High prices, low inventory mark local housing market a year after COVID-19 lockdowns

CHARLOTTE, N.C. — Charlotte’s housing market has largely bounced back a year after pandemic-related lockdowns put real estate activity on pause in April 2020.

There were 4,678 home sales recorded this April and another 5,453 residential properties put under contract, according to Canopy Realtor Association’s report released Tuesday. Those figures were up 24.8% from 3,749 closings and up 46.3% from 3,727 submitted contracts in the same month of 2020, as the brunt of Covid-19 was felt.

New listings also posted a big year-over-year jump this April, as local sellers a year ago were sidelined from putting their properties up for sale amid stay-at-home orders. Such activity increased 32.5%, with 5,711 homes listed on the market last month.

“As Covid-19 vaccinations and reopening continues, we are encouraged by April’s sales activity, particularly growth in new listings, which should help buyers with more choice,” Canopy President David Kennedy said in the report. “Remote learning and work-from-home situations have kept many sellers from listing, but with summer approaching, we may see more seller activity.”

One facet of the market that hasn’t improved in the past year is inventory.

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