UPDATE
WINSTON SALEM
&
HIGH PQINTResidential WINSTON SALEM APRIL THROUGH JUNE
2021
2020
AVG Days on Market
15
Total Closed Homes
35
1199
1,041
15.18%
%CHANGE
-57.14%
Median Sales Price
$212,800
$185,000
AVG Price Per Sq Ft
0.9
1.9
$170.93
$110.96
-52.63% 36.94%
102%
1018 98%
3.68%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
1394
15.03%
54.05%
APRIL- JUNE
HIGH POINT APRIL THROUGH JUNE
2021
2020
%CHANGE
AVG Days on Market
15
42
-64.29%
Total Closed Homes
489
355
37.75%
Median Sales Price
$189,999
AVG Price Per Sq Ft
0.9
1.9
$112.41
$96.79
16.14%
101%
97%
4.35%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
599
$172,250
439
10.30%
-52.63% 36.45%
APRIL- JUNE 9
WILKINSON ERA REAL ESTATE
2021 Q2 REAL ESTATE MARKET UPDATE
ASHEVILLE Residential
ASHEVILLE APRIL THROUGH JUNE
2021
AVG Days on Market
37
Total Closed Homes
39
709
448
20.22%
2020
%CHANGE
-29.17%
Median Sales Price
$412,000
$336,732
AVG Price Per Sq Ft
1.3
-51.61%
$271.31
3.6
712
-2.30%
AVG Months Supply
Total New Listings
-------List to Sales Price Ratio
$215.72
853
97%
101%
5.97%
10.95% 2.06%
APRIL- JUNE
10
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ERA LIVE l.\1OORE
REAL ESTATE
1.4
HOMES SOLD
BILLION
IN SALES VOLUME
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2020 Customer Satisfaction Rating
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