Luxury homes market in Charlotte region in April saw closed sales decrease year-over-year, while closed sales increased month-over-month. Pending sales increased both year-over-year and month-over-month. Average sale price increased over April 2022. Average days on market increased from the same time last year, but decreased compared with March 2023. The months supply of inventory was up compared with March 2022. The list to sale price ratio stood at 100% in April 2023.
Charlotte Region Luxury Home Market Overview: April 2023
Luxury homes market in Charlotte update for April 2023 and what it means for you…
YEAR-OVER-YEAR TRENDS IN THE LUXURY HOME MARKET IN CHARLOTTE REGION
The luxury homes market in Charlotte saw a 2.1% decrease in new listings year-over-year, while inventory increased year-over-year by 26.8%. The months supply of inventory increased from 2.3 months one year ago to 2.7 months. Median home sale prices increased slightly by 0.4%, while average home sale prices increased 1.9%. Closed sales decreased in April 2023 versus the same month one year ago. Median list to sale price ratio decreased 4.2% year-over-year, but was still 100%. Buyer foot traffic decreased 11.6% from 9.5 showings per home to 8.4 showings year-over-year.
MONTH-OVER-MONTH TRENDS IN THE LUXURY HOME MARKET IN CHARLOTTE REGION
On a month-over-month basis, the luxury homes market in Charlotte saw new listings decrease compared with March 2023 with just 284 new listings in April versus 298 in March. Average sales prices decreased, as did median sale prices. Closed sales increased significantly in April versus March. Pending sales also increased significantly compared with March 2023. The list to sale price ratio was higher month-over-month. Active listings increased in April compared with March. Average days on market decreased in April compared with March 2023. Median days on market were half that of March. The months supply of inventory increased slightly by 0.1 month. Buyer foot traffic decreased slightly from 9 showings in March 2023 to 8.4 showings in April 2023.
Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region April 2023:
Homes Sold: 154 in April 2023, down 14.4% compared with April 2022. The number of homes sold month-over-month increased by 26 homes.
Pending Sales: 247 in April 2023, up 10.3% compared with April 2022. Pending sales increased month-over-month by 48 homes.
New Listings: 284 in April 2023, down 2.1% compared with April 2022. New listings decreased by 14 homes month-over-month.
Inventory of Homes: up 26.8% to 414 in April 2023 compared with April 2022. Inventory decreased by 12 homes from March 2023.
Months Supply of Homes: up 17.4% to 2.7 months supply compared with 2.3 months supply in April 2022. Months supply of homes increased 0.1 months, month-over-month.
Average Days on Market: 29 days in April 2023 compared with 14 days in April 2022. Average days on market decreased by 14 days month-over-month.
Median Days on Market: 4 days in April 2023 up 1 day over April 2022. Month-over-month, median days on market decreased 4 days.
Average Sale Price: up 1.9% year-over-year to $1,729,364. Month-over-month average sale price decreased approximately $139,000.
Median Sale Price: up 0.04% year-over-year at $1,354,900. Month-over-month, median home sale price decreased by approximately $236,000.
Median % Of List Price Received: decreased 4.2% to 100% in April 2023 compared with 104.2% in April 2022. Month-over-month, the list to sale price ratio increased 1.1%.
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN APRIL 2023
The most expensive home sold in the Charlotte region in April 2023, sold for $4,650,000 in Charlotte’s historic Myers Park neighborhood. Built in 1916, the stately, updated, brick home is situated on 0.84 acres and features 4 bedrooms, 6 bathrooms, 5,461 square feet of heated living area spread over four levels. Amenities included an exercise room, wine cellar, rooftop terrace, in-ground pool, 2-car detached garage.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?
If you’re considering selling or purchasing a luxury home in the Charlotte region, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: