Market Trends – My Home North Carolina

November 2024 Market Trends

Posted on December 11, 2024December 11, 2024 by MTHadmin

Welcome to our latest real estate market trends update, where we examine the current housing market landscape. As we provide the trends of the present month, we will also share a comparison with the same period in previous years. This market analysis focuses on Single Family Homes, Condos, and Townhomes, in the vibrant Charlotte metropolitan area. Whatever you are in the market for, our analysis provides a valuable snapshot of market trends year over year.

In the ever-evolving world of real estate, understanding the nuances of market shifts is a paramount priority for both buyers and sellers alike. Join us as we analyze the data and gain insight into the current state of the market, providing valuable context for those navigating property transactions. Whether you’re seeking to buy, sell, or simply stay informed, we hope that this overview provides value.

New Listings

The data for November 2024 highlights a rebound in new listings in the Charlotte real estate market, rising to 43,372 from 38,502 in November 2023. While still below the 47,350 recorded in November 2022, this increase reflects growing seller confidence and improving market conditions, offering buyers a broader range of options.

For sellers, the upward trend in inventory emphasizes the need for competitive pricing and strong home presentation to stand out. Buyers, on the other hand, can take advantage of a less competitive environment to explore better opportunities and negotiate favorable terms.

Pending Sales

The data for November 2024 indicates some recovery in pending sales within the Charlotte area, increasing to 33,672 from 33,230 in November 2023. This uptick follows a period of consistent decline since early 2021, where pending sales peaked at over 48,000, demonstrating a shift toward stabilization.

While the increase is modest, it reflects growing buyer activity in a challenging market. Sellers should remain strategic, leveraging this momentum to secure favorable deals, while buyers can capitalize on the improving inventory levels to find suitable opportunities before competition intensifies.

Sales Price

The median sales price in the Charlotte area reached $400,639 in November 2024, continuing a trend of steady growth from 2021, where prices started at $290,000. This reflects an approximate 38% increase over the last 3 years, driven by consistent demand and limited supply.

Despite fluctuations in early 2023, prices stabilized and saw renewed gains in late 2024. This presents a strong market for sellers, while buyers may face challenges due to rising costs. Strategic planning is essential for both sides to navigate this competitive housing landscape effectively.

Days on Market

The median days on market for homes in the Charlotte area increased from 5 days in November 2022 to 15 days in November 2024. This threefold rise suggests a cooling in market activity as properties are taking longer to sell compared to the rapid pace seen two years ago.

While the increase indicates a shift towards a more balanced market, it may also reflect higher prices and cautious buyer behavior. Sellers should adjust expectations and prepare for potentially extended listing periods, while buyers might find more opportunities for negotiation.

The data for November 2024 highlights notable shifts in the Charlotte real estate market. Median home sale prices have reached $400,639, reflecting steady growth in property values. Pending sales have shown improvement, climbing to 33,672 compared to 33,230 in November 2023, indicating signs of stabilization in buyer activity. However, homes are taking longer to sell, with the median days on market increasing to 15, compared to 11 days in November 2023 and just 5 days in November 2022. These trends suggest a transitioning market where both buyers and sellers must adapt to changing conditions and evolving opportunities.

As we navigate these trends, we’re here to support you every step of the way. Whether you’re a prospective buyer eager to find your dream home, a homeowner considering selling, or simply seeking more information about the market, we invite you to reach out with any questions or assistance you may need. Our team of experts is dedicated to providing personalized guidance and expertise tailored to provide you with results. Let us know what you’re looking for.

October 2024 Market Trends

Posted on November 13, 2024 by MTHadmin

New Listings

As of October 2024, the Charlotte real estate market showcases some interesting trends for potential buyers and sellers. The number of new listings continues to show signs of recovery after a period of decline, with October 2024 reaching 43,088 new listings, up from 38,429 in October 2023. This increase indicates a gradual resurgence in market activity, which could present opportunities for both sellers looking to capitalize on a busier market and buyers seeking a greater variety of properties.

