Charlotte Home Sales Fell Sharply in May – Pending Contracts Indicate Buyers Are Coming Back

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Charlotte Home Sales Fell Sharply in May – Pending Contracts Indicate Buyers Are Coming Back

With North Carolina businesses slowly reopening under the state’s Phase 2 of operations, May home sales across the Charlotte region fell 30.4 percent with 3,598 homes sold, according to data from the Charlotte MLS.  Compared to April 2020, sales were up 1.8 percent as area Realtors® and consumers continue adjusting to buying and selling in the new normal of COVID-19.

Pending contracts, which point to future sales as well as buyer demand, rose 14.8 percent year-over-year with 5,926 contracts in the pipeline. Pending contracts compared to April 2020 were up 46.5 percent, showing a significant increase in buyer demand over the 16-county region.

Charlotte Realtor® Association President John Kindbom notes, “We are reassured by the positive growth in pending contract activity, especially the substantial increase over last month. Buyers have had to adjust to increased lending standards and documentation regarding income, credit and employment, which often adds additional time to the process. However, this shows us that buyers are adjusting. More of this activity will result in positive sales in the coming months.”

Prices, pressured by tightening inventory, continued to increase. The average list price ($375,709) rose 11.2 percent compared to last year and was up 11.6 percent compared to April 2020. Both the median sales price ($265,000) and the average sales price ($310,166) rose 1.9 percent and 0.2 percent, respectively. The original list price to sales price ratio was 97.6 percent, showing sellers are getting closer to asking prices.

There were 5,168 new listings added to inventory during the month, which is down 22.1 percent compared to new listings added in May 2019. However, compared to April 2020, new listings increased 21.4 percent, which is a positive sign of seller confidence rising.

Kindbom further notes, “This month-over-month increase in new listing activity, along with the increases in pending contract activity, are the signs we needed to see to know the market is actively recovering. And while full recovery is still some ways off, agents will continue working with buyers and sellers and will keep following strict guidelines to get homes sold in a safe manner.”

Inventory remains challenged, falling 37.0 percent year-over-year, which means the region will continue to experience strong seller’s market conditions with some 6,712 homes available for sale at report time. The 16-county Charlotte region currently has 1.6 months of supply, compared to 2.6 months of supply last May.

Days on market, the metric that accrues for “Active” and “Under Contract-Show” statuses, averaged 35 days in May 2020 compared to 42 days in May 2019. Faster home sales as displayed by days on market is yet another hallmark of a strong seller’s market. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 90 days.

The Charlotte Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from the MLS. The Charlotte Metro region, which this report is based on, includes 12 counties in North Carolina and four counties in South Carolina.

The North Carolina Zoo Will Open to the Public June 15

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The North Carolina Zoo Will Open to the Public June 15

The North Carolina Zoo will open to the public Monday, June 15 with some new procedures in place to help ensure the safety of staff and guests.

The biggest change will be advance purchase of timed tickets for entry into the Zoo. Walk-up entry to the Zoo is not available at this time; everyone must pre-arrange their visit, including zoo members or those holding previously purchased tickets. The Zoo will initially open with a capacity of 2,000 visitors.

Guests can only enter and exit through North America. The Zoo’s pathways are configured into a one-way walking experience through North America and Africa wherever possible. This is to encourage social distancing while ensuring guests can stop by each outdoor habitat. Guests will see directional signs and decals on the ground to help them navigate the expansive Zoo.

If assistance is needed to get back to the exit in North America after guests have finished their visit to the Africa region, there will be open-air trams available operating at one-half capacity. Tram service is limited only to guests exiting the Park from Junction Plaza to the North America tram stop.

Throughout each day, zoo staff will frequently clean and disinfect restrooms and frequently touched surfaces. Additional hand sanitizer stations have been placed throughout the Zoo for guests to use.

