March 2021 Sales Stats

The home sales market in Western North Carolina is still a very heated market.  As the inventory of homes on the market shrinks, sales prices rise.  (The old law of Supply and Demand)  I have many customers asking about sales statistics, so here is a brief recap of our current market.

In March 2021 we sold 115 homes, which was a 29% increase over March 2020.

The average sales price in March 2021 was $355,654, which was a 29% increase over March 2020.

The median sales price in March 2021 was $315,000, which was almost 30% higher than March 2020.

The number of homes on the market in March 2021 was 174, compared to 402 homes for sale in March 2020.  This means that in March 2020 we had a 4.1 months supply of homes on the market.  In March 2021 that number had dropped to 1.5 months of inventory.  In other words, if sales rates remained the same, and no additional homes came on the market, we would have zero homes to sell in 1.5 months.

Our MLS covers from Charlotte, NC, all the way into Western NC.  In the Charlotte region, the current months of supply is only .6 months, or about 18 days of supply.

I have been a Realtor® for 16 years, but have never seen a market this heated.  If a home comes on the market that you would like to see, please call us.  If you wait till next week, or even wait a few days, that home may be under contract.  If you are planning on purchasing a home with a mortgage, talk to your bank or lender right now and get a preapproval letter, or at least a pre-qualification letter from your lender.  Many sellers will not even consider an offer without these letters.  If you have any additional questions not covered here, please call us.  We can help.