Is Charlotte, NC 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, NC
How much do homes in Charlotte, NC cost?
Median Sold Price
$414,482
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Charlotte have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Charlotte was $414,482 in May 2024, up 4.9% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260.1K | $275K | +5.7% |
| 2 Bedrooms | $290K | $309.6K | +6.8% |
| 3 Bedrooms | $364.3K | $379.1K | +4.1% |
| 4 Bedrooms | $493.5K | $515.4K | +4.4% |
| 5+ Bedrooms | $769K | $812.2K | +5.6% |
Summary: Charlotte housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Matthews | $485K | $530.5K | +9.4% |
| Pineville | $414K | $440.4K | +6.4% |
| Charlotte | $395.2K | $414.4K | +4.9% |
| Riverbend Township | $336.4K | $350K | +4.0% |
| Huntersville | $510.3K | $524.4K | +2.8% |
Housing Supply in Charlotte, NC
How many homes are available in Charlotte, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3,945 | 4,175 | +5.8% |
Summary: The Charlotte real estate market had 4,175 homes for sale in May 2024, a 5.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 111 | 128 | +15.3% |
| 2 Bedrooms | 540 | 575 | +6.5% |
| 3 Bedrooms | 1,766 | 1,806 | +2.3% |
| 4 Bedrooms | 1,099 | 1,175 | +6.9% |
| 5+ Bedrooms | 429 | 491 | +14.5% |
Summary: The Charlotte housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,097 | 1,071 | -2.4% |
Asking Price vs. Sold Price
437 Homes Were Sold
Under Asking
249 Homes Were Sold
At Asking
385 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Charlotte, you may be able to get a good deal. 40.8% of homes here sold below asking price last month.
Summary: A total of 1,071 homes were sold or pending in Charlotte in May 2024, down by 2.4% month-over-month. Of the 1,071 sold homes, 41% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Charlotte, NC
How long does it take to sell a home in Charlotte, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 23 Days | -14.6% |
Summary: Homes in Charlotte had an average of 23 days on market in May 2024, down by 14.6% compared to last year.
Breakdown of Home Sale Times
833 Homes Were Sold
Under 30 Days
162 Homes Were Sold
In 30 - 90 Days
64 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, 1071 homes were sold in Charlotte; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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