Is Mecklenburg County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mecklenburg County is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Mecklenburg County has remained a Seller's Market.

Key Takeaway

Mecklenburg County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Mecklenburg County, NC

How much do homes in Mecklenburg County, NC cost?

Median Sold Price

$445,495

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$22,016(+5.2%)

Key Takeaway

Homes in Mecklenburg County have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Mecklenburg County was $445,495 in November 2024, up 5.2% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $265K$290K
+9.4%
2 $307.4K$319.3K
+3.8%
3 $379.9K$394.5K
+3.8%
4 $515.5K$561.5K
+8.9%
5+ $725.7K$840K
+15.8%

Summary: Mecklenburg County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 15.8%.

Median Sold Price Compared To Nearby Counties

Cabarrus County
+6.5%
Mecklenburg County
+5.2%
Gaston County
+5.2%
Union County
+3.3%
York County
+2.9%

Housing Supply in Mecklenburg County, NC

How many homes are available in Mecklenburg County, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5,2205,030-3.6%

Summary: The Mecklenburg County real estate market had 5,030 homes for sale in November 2024, a 3.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 125136
+8.8%
2 672673
0.1%
3 2,3572,258
-4.2%
4 1,4521,366
-5.9%
5+ 614597
-2.8%

Summary: The Mecklenburg County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 2.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1,1831,029-13.0%

Asking Price vs. Sold Price

592 Homes Were Sold
Under Asking

238 Homes Were Sold
At Asking

199 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mecklenburg County, you may be able to get a good deal. 57.5% of homes here sold below asking price last month.

Summary: A total of 1,029 homes were sold or pending in Mecklenburg County in November 2024, down by 13.0% month-over-month. Of the 1,029 sold homes, 58% were sold under asking, 23% were sold at asking, and 19% 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

Nov 2023Nov 2024CHANGE
27 Days37 Days+36.5%

Summary: Homes in Mecklenburg County had an average of 37 days on market in Nov 2024, up by 36.5% compared to last year.

Breakdown of Home Sale Times

604 Homes Were Sold
Under 30 Days

304 Homes Were Sold
In 30 - 90 Days

112 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mecklenburg County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1029 homes were sold in Mecklenburg County; 59% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Mecklenburg County, NC

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