For sellers, the uptick in new listings may require strategic pricing and marketing to stand out in a more competitive landscape. Meanwhile, buyers might benefit from the expanded selection, which could provide leverage for negotiations. As the market shifts, staying informed and proactive will be essential for making well-timed and strategic real estate decisions. For those looking to navigate these changes, our team of experts is ready to offer tailored guidance to help you achieve your real estate goals.

Pending Sales

October 2024 saw pending sales in the Charlotte real estate market begin to stabilize after significant declines over recent years. The number of pending sales rose to 33,401, a slight improvement from 33,253 in October 2023, signaling a potential plateau after a prolonged period of contraction. This subtle growth suggests a more balanced market may be on the horizon, which could affect both buyers and sellers as they navigate their strategies in an evolving landscape.

For sellers, this slight uptick in pending sales could indicate growing interest from buyers, signaling the importance of well-executed marketing and attractive pricing to convert interest into action. Conversely, for buyers, the modest increase in market activity may mean that competition, while not as fierce as in past years, is beginning to pick up, emphasizing the importance of timely decision-making and being well-prepared for negotiations.

Sales Price

The Charlotte real estate market continues to show price growth, with the median sales price reaching $400,000 in October 2024, up from $393,000 in October 2023 and $385,750 in October 2022. This steady increase reflects strong demand, making it a potentially favorable time for sellers to list and capitalize on high property values, while emphasizing the importance of strategic pricing to attract buyers.

For buyers, the upward trend in prices presents challenges, underscoring the need for thorough preparation and informed decision-making. Whether you’re buying or selling, staying proactive and seeking expert guidance will be essential to navigating the evolving Charlotte market and achieving your real estate goals.

Days on Market

The Charlotte real estate market is seeing a continued shift in the speed of home sales. As of October 2024, the median days on market increased to 14, up from 12 in October 2023 and significantly higher than the rapid 5 days seen in October 2022. This trend indicates a cooling period, where properties are taking longer to sell compared to the fast-paced market of recent years.

For sellers, this change suggests the importance of patience and strategic marketing to attract buyers in a market where homes are lingering longer. Buyers, on the other hand, may find they have more time to make informed decisions and negotiate favorable terms. Adapting to these evolving conditions is key, and our team is here to provide expert guidance to help you navigate this shifting landscape effectively.

The data for October 2024 provides a comprehensive view of the evolving Charlotte real estate market. Median home sale prices have appreciated to $400,000, signaling continued growth in value. New listings have risen to 43,088, reflecting an upswing in market activity compared to 38,429 in October 2023. While pending sales remain below previous peaks, October 2024 shows improvement with 33,401 compared to 33,253 in October 2023, hinting at potential stabilization. However, properties are taking longer to sell, with median days on market at 14, up from 12 days in October 2023 and significantly more than 5 days in October 2022. These trends emphasize the need for both buyers and sellers to stay informed and adaptable in this dynamic real estate landscape.

September 2024 Market Trends

Posted on October 10, 2024October 10, 2024 by MTHadmin

New Listings

The latest data for the Charlotte area reveals intriguing insights into the dynamics of new home listings over the past few years. In September 2022, the number of new listings for single-family homes, condominiums, and townhouses was 49,380. This figure dropped significantly to 38,534 by September 2023, indicating a substantial decline in inventory.

However, the market appears to be showing signs of recovery. By September 2024, the number of new listings increased to 42,869. While this figure is still below the levels seen in 2022, the uptick from 2023 suggests that the market may be stabilizing and heading towards a more balanced state.

Pending Sales

The pending sales data for single-family homes, condominiums, and townhouses in the Charlotte area provides valuable insights into the market’s trajectory over recent years. In September 2022, pending sales were at 42,078, already indicating a slowing trend from 2021. By September 2023, this figure had declined to 33,309.

This significant decrease highlights the challenges the market faced, including potential issues with affordability and inventory shortages. Despite these challenges, there are signs of stabilization. While September 2024 pending sales were still decreased at 33,029, this number is higher than we have seen since the beginning of 2024, suggesting that the market may be finding its footing and beginning to stabilize.

