Charlotte Real Estate Market Trends: May 2024

The Charlotte Real Estate market in May 2024 is marked by significant activity and notable trends.

Here’s a detailed look at the key metrics of the Charlotte Real Estate Market:

Charlotte Real Estate Key Metrics Overview:

New Listings: 1,623 (up 23% from May 2023)
Pending Sales: 1,196 (down 0.7% from May 2023)
Closed Sales: 1,186 (down 5.9% from May 2023)

Charlotte Real Estate & Home Price Trends:

Median Sales Price: $425,950 (up 2.6% from May 2023)
Average Sales Price: $602,390 (up 5.7% from May 2023)

Charlotte Real Estate Market Dynamics:

Percent of Original List Price Received:99.0% (slightly down by 0.1%)
List to Close: 71 days (down 7.8%)
Days on Market Until Sale: 27 days (down 6.9%)
Cumulative Days on Market Until Sale: 30 days (unchanged)

Inventory and Supply of the Charlotte Real Estate Market:

Inventory of Homes for Sale: 1,878 (up 50%)
Months Supply of Inventory: 1.9 months (up 72.7%)

Charlotte Real Estate Year-to-Date (YTD) Comparison:

Median Sales Price: $415,000 (up 3.8%)
Average Sales Price: $571,583 (up 10.7%)
Days on Market Until Sale: 34 days (down 15%)
Inventory of Homes for Sale: 6,827 (up 10.2%)

Analysis of the Charlotte Real Estate Market
The Charlotte real estate market continues to thrive with substantial increases in new listings and inventory, offering more options for buyers. Although closed sales have decreased slightly, the rise in median and average sales prices indicates strong demand. The shorter list-to-close period and days on market reflect a competitive market where homes are selling relatively quickly.

For personalized assistance and more detailed information on the Charlotte real estate market or are looking to sell your Charlotte home for 1% listing commission, contact One Charlotte Realty at 704-670-0000.

Their experienced team can help you navigate this dynamic market, whether you’re buying or selling.