Important things to know before you go:

  • Full list of guidelines for visiting at www.nczoo.org/timed-ticketing. Please read before you visit.
  • No walk-up entry is available at this time. All guests, including zoo members, must pre-arrange their visit, including children under two.
  • Reservations are taken for three weeks out.
  • Credit or debit card payment is preferred.
  • The Zoo is unable to provide refunds for weather or animal visibility.
  • Guests are encouraged to bring refillable water bottles.
  • Indoor and enclosed habitats are closed at this time. This includes Aviary, Desert, Streamside, Polar Bear Underwater Viewing and Ice Cave, and Sea Birds.
  • Playgrounds and Smart Carts are closed at this time.
  • Seasonal attractions including Giraffe Deck, Air Hike, Treehouse Trek, Carousel and Butterfly Garden are closed at this time.
  • Our gift shop will be open with limited capacity, and food service will be take-out only.
  • If you choose to purchase food inside the Zoo outdoor seating is available with tables set six feet apart.
  • If you wish to bring your own food, you can picnic at our Solar Pointe picnic area before or after your Zoo visit.
  • Strollers are not allowed on the exit tram, except for folding, umbrella-style strollers that fit in the seat. Guests can also rent strollers at the Zoo, but these are not allowed on the trams.
  • Wheelchairs and Electric Convenience rentals are available, and they will be sanitized between uses. There is limited availability, and they are rented on a first-come, first-served basis.

Guests are encouraged to follow the “Three Ws” as outlined by the N.C. Dept. of Health and Human Services – WEAR a cloth face covering, WAIT in line at least six feet away from others, and WASH hands frequently or use hand sanitizer.

Keep up to date by visiting our website at www.nczoo.org.

Panthers Remove Statue of Founder Jerry Richardson in Front of Bank of America Stadium

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Panthers Remove Statue of Founder Jerry Richardson in Front of Bank of America Stadium

The Panthers have just removed the statue of founder Jerry Richardson from in front of the Bank of America Stadium.

The 13′ tall statue stood outside of the North Gate along Graham St. and was initially erected in 2016.

The following video shows construction crews removing the statue yesterday afternoon with a crane:

Jerry Richardson became a sort of hero around town after building the team from the ground up in the 90s, but his legacy ended in disgrace after numerous allegations of sexual misconduct. After an investigation by the NFL, he was fined $2.75 million for his behavior.

Yesterday, the Panthers posted a statement on Twitter about the statues removal, saying that they temporarily moved the monument for its protection.

“We were aware of the most recent conversation surrounding the Jerry Richardson statue and are concerned there may be attempts to take it down. We are moving the statue in the interest of public safety,” the organization said.

New Data: 30% Missed Housing Payments in June

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New Data: 30% Missed Housing Payments in June
Throughout the course of May, the COVID-19 pandemic’s grip on the economy began to loosen. Social distancing restrictions have started to ease across the country and some of those who faced layoffs were able to get back to work in recent weeks. However, despite these positive signals, the degree to which Americans are struggling to make their housing payments has yet to show any notable improvement.
After surveying over 4,000 Americans, Apartment List’s latest report finds 30% of respondents failed to make their full June housing payments on time, nearly unchanged from the 31% rate in May. As the struggles with housing payments continue, we now find that 37% of renters say they are at least somewhat concerned about facing eviction in the next six months, while 26% of homeowners are concerned about foreclosure.
Key findings from the report:
  • 19% of respondents have not yet made a housing payment for June, and an additional 11% have made only a partial payment. Missed payments remain common for renters and homeowners alike.
  • A majority of the households that didn’t pay their May bill on time eventually closed the gap with late payments. By the end of the month, only 11% of Americans left a portion of their May rent or mortgage unpaid.
  • The flexibility of remote work remains an important predictor of financial hardship. 25% of those who cannot work from home made none of their June housing payment, compared with 14% of those who could work while sheltering-in-place.