Sales Price

The median sales price for single-family homes, condominiums, and townhouses in the Charlotte area has shown a consistent upward trend over the past three years. In September 2022, the median sales price was $381,780. By September 2023, this figure had increased to $393,000, reflecting a notable rise in property values. The upward trajectory continued into September 2024, with the median sales price reaching $400,000.

This steady increase in median sales prices indicates a strong demand for housing in the Charlotte area, likely driven by factors such as economic growth, population influx, and limited housing supply. The trend suggests a favorable environment for sellers, as property values continue to appreciate. Buyers, on the other hand, may face higher costs and should consider acting sooner rather than later to avoid further price increases.

Days on Market

The median days on market for single-family homes, condominiums, and townhouses in the Charlotte area showed notable changes from 2022 to 2024. In September 2022, the median was 5 days, and remained at this low level throughout most of 2022, reflecting a highly competitive market.

However, from late 2022 into 2023, the median days on market began to rise, reaching 12 days by September 2023 and then 13 days by September 2024 after a slight dip in March and April, indicating a shift from the competitive conditions of the previous years to a slower market where properties take longer to sell.

The data for September 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. Median home sale prices continue to appreciate, reaching $400,000, and new listings are on the rise. While pending sales are down compared to previous years, the September 2024 data shows signs of stabilization. Additionally, properties are taking longer to sell with the median days on market consistently at 13, up from 5 days in September 2022. These trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in the evolving Charlotte real estate market.

August 2024 Market Trends

Posted on September 10, 2024 by MTHadmin

New Listings

The latest data for the Charlotte area reveals intriguing insights into the dynamics of new home listings over the past few years. In August 2022, the number of new listings for single-family homes, condominiums, and townhouses was 50,172. This figure dropped significantly to 38,798 by August 2023, indicating a substantial decline in inventory.

However, the market appears to be showing signs of recovery. By August 2024, the number of new listings increased to 42,568. While this figure is still below the levels seen in 2022, the uptick from 2023 suggests that the market may be stabilizing and heading towards a more balanced state.

Pending Sales

The pending sales data for single-family homes, condominiums, and townhouses in the Charlotte area provides valuable insights into the market’s trajectory over recent years. In August 2022, pending sales reached 43,340, reflecting a robust period for the housing market. However, by August 2023, this figure had declined to 33,634, indicating a slowing trend.

This significant decrease highlights the challenges the market faced, including potential issues with affordability and inventory shortages. Despite these challenges, there are signs of stabilization. While August 2024 pending sales were still decreased at 32,860, this number is higher than we have seen for the previous six months, suggesting that the market may be finding its footing and beginning to stabilize.

Sales Price

The median sales price for single-family homes, condominiums, and townhouses in the Charlotte area has shown a consistent upward trend over the past three years. In August 2022, the median sales price was $377,500. By August 2023, this figure had increased to $393,000, reflecting a notable rise in property values. The upward trajectory continued into August 2024, with the median sales price reaching $400,000.

Days on Market

The median days on market for single-family homes, condominiums, and townhouses in the Charlotte area showed notable changes from 2022 to 2024. In August 2022, the median was 4 days, and remained at this low level throughout most of 2022, reflecting a highly competitive market.

However, from late 2022 into 2023, the median days on market began to rise, reaching 12 days by August 2023 and returning to 12 days in August 2024 after a slight dip in April, indicating a shift from the competitive conditions of the previous years to a slower market where properties take longer to sell.

The data for August 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. While median home sale prices continue to appreciate, reaching $400,000, and new listings are on the rise, there’s a decrease in pending sales compared to previous years, dropping to 32,860, down from 33,634 in August 2023. Additionally, properties are taking longer to sell, with median days on market consistently at 12, up from 4 days in August 2022. These trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in the evolving Charlotte real estate market.

July 2024 Market Trends

Posted on August 7, 2024 by MTHadmin

New Listings

The latest data for the Charlotte area reveals intriguing insights into the dynamics of new home listings over the past few years. In July 2022, the number of new listings for single-family homes, condominiums, and townhouses was 50,947. This figure dropped significantly to 39,280 by July 2023, indicating a substantial decline in inventory.

