CHARLOTTE AREA RESIDENTIAL SALES SUMMARY The fourth quarter of 2021 for the Charlotte Region residential real estate market continued to tell a story about low inventory and record buyer demand. Throughout the Charlotte area, buyers competed for homes, often resulting in calls for the highest and best offers and bidding wars. As we gain traction in this first quarter of 2022, we can see a considerable rise in Median Sales Price and Price Per Square Foot in many of our regions in North Carolina. Buyer demand and the low inventory have resulted in record lows in Charlotte and the surrounding counties. Key observations from this last Quarter of 2021 are: Homes in Charlotte have steadily sold for 100.3% of the asking price in this active seller's market during the fourth quarter of 2021. A slight decrease from the previous quarter. 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 19 days, over 26% lower than 2020 results. Closed sales are down slightly in the fourth quarter of last year–likely due to forthcoming interest rate hikes, the holiday season, and a considerable lack of inventory.
Wilkinson ERA Real Estate Annual Report | 2022.
P2
