Is Mecklenburg County, 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, Mecklenburg County has remained a Seller's Market.
Housing Prices in Mecklenburg County, NC
How much do homes in Mecklenburg County, NC cost?
Median Sold Price
$434,055
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mecklenburg County was $434,055 in May 2024, up 4.5% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260.2K | $276.1K | +6.1% |
2 Bedrooms | $298.6K | $314.7K | +5.4% |
3 Bedrooms | $375K | $389.9K | +4.0% |
4 Bedrooms | $512.2K | $539.6K | +5.4% |
5+ Bedrooms | $725K | $774.8K | +6.9% |
Summary: Mecklenburg County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Counties
Mecklenburg County | $415.3K | $434K | +4.5% |
Union County | $443.9K | $460.3K | +3.7% |
Cabarrus County | $337.2K | $348.7K | +3.4% |
York County | $378.6K | $389.3K | +2.8% |
Gaston County | $299.6K | $305K | +1.8% |
Housing Supply in Mecklenburg County, NC
How many homes are available in Mecklenburg County, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4,888 | 5,199 | +6.4% |
Summary: The Mecklenburg County real estate market had 5,199 homes for sale in May 2024, a 6.4% 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 | 630 | 655 | +4.0% |
3 Bedrooms | 2,102 | 2,169 | +3.2% |
4 Bedrooms | 1,424 | 1,527 | +7.2% |
5+ Bedrooms | 621 | 720 | +15.9% |
Summary: The Mecklenburg County 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 4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 15.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,339 | 1,357 | +1.3% |
Asking Price vs. Sold Price
574 Homes Were Sold
Under Asking
320 Homes Were Sold
At Asking
463 Homes Were Sold
Over Asking
Summary: A total of 1,357 homes were sold or pending in Mecklenburg County in May 2024, up by 1.3% month-over-month. Of the 1,357 sold homes, 42% were sold under asking, 24% were sold at asking, and 34% were sold over asking.
Days on Market for Mecklenburg County, NC
How long does it take to sell a home in Mecklenburg County, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 23 Days | -17.1% |
Summary: Homes in Mecklenburg County had an average of 23 days on market in May 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
1,055 Homes Were Sold
Under 30 Days
199 Homes Were Sold
In 30 - 90 Days
84 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1357 homes were sold in Mecklenburg County; 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.