Letter from our President & CEO

Dear Friends, Clients, Colleagues,

Spring is in the air and so is real estate! There's just something about this season, as we "spring forward" during this symbolic time of growth and renewal; of change and progress. Our major markets have experienced continued momentum as we catch our stride in this second quarter of 2022.

So where is the market headed as we march towards the mid-year mark? We can make a confident prediction that housing sales will remain solid, but as we head into the third and fourth quarters, these figures may fluctuate as demand and mortgage rates impact the housing markets throughout our major metro areas in North Carolina.

It's still a strong seller's market as buyers seek relief from rising prices. Conditions in our local markets will determine whether buyers will get a reprieve in 2022.

Throughout our markets this year, we will continue to instill our commitment to our agents and consumers, celebrating our vision, "We Empower Dreams Through Real Estate" and our company values; Empower. Excellence. Belong.

It's important for us to understand your needs and help make your real estate dreams, a reality. When considering your real estate needs in 2022, 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 Wilkinson ERA guide you through the entire process–we are always available to answer any questions you may have!

We wish you good health and prosperity in 2022.

Eb Moore, President & CEO Wilkinson ERA Real Estate & Our Family of Companies.

"There's just something about this season, as we "spring forward" during this symbolic period of growth and renewal; of change and progress. "

-Eb Moore, President & CEO, Wilkinson ERA Real Estate

RESIDENTIAL SALES SUMMARY

The first quarter of 2022 for the Charlotte Region residential real estate market continued to highlight the strong buyer demand and the lack of available homes for sale. Across the board, Charlotte's housing inventory has continued to shrink, based on 2021's numbers. Homes that are on the market are experiencing record low Days on Market and sellers are getting the asking price or more, for their homes.

The Median Sales Price also jumps up in the Charlotte area and Mecklenburg County, where we see Inventory and Month's Supply take a bigger dip than the city. Between buyer demand and the low inventory, homes priced right for the market are likely to last hours, not days, on the market before going under contract.

Key observations from the first Quarter of 2022 are:

Homes in Charlotte have steadily sold for 100.9% of the asking price in this active seller's market during

Once again, first-quarter sales results saw inventory in the Charlotte area fall under 1 month or less, the lowest supply on record, and unprecedented in recent years.

The shortest average time to have an offer accepted on a home in Charlotte is 22 days, over 19% lower than 2021 results.

In both Charlotte City and Mecklenburg County, home prices continue to rise in double-digit percentages over last year's Q1 results. Charlotte's Average Sales Price is now $411,046, an increase of more than 16%!

the first quarter of 2022. A slight increase on Q1 2021.