College Consensus ranks Johnson C. Smith University among top HBCUs across the Nation

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College Consensus ranks Johnson C. Smith University among top HBCUs across the Nation

Johnson C. Smith University is taking top honors in a new poll. With more than 100 HBCUs nationwide, JCSU is ranked as one of the top 50 HBCUs across the nation, according to College Consensus list of Best HBCUs. According to the site, JCSU is also listed as:

  • Top 5 HBCU in North Carolina
  • Top 10 HBCU in the Carolinas
  • Top ranked private HBCU in North Carolina
  • Top 3 ranked private HBCU in the Carolinas
  • One of only three institutions in the Carolinas recognized for providing its students free laptops or iPads

College Consensus is a comprehensive meta-ranking, which pulls together data from numerous college ranking sites, including U.S. News & World Report, WalletHub, the Wall Street Journal, and others. They combine those results with the most reputable student reviews, from sites including Niche, My Plan, and Unigo, creating a Publisher Rating and a Student Review Rating.

“The College Consensus method allows every institution, from the richest and best-known university to the smallest and hardest-working regional college, to demonstrate what they do best.”

Republican Leaders Announce Plans To Move The RNC From Charlotte To Jacksonville

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Republican Leaders Announce Plans To Move The RNC From Charlotte To Jacksonville

Republican leaders just announced their new site for the 2020 Republican National Convention after President Trump backed out of the contract with Charlotte when he wasn’t guaranteed a ‘fully occupied’ Spectrum Center.

Today the Washington Post reported that, “Republicans have tentatively settled on Jacksonville, Fla., as the new destination for the premier festivities of the Republican National Convention in August, according to three Republican officials briefed on the plans.”

They note that some of the RNC’s lower profile gatherings might still be held in Uptown Charlotte.

Problems began when RNC officials within the White House started talking about possibly scaling back the 50,000 people who were expected to gather in Charlotte, possibly even limiting the attendance to delegates only due to the ongoing COVID-19 pandemic.

Last month, President Trump lashed out at the idea that his crowds might be reduced, tweeting a series of 4 tweets directed at North Carolina’s governor. He said RNC organizers “must be immediately given an answer by the Governor as to whether or not the space will be allowed to be fully occupied. If not, we will be reluctantly forced to find…another Republican National Convention site.”

Later that same day our governor released the following statement:

The next day, on Tuesday, May 26th, the president told a reporter; “we need a fast decision from the governor, he’s been acting very, very slowly and very suspiciously. We’re talking about a very short period of time. It’s a massive expenditure, yeah. I would say within a week, certainly, we have to know.”

Yesterday, the Governor sent a response letter to the President and the the RNC, saying:

“Dear Chairwoman McDaniel and President Kelly:

I am in receipt of your letter of May 30, 2020, demanding a ”full convention” which includes ”19,000 delegates, alternative delegates, staff, volunteers, elected officials and guests inside the Spectrum Center.” You also require ”full hotels and restaurants and bars at capacity.” In my conversations with you and with President Trump Friday night, you want us to guarantee a full arena.

We had appreciated your earlier acknowledgements that a successful and safe convention would need to be scaled back to protect the health of participants as well as North Carolinians. Unfortunately, it appears that has now changed.

We still want a safe RNC convention in Charlotte that follows the health guidelines set forth in the CDC’s interim guidance regarding mass gatherings. In my conversation with the President, I commended him for not holding crowded political rallies since March because of the serious health risk that they would cause.

The people of North Carolina do not know what the status of COVID-19 will be in August, so planning for a scaled-down convention with fewer people, social distancing and face coverings is a necessity.

We are happy to continue talking with you about what a scaled-down convention would look like and we still await your proposed plan for that. We also await answers to the safety questions posed by our state Health and Human Services Secretary, specifically regarding social distancing and face coverings.

With the Nation, the State of North Carolina and the City of Charlotte still under states of emergency it’s important to conduct the RNC convention accordingly. As much as we want the conditions surrounding COVID-19 to be favorable enough for you to hold the Convention you describe in late August, it is very unlikely. Neither public health officials nor I will risk the health and safety of North Carolinians by providing the guarantee you seek.

