Charlotte luxury homes market in August 2022 saw solid demand for luxury homes with both pending and closed sales up year-over-year, as were average sale prices. Despite an increase in inventory and new listings, sellers received a higher list to sale price ratio of 100%. Month-over-month, pending and closed sales were down, months supply of homes were down slightly, average days on market were up, new listings were down.
Charlotte Region’s Luxury Home Market Overview: August 2022
Latest news on Charlotte Region’s luxury housing market in August 2022 and what it means for you…
Despite predictions of a significant market correction in 2022, Charlotte Region’s single family luxury homes real estate market remained relatively strong year-over-year and continued to “hold its own” through August 2022. Mediandays on market were flat at 7 days, year-over-year; average days on market increased 5 days year-over-year. The luxury market saw an increase in new listings year-over-year as well as in total inventory. Nonetheless, median home sale prices were flat year-over-year, while average home sale prices increased 9.5%. Both pending and closed sales increased in August 2022 versus the same month one year ago. Median % of list price received increased 0.1% to 100% in August 2022 compared with August 2021.
On a month-over-month basis, new listings increased 20.6% compared with July 2022. Average sales prices increased month-over-month, while median sale prices decreased. The list to sale ratio decreased slightly compared with July 2022, by 0.1%. Active listings in August were higher by two homes compared with July. New listings were down compared with July 2022. The months supply of inventory also dropped slightly month-over-month. Buyer foot traffic decreased slightly from 8.2 showings per home to 7.8 showings on a month-over-month basis.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region August 2022:
Homes Sold: 175 in August 2022, up 1.7% compared with August 2021. The number of homes sold down down month-over-month by 25 homes.
Pending Sales: 168 in August 2022, up 20.0% compared August 2021. Pending sales were down month-over-month by 30 homes.
New Listings: 217 in August 2022 up 20.6% compared with August 2021. New listings dropped by 65 homes month-over-month.
Inventory of Homes: up 46.2% to 506 in August 2022 compared with August 2021. Inventory of homes was up by just two homes month-over-month.
Months Supply of Homes: up 23.1% to 3.2 months supply compared with 2.6 months supply in August 2021. Months supply of homes was down 0.1 months over July 2022.
Average Days on Market: 32 days in August 2022 compared with 27 days in August 2021. Average days on market increased 18 days month-over-month.
Median Days on Market: 7 days in August 2022 with no change compared with August 2021. Median days on market were four days higher month-over-month.
Average Sale Price: up 9.5% at $1,583,330 in August 2022 compared with $1,506,863 in August 2021.
Median Sale Price: flat year-over-year at $1,305,000. Month-over-month, median home sale prices dropped $43,572.
Median % Of List Price Received: up 0.1% to 100% in August 2022 compared with 99.9% in August 2021. Month-over-month, median % of list price received decreased 0.1%.
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN AUGUST 2022
The most expensive home sold in the Charlotte region in August 2022, sold for $5,120,000 on Lake Norman in Mooresville. Built on 1.03 acres in 2007, this was a 7,539 square foot, French Provincial style, custom-built home. The home featured four bedrooms, five full bathrooms, two half bathrooms, 4+ car garage, in-ground pool, boat lift, stationery dock, and a beach.
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: