How is the Charlotte Real Estate Market?
In this ever changing housing market, I’m often asked, “How is the real estate market?”
My Answer is, “It’s changed quite a bit over the last year.”
Charlotte’s in a great position. Our residential real estate market continues to attract buyers with its great lifestyle appeal. Who doesn’t love sunny days, mild temperatures and a change of seasons? These factors are part of the reason why we’ve had steady appreciation in home values, with the median sale price rising year over year and average prices comfortably outpacing national averages. The median sale price in Charlotte edged higher than other metros, reflecting continued demand even as market activity regulated from the fast post-pandemic pace.
One of the hallmarks of this current market is a gradual return to balance. Inventory levels have grown with homes having more days on the market, offering buyers more choice and slightly shifting the pricing power from sellers. Active listings and months of supply have grown compared to recent years while supply is still tight in higher end price brackets where discerning buyers typically compete. Homes in highly desirable neighborhoods still spend fewer days on market than many national averages, and a significant share of properties continue to sell at or close to the asking price.
Charlotte has strong appeal overall. The Queen City continues to attract corporate expansions, professional talent, and has steady population growth, all of which contribute to our long-term housing demand. Our local market dynamics in Charlotte have shown resilience, with moderate price gains and sustained buyer interest even as mortgage rates change.
Sellers are still in a good position and buyers have improved their position in the market, leading to the gradual return to a balanced market.
If you are thinking of buying or selling your home, I can help you navigate this shifting market. Contact me for a personal real estate review. Together, we will get you moving in the right direction.