Sincerely,

Roy Cooper”

In 3 tweets posted last night, President Trump responded to Governor Coopers request for a scaled-down convention proposal with a decision to move the conference:

“Had long planned to have the Republican National Convention in Charlotte, North Carolina, a place I love. Now, @NC_Governor Roy Cooper and his representatives refuse to guarantee that we can have use of the Spectrum Arena – Spend millions of dollars, have everybody arrive, and then tell them they will not be able to gain entry. Governor Cooper is still in Shelter-In-Place Mode, and not allowing us to occupy the arena as originally anticipated and promised. Would have showcased beautiful North Carolina to the World, and brought in hundreds of millions of dollars, and jobs, for the State. Because of @NC_Governor, we are now forced to seek another State to host the 2020 Republican National Convention.”

What do you think about the decision to move the convention?

Sustain Charlotte Hosting A Virtual Public Conversation On Uptown Bicycle Lanes

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Sustain Charlotte Hosting A Virtual Public Conversation On Uptown Bicycle Lanes

On June 10 at 5 pm, Sustain Charlotte will be hosting a free virtual conversation on the City’s plans to develop the Uptown Cyclelink, a network of protected bike lanes that will connect segments of bike lanes throughout the City. Representatives from Charlotte DOT, Stroll and Roll Plaza Midwood, and the Lakeview Neighborhood Alliance will participate in the conversation. Participants can register here. 

This conversation is part of Sustain Charlotte’s Shifting Gears, a series of events hosted by Sustain Charlotte that feature a keynote speaker and small group discussions where participants connect with other cycling advocates. Whether you are interested in biking but haven’t started yet, a weekend warrior, or a daily bike commuter, everyone has a part to play in helping realize our City’s vision for bicycling in Charlotte. Don’t miss this exciting opportunity to get more informed, engaged, and make a difference! 

Sustain Charlotte is a 501(c)3 nonprofit organization helping to advance a region-wide sustainability movement by serving as a catalyst for change. Our mission is to inspire choices that lead to healthy, equitable and vibrant communities across the Charlotte metro region for generations to come. 

Governor Cooper Shuts Down NC Racetrack After It Stages Fake ‘Protest’ To Fills Stands For Races

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Governor Cooper Shuts Down NC Racetrack After It Stages Fake ‘Protest’ To Fills Stands For Races

Governor Cooper has just ordered North Carolina’s ACE Speedway to close immediately, calling the racetrack an ‘imminent hazard’.

This past weekend, the track held several races with packed stands and virtually no social distancing.

Under North Carolina’s Phase 2 restrictions, outdoor gatherings, including car races, are limited to a maximum gathering size of 25 people, except for any gathering that fits under the First Amendment of the U.S. Constitution, including protests. They attempted to skirt these restrictions by saying the event was being held “in peaceful protest of injustice and inequality everywhere”.

The racetrack must now tell fans that all future events and races will canceled until the 22nd of June.

North Carolina’s official abatement order requiring ACE Speedway to immediately close due to their violation of Executive Order #141.

The order goes on to say that:

“(c) ACE Speedway may propose a plan to abate the imminent hazard that would allow races or other events at ACE Speedway in compliance with Executive Order No. 141. ACE Speedway may not reopen for races or other events until such a plan is approved by NCDHHS. Such a plan shall, at a minimum, require ACE Speedway to:
1. Adhere to mass gathering restrictions of l O spectators inside and 25 spectators outside, consistent with Sections 7 and 9 of Executive Order No. 141; and
2. Ensure that any entertainers or participants in the sporting activities stay six (6) feet away from spectators, consistent with Section 9(D) of Executive Order No. 141; and
3. Post signage reminding attendees, customers, and workers about social distancing (staying six (6) feet away from others) and requesting that people who have been symptomatic with fever and/or cough not enter, consistent with Sections 1 (2)(b) and 9(E)(l) of Executive Order No. 141; and
4. Conduct daily symptom screening of workers, using a standard interview questionnaire of symptoms, before workers enter the workplace, consistent with Sections 1(2)(c) and 9(E)(l) of Executive Order No. 141; and
5. Immediately isolate and remove sick workers, consistent with Sections 1 (2)( d) and 9(E)(l) of Executive Order No. 141; and
6. Perform frequent and routine environmental cleaning and disinfection of high­touch areas with an EPA-approved disinfectant for SARS-Co V-2 (the virus that causes COVID-19), consistent with Sections 1 (2)( e) and 9(E)(l) of Executive Order No. 141″

You can read NCDHHS’ full ORDER OF ABATEMENT OF IMMINENT HAZARD here.

