Is Charlotte, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Charlotte has remained a Seller's Market.
Key Takeaway
Charlotte is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Charlotte, TN
How much do homes in Charlotte, TN cost?
Median Sold Price
$347,500
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Charlotte have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Charlotte was $347,500 in May 2024, up 13.9% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | - | N/A |
| 2 Bedrooms | $269.9K | $289.9K | +7.4% |
| 3 Bedrooms | $315K | $345K | +9.5% |
| 4 Bedrooms | $485K | $730K | +50.5% |
| 5+ Bedrooms | - | $490K | N/A |
Summary: Charlotte housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 50.5%, and 5+ bedroom homes did not change.
Housing Supply in Charlotte, TN
How many homes are available in Charlotte, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 29 | 0.0% |
Summary: The Charlotte real estate market had 29 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Charlotte housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 13 | +116.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Charlotte, expect to pay close to the asking price. 69.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in Charlotte in May 2024, up by 116.7% month-over-month. Of the 13 sold homes, 15% were sold under asking, 69% were sold at asking, and 15% were sold over asking.
Days on Market for Charlotte, TN
How long does it take to sell a home in Charlotte, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 17 Days | -78.5% |
Summary: Homes in Charlotte had an average of 17 days on market in May 2024, down by 78.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Charlotte are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Charlotte; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.