However, the market appears to be showing signs of recovery. By July 2024, the number of new listings increased to 42,133. While this figure is still below the levels seen in 2022, the uptick from 2023 suggests that the market may be stabilizing and heading towards a more balanced state.

Pending Sales

The pending sales data for single-family homes, condominiums, and townhouses in the Charlotte area provides valuable insights into the market’s trajectory over recent years. In July 2022, pending sales reached 44,459, reflecting a robust period for the housing market. However, by July 2023, this figure had declined to 34,262, indicating a slowing trend.

This significant decrease highlights the challenges the market faced, including potential issues with affordability and inventory shortages. Despite these challenges, there are signs of stabilization. While July 2024 pending sales were still decreased at 32,849, this number is higher than we have seen for the previous three months, suggesting that the market may be finding its footing and beginning to stabilize.

Sales Price

The median sales price for single-family homes, condominiums, and townhouses in the Charlotte area has shown a consistent upward trend over the past three years. In July 2022, the median sales price was $374,000. By July 2023, this figure had increased to $393,800, reflecting a notable rise in property values. The upward trajectory continued into July 2024, with the median sales price reaching $400,000.

Days on Market

The median days on market for single-family homes, condominiums, and townhouses in the Charlotte area showed notable changes from 2022 to 2024. In July 2022, the median was 4 days, and remained at this low level throughout most of 2022, reflecting a highly competitive market.

However, from late 2022 into 2023, the median days on market began to rise, reaching 11 days by July 2023 and peaking at 12 days in July 2024, indicating a shift from the competitive conditions of the previous years to a slower market where properties take longer to sell.

The data for July 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. While median home sale prices continue to appreciate, reaching $400,000, and new listings are on the rise, there’s a decrease in pending sales compared to previous years, dropping to 32,849, down from 24,262 in July 2023. Additionally, properties are taking longer to sell, with median days on market rising to 12, up from 11 in July 2023. These trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in the evolving Charlotte real estate market.

June 2024 Market Trends

Posted on July 10, 2024July 10, 2024 by MTHadmin

New Listings

The latest data for the Charlotte area reveals intriguing insights into the dynamics of new home listings over the past few years. In June 2022, the number of new listings for single-family homes, condominiums, and townhouses was 51,096. This figure dropped significantly to 40,802 by June 2023, indicating a substantial decline in inventory.

However, the market appears to be showing signs of recovery. By June 2024, the number of new listings increased slightly to 41,387. While this figure is still below the levels seen in 2022, the uptick from 2023 suggests that the market may be stabilizing and heading towards a more balanced state.

Pending Sales

The pending sales data for single-family homes, condominiums, and townhouses in the Charlotte area provides valuable insights into the market’s trajectory over recent years. In June 2021, pending sales reached 48,560, reflecting a robust period for the housing market. However, by June 2022, this figure had declined to 45,379, indicating a slowing trend.

The decline continued into June 2023, with pending sales dropping to 34,727. This significant decrease highlights the challenges the market faced, including potential issues with affordability and inventory shortages. Despite these challenges, there are signs of stabilization. While June 2024 pending sales were still decreased at 32,806, this number is higher than we have seen for the previous three months, suggesting that the market may be finding its footing and beginning to stabilize.

Sales Price

The median sales price for single-family homes, condominiums, and townhouses in the Charlotte area has shown a consistent upward trend over the past three years. In June 2022, the median sales price was $368,333. By June 2023, this figure had increased to $393,045, reflecting a notable rise in property values. The upward trajectory continued into June 2024, with the median sales price reaching $399,900.

Days on Market

The median days on market for single-family homes, condominiums, and townhouses in the Charlotte area showed significant changes from 2021 to 2024. In January 2021, the median was 7 days, dropping to 4 days by June 2021, and remaining at this low level throughout most of 2022, reflecting a highly competitive market.

