2 minute read
Letter from our President & CEO
Dear Friends, Clients, Colleagues,
Welcome to our 2022 Annual Market Report prepared for Wilkinson ERA Real Estate and our family of companies. We continue to be grateful to have the privilege of working with you in the markets we proudly serve throughout the Carolinas.
As we begin 2022, we provide an in-depth look at the most recent quarter of activity, Q4, 2021. It has been another year of extremes throughout our major markets in North Carolina–the ongoing COVID-19 pandemic and rising unemployment rate have inhibited a stronger economic recovery, while real estate continues its record growth.
In many respects, our markets mirror the low inventory and rising prices of 2020 with the early signs of a slight cooling, as evidenced by longer days on market, rising sales prices, and the continued dominance of a strong seller's market.
The biggest impact we predict for 2022? First-time homebuyers will feel the biggest pinch, placing desirable metro NC markets out of reach for many. Rising mortgage rates predicted this year by The Fed, place added pressure on homebuyers "on the fence" .
Throughout our markets in 2021, we reinstilled our commitment to our agents and consumers, celebrating our new vision, "We Empower Dreams Through Real Estate" and our new 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.
-Eb Moore,President & CEO, Wilkinson ERA Real Estate
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
Once again, first-quarter sales results saw inventory in all of the markets we serve, 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 just slightly in the fourth quarter of last year–likely due to forthcoming interest rate hikes, the holiday season, and a considerable lack of inventory.
the fourth quarter of 2021. A slight decrease from the previous quarter.
