Luxury Homes Market Charlotte Region: June 2023

 

Luxury homes market in Charlotte update for June 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 15.2% decrease in new listings year-over-year after increasing in May 2023. Inventory increased year-over-year by 3.4%. The months supply of inventory remained unchanged at 3.3 months year-over-year. Median home sale prices declined 1.7%, while average home sale prices increased 0.6%. Closed sales dropped 3% in June 2023 versus the same month one year ago. Median list to sale price ratio decreased 0.9% year-over-year, but was still 100%. Buyer foot traffic decreased 2.7% from 7.3 showings per home to 7.1 showings year-over-year. Median days on market were just four in June, remaining unchanged versus the same month one year ago.

 

MONTH-OVER-MONTH TRENDS IN THE LUXURY HOME MARKET IN CHARLOTTE REGION

Month-over-month, the luxury homes market in Charlotte saw new listings decrease in June 2023 with 285 new listings versus 328 in May.  Average and median sale prices decreased.  Closed sales increased in June versus May. Pending sales declined compared with May 2023. The list to sale price ratio was unchanged at 100% month-over-month. Active listings increased in June compared with May. Average days on market decreased by three days in June compared with May 2023.  The months supply of inventory increased by 0.2 months. Buyer foot traffic remained flat at 7.1 showings month-over-month.

 

 

Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region June 2023:

• Homes Sold: 228 in June 2023, down 3% compared with June 2022. The number of homes sold month-over-month increased by 11 homes.
• Pending Sales: 208 in June 2023, up 5.6% compared with June 2022. Pending sales declined month-over-month by 16 homes.
• New Listings: 285 in June  2023, down 15.2% compared with June 2022. New listings decreased by 43 homes month-over-month.
• Inventory of Homes: up 3.4% to 513 in June 2023 compared with June 2022.  Inventory increased by 32 homes from May 2023. 
• Months Supply of Homes:  flat at 3.3 months supply compared with June 2022. Months supply of homes increased 0.2 months from the previous month of May.
• Average Days on Market: 27 days in June 2023 compared with 18 days in June 2022.  Average days on market decreased by 3 days month-over-month.
• Median Days on Market: flat at 4 days year-over-year and month-over-month.
• Average Sale Price: up 0.6% year-over-year to $1,610,336. Month-over-month average sale price increased approximately $10,000.
• Median Sale Price: down 1.7% year-over-year to $1,327,500.  Month-over-month, median home sale price increased by approximately $52,000.
• Median % Of List Price Received: decreased 0.9% to 100% in June 2023 compared with 100.9% in June 2022. Month-over-month, the list to sale price ratio was unchanged.

 

THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN JUNE 2023

The most expensive home sold in the Charlotte region in June 2023, sold for $5,250,000 in south Charlotte’s Highland Forest neighborhood.  Built in 2019 by Kingswood, the custom-built stucco home is situated on two acres and features 5 bedrooms, 5.3 bathrooms, 7,491 square feet of heated living area on two levels. Amenities included a covered pavilion with fireplace and kitchen,  outdoor shower, in-ground pool with waterfall + hot tub, fire pit, a 1,213 square foot 4-car garage, theatre room, gym.

 

Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?

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Call us today at 704-779-0813 or contact us here.

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This Charlotte region luxury housing market update is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate experts serving Charlotte area luxury home buyers and sellers for 24+ years.

 

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:

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