Charlotte Real Estate December 2024
December 2024 closed home sales improved 13.1% in the 16-County Charlotte Region. This was the third consecutive month of improved closed sales. October 2024 was the first month to see an increase in closed sales since July 2024. Year-to-date, closed sales were improved 0.7% year-over-year. Pending sales increased compared with one year ago — up 11.8% year-over-year. Year-to-date, pending sales were up 1.5% compared with the same time period one year ago.
Days on market increased 42.9% to 50 days in December compared with the same month one year ago and were up five days month-over-month. Year-to-date, days on market increased by three days to 39 days (up one day from the previous month). Year-over-year, days on market are up almost 43%.
The Charlotte region’s home prices remained on the rise in December 2024 with buyer demand steady. Average sale price increased 4.3% in December to $476,952 compared with the same month one year ago, while the median sale price increased 4.1% year-over-year to $385,000. This was the 17th consecutive month of year-over-year sale price increases. Year-to-date, both median and average sale prices increased from one year ago, 3.5% and 6.8%, respectively.
The December list to sale price ratio declined 1.2% year-over-year to 95.1%. Year-to-date, the list to sale price ratio declined 0.5% in December compared with one year ago. Home buyers are seeing opportunities to negotiate on price. Price reductions were up 42% year-over-year across the Charlotte region.
December new listings increased 1.5% year-over-year. Year-to-date, new listings increased 12% from 2023. December 2024 new listings were higher by 38 properties compared with December 2023. December 2024 marks the 14th consecutive month of increases in new listings. Despite the increase in new listings, the average list price increased 4.2% in December 2024 compared with December 2023. In 2024, the average list price increased 5.4% over 2023. Although listing activity has increased, it hasn’t been enough to significantly impact supply and home prices.
Overall inventory increased 24.7% from the same month last year. Despite the increase in new listings and inventory, December’s months supply of homes for sale at 2.3 months, down 0.3 months from the prior month, kept Charlotte region in “home seller territory.” The Charlotte housing market is nowhere near balanced as yet and buyer demand continues to outpace supply.
Buyer foot traffic increased declined in December to 3.7 showings per listing versus 4.5 showings one year ago. At the same time, the average number of showing till contract was nine in both December 2024 and December 2023.
CHARLOTTE REGION DECEMBER 2024 REAL ESTATE SNAPSHOT
Based on information from Canopy MLS for the period December 1, 2024-December 31, 2024 in the 16 County Charlotte Region.
HOUSING MARKET FORECASTS FOR 2025
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PREVIOUS CHARLOTTE HOUSING MARKET UPDATES
Charlotte Real Estate Report: November 2024
Charlotte Real Estate Report: October 2024
Charlotte Real Estate Report: September 2024
Charlotte Real Estate Report: August 2024
Charlotte Real Estate Report: July 2024
Charlotte Real Estate Report: June 2024
Charlotte Real Estate Report: May 2024
Charlotte Real Estate Report: April 2024
Charlotte Real Estate Report: March 2024