What do you think about the order? 

Charlotte Joining Washington DC In Painting Giant “Black Lives Matter” On Street in Uptown

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Charlotte Joining Washington DC In Painting Giant “Black Lives Matter” On Street in Uptown

Charlotte is about to become the second major city in America to have a street-wide “Black Lives Matter” mural painted onto one of its busiest roads.

Here is the mural that was painted on 16th St, directly in front of the White House in Washington (the entire street has since been renamed to “Black Lives Matter Plaza):

Here is the new mural in Charlotte which is being painted on South Tryon St in Uptown Charlotte:

By 2pm this afternoon, the outlining of the lettering was mostly complete and some additional artistic designs were being added to the letters:

The entire mural was finished at about 7pm this evening.

What do you think about the new mural?

The Carolinas Rank Among The Least Restrictive States Due To COVID-19

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The Carolinas Rank Among The Least Restrictive States Due To COVID-19

With all states having at least partially reopened as new COVID-19 cases have seen a slow decline, the personal-finance website WalletHub today released updated rankings for the States with the Fewest Coronavirus Restrictions.

To identify which states have the fewest coronavirus restrictions, WalletHub compared the 50 states and the District of Columbia across 14 key metrics. Our data set ranges from whether child-care programs and restaurants have reopened to the presence or absence of a “shelter-in-place” order.

The Carolinas have significantly decreased their restrictions over the past month, with both states now ranking among the top half of the least restrictive states in the nation. South Carolina came in at #14, 5 spots higher than on May 19th (when they were #19), and North Carolina came in at #21, 15 spots higher than on May 19th (when they were #36).

States with the Fewest COVID-19 Restrictions

Overall Rank State Total Score Delta in Overall Rank vs. May 19
1 South Dakota 92.29 0
2 North Dakota 75.59 7
3 Wisconsin 73.89 -1
4 Idaho 67.08 -1
4 Utah 67.08 1
6 Missouri 64.79 -2
7 Alaska 64.17 10
8 Montana 63.37 -1
9 Wyoming 62.36 -3
10 Tennessee 59.86 3
11 Iowa 58.40 -1
12 Florida 55.63 5
13 Arizona 55.31 -5
14 South Carolina 54.44 5
15 Texas 54.41 -3
16 Nebraska 53.96 4
17 Alabama 53.33 -6
18 Kansas 52.57 3
19 Louisiana 50.56 10
20 Arkansas 48.82 -6
21 North Carolina 48.54 15
22 Kentucky 48.44 14
23 West Virginia 46.94 -9
24 Indiana 46.60 -8
25 Michigan 45.83 16
26 Nevada 45.76 1
27 Connecticut 45.56 14
28 Mississippi 44.17 -6
29 Ohio 43.16 9
30 Minnesota 43.13 -4
31 Washington 42.22 13
32 Oregon 41.18 -8
33 Rhode Island 40.21 17
34 Maine 39.17 0
34 Oklahoma 39.17 -11
36 District of Columbia 37.71 13
37 Colorado 37.50 -6
38 Delaware 36.70 1
39 Georgia 36.67 -11
40 New York 35.00 1
41 Pennsylvania 34.72 -16
42 Maryland 32.22 -12
43 Illinois 30.97 8
44 Massachusetts 30.00 4
45 Virginia 26.25 -12
46 Vermont 23.13 1
47 New Mexico 19.06 -3
48 Hawaii 16.81 -2
49 New Jersey 16.53 -10
50 California 16.46 -18
51 New Hampshire 16.04 -16

Note: Rankings are based on data available as of 12:30 p.m. ET on Monday, June 8, 2020.

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