Home Sales Plummet Amid Coronavirus Outbreak, But Prices Rise
Home sales in the Charlotte region fell nearly 20.8% in April compared with a year ago as the coronavirus outbreak and stay home-orders kept buyers on the sidelines. But the slowing market hasn't hurt prices.
That's according to a report this week from the Canopy Realtor Association, which tracks sales in 12 counties around Charlotte.
A total of 3,534 homes were sold in April, down from 4,464 homes in April 2019, according to Canopy Multiple Listing Service data. The number of new listings is also down sharply, by 26.6%. But for the first four months of the year overall, sales are up 0.7% compared with 2019.
Prices remain strong: The median sales price rose 8.1%, to $275,000 while the average sale price was up 7.1% to $325,403.
“Given the state and local stay-at-home orders, we knew that contract and new listing activity would be impacted and that sales would be slower and not as strong as they normally would be during this time," Canopy President John Kindbom said in a statement. "On a positive note, buyer demand has historically been strong in our region, which makes us confident that the market can recover.”
More information is on the Canopy Realtor Association website.
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