However, from late 2022 into 2023, the median days on market began to rise, reaching 10 days by June 2023 and peaking at 12 days in the fall of 2023. In 2024, the median stabilized at around 11 days from January to June, indicating a shift from the competitive conditions of the previous years to a slower market where properties take longer to sell.

The data for June 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. While median home sale prices continue to appreciate, reaching $399,900, there’s a decrease in both new listings and pending sales compared to previous years. New listings were 41,387, slightly up from 40,802 in June 2023 but well below 51,096 in June 2022. Pending sales dropped to 32,806, down from 34,727 in June 2023 and 45,379 in June 2022. Additionally, properties are taking longer to sell, with median days on market rising to 11 from 10 in June 2023 and 4 in June 2022. These trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in the evolving Charlotte MSA real estate market.

May 2024 Market Trends

Posted on June 11, 2024 by MTHadmin

New Listings

In May 2024, the number of new home listings in the Charlotte area was decreased at 40,898, compared to 42,288 in May 2023. This indicates a decline in listings year-over-year, suggesting a potential shift in the housing market dynamics. However, this decrease in new listings may present a favorable environment for sellers, as reduced inventory levels could lead to increased competition among buyers, potentially driving up property prices.

Pending Sales

In May 2024, pending home sales in the Charlotte area dropped to 32,714, down from 35,094 in May 2023. This decline signals a decrease in buyer activity year-over-year, which could indicate challenges in the housing market such as affordability concerns or inventory shortages. Nevertheless, this dip in pending home sales might offer an advantage to sellers by potentially reducing competition and allowing for more favorable negotiation terms.

Sales Price

In May 2024, the median home sale price in the Charlotte area increased to $398,751, up from $395,000 in May 2023. This modest rise suggests a relatively stable market with consistent appreciation in home values year-over-year. Such steady growth can provide assurance to homeowners and investors alike, reflecting the region’s resilience in the face of economic fluctuations.

Days on Market

In May 2024, the median days on the market for homes for sale in the Charlotte area remained consistent with April’s data at 10 days, compared to 9 days in May 2023. This suggests a consistent pace of home sales and a relatively brisk market, reflecting continued interest in the region’s real estate offerings.

The data for May 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. While median home sale prices continue to show modest appreciation year-over-year, there’s a notable decrease in pending sales, signaling a potential shift in buyer-seller dynamics. Overall, these trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in navigating the evolving real estate market in the Charlotte MSA.

April 2024 Market Trends

Posted on May 10, 2024 by jefflunn

New Listings

In April 2024, the number of new home listings in the Charlotte area decreased to 40,114, compared to 43,520 in April 2023. This indicates a decline in listings year-over-year, suggesting a potential shift in the housing market dynamics. However, this decrease in new listings may present a favorable environment for sellers, as reduced inventory levels could lead to increased competition among buyers, potentially driving up property prices.

Pending Sales

In April 2024, pending home sales in the Charlotte area dropped to 32,919, down from 35,854 in April 2023. This decline signals a decrease in buyer activity year-over-year, which could indicate challenges in the housing market such as affordability concerns or inventory shortages. Nevertheless, this dip in pending home sales might offer an advantage to sellers by potentially reducing competition and allowing for more favorable negotiation terms.

Sales Price

In April 2024, the median home sale price in the Charlotte area increased to $396,000, up from $395,500 in April 2023. This modest rise suggests a relatively stable market with consistent appreciation in home values year-over-year. Such steady growth can provide assurance to homeowners and investors alike, reflecting the region’s resilience in the face of economic fluctuations.

Days on Market

In April 2024, the median days on the market for homes for sale in the Charlotte area increased to 10 days, compared to 8 days in April 2023. This uptick suggests a slight slowdown in the pace of home sales, possibly attributed to factors such as increased inventory or adjustments in buyer demand. Despite this change, the market remains relatively brisk, reflecting continued interest in the region’s real estate offerings.

