Charlotte Real Estate May 2025

Latest news on Charlotte real estate May 2025 and what it means for you…

Overall Market Performance

Closed sales: Down 3.4% YoY (4,018 homes), but up 9%% from April.
Pending sales: Rose 16.6% YoY and 2.2% from April.
Buyers remained active as mortgage stability brings more confidence.

Inventory Growth – Supply Nears 2018 Levels

New listings: Up 13.6% YoY (6,287 homes) and up 6% from April.
Total inventory: Surged 39.3% to just over 11,000 homes (the highest level since October 2018). Inventory increased a 19th consecutive month in May 2025.
Months Supply of Inventory: Increased to 3.1
months from 2.3 YoY and 2.8 MoM
By Property Type:
- Townhome Inventory: Up 64.4% | Months Supply: 3.3
- Condo Inventory: Up 58.2% | Months Supply: 4.1
- Single Family Inventory: up 35.3% | Months Supply: 3.0

Prices Held Despite Inventory Growth

Median sales price: Up 1.3% YoY to $405,000
Average sales price: Up 0.6% YoY to $525,220
Average list price: Up 8% YoY to $589,234
List to sale price ratio: 96.6%, down from 97.8% YoY and down MoM from 96.8%

Homes Took Longer to Sell

Days on Market (DOM): Up 26.5% to 43 days from 34 days in May 2024, but down from 47 days one month ago

Buyer Activity – Showing Trends

Showings: down 14.5% YoY across the metro area
Average showings per listing: 4.7, down from 5.1 one month ago
- Top areas:
  - Matthews: 5.8 showings (down from 6.9 in April)
  - Charlotte: 5.1 showings
  - Kannapolis: 5.2 showings (down from 5.8 in April)
  - Concord: 5.2 showings (down from 5.7 in April)

Despite the increase in new listings and inventory, May’s months supply of homes for sale at 3.1 months kept the Charlotte region in “home seller territory.” Mortgage rate stability remains critical to sustaining home sales in 2025. The market continues to shift towards balance. Buyers are gaining leverage in negotiating prices and terms and sellers must price smartly and strategically. Despite growing inventory, prices are holding and the market remains favorable for well-positioned listings. Pending sales signal strong buyer interest heading into the summer months.

CHARLOTTE REGION May 2025 REAL ESTATE SNAPSHOT

Based on information from Canopy MLS for the period May 1, 2025-May 31, 2025 in the 16 County Charlotte Region.

HOME BUYER & SELLER GUIDES

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