The data for April 2024 paints a nuanced picture of the Charlotte area’s real estate landscape. While median home sale prices continue to show modest appreciation year-over-year, there’s a notable increase in the median days on market, signaling a potential shift in buyer-seller dynamics. Overall, these trends underscore the importance of staying attuned to market fluctuations and adapting strategies accordingly in navigating the evolving real estate market in the Charlotte MSA.

March 2024 Market Trends

Posted on April 10, 2024April 10, 2024 by MTHadmin

New Listings

In March 2024, new listings in the Charlotte area remained relatively stable, with a slight increase from 3,902 in March 2023 to 3,918. This minor uptick suggests a continued level of market activity, providing both buyers and sellers with opportunities in the real estate market. Despite fluctuations, the Charlotte area maintains a resilient housing landscape, offering a range of options for those entering the market or looking to make a move.

Pending Sales

In March 2024, pending sales in the Charlotte area declined, dropping to 33,091 compared to 36,366 in March 2023. This downward trend suggests a decrease in market activity over the past year, indicating potential shifts in buyer demand or economic conditions. Despite these changes, the Charlotte area’s real estate market remains dynamic, offering opportunities for both buyers and sellers.

Sales Price

In March 2024, the median sales price in the Charlotte area continued to show stability, reaching a median price of $395,000 compared to $397,000.00 in March 2023. This figure reflects a marginal decrease from the previous year, indicating ongoing resilience in the market despite potential fluctuations. Over the past twelve months, median sales prices have remained relatively steady, highlighting the consistent value of properties in the Charlotte area.

Days on Market

In March 2024, the median days on market in the Charlotte area decreased to 10 days, compared to 12 days near the end of 2023. This is still elevated from a median of 7 days in March 2023, but indicates a modest improvement in market efficiency in recent months, with properties spending slightly less time on the market before being sold. Despite fluctuations, the median days on market have remained relatively stable, suggesting a consistent pace of transactions in the Charlotte area’s real estate market.

In conclusion, our analysis of the housing market trends for March paints a picture of a resilient landscape. While new listings and median days on market indicate healthy market activity, stable median sales prices suggest a balanced pricing environment. Additionally, the slight decrease in new listings from the previous year reflects ongoing changes in market dynamics, signaling a modest adjustment in buyer demand. Overall, these insights offer valuable perspectives for buyers and sellers navigating the housing market in the Charlotte area.

February 2024 Market Trends

Posted on March 12, 2024 by MTHadmin

New Listings

In February 2024, new listings in the Charlotte area experienced an increase, rising to 3,376 compared to 2,775 in February 2023. This uptick indicates a positive trend in market activity, with more properties entering the market for sale. The rise in new listings suggests potential opportunities for both buyers and sellers in the Charlotte area real estate market.

Pending Sales

In February 2024, pending sales in the Charlotte area experienced a decrease compared to the same period in the previous year, declining from 36,710 in February 2023 to 33,220. This decline indicates a shift in market dynamics, suggesting a decrease in buyer activity during this period. Despite this decrease, the real estate market in the Charlotte area continues to adapt to changing conditions.

Sales Price

In February 2024, the median sales price in the Charlotte area was $393,495, showing a slight decrease compared to the same period in the previous year, when it was $396,000 in February 2023. This slight decline suggests a stabilization or softening of prices within the market. Despite this minor fluctuation, the Charlotte area continues to maintain relatively strong property values, offering valuable opportunities for both buyers and sellers in the real estate market.

Days on Market

In February 2024, the median days on market in the Charlotte area stood at 11 days, showing a slight increase from the same period in the 2023 when it was 6 days. This uptick indicates a modest lengthening of the time properties spend on the market. Despite this increase, the Charlotte area continues to maintain relatively efficient market conditions, with properties generally selling within a short timeframe.

In conclusion, our analysis of the housing market trends for February paints a picture of a resilient landscape. While new listings and pending sales indicate healthy market activity, stable median sales prices suggest a balanced pricing environment. Additionally, the slight increase in median days on market from the previous year reflects ongoing market dynamics, signaling a modest adjustment in property turnover rates. Overall, these insights offer valuable perspectives for buyers and sellers navigating the housing market in the Charlotte area.