Charlotte Real Estate September 2024

Latest news on Charlotte real estate September 2024 and what it means for you…

Counties In Charlotte Region's MLS

September 2024 closed home sales declined 7.3% in the 16-County Charlotte Region year-over-year and also declined 13.4% versus the previous month of August. Pending sales, however, increased compared with one year ago — up 14.4% year-over-year.  This could set the stage for higher sales in the next few months.

 

The growth in pending sales and contract year-over-year are due to interest rates moving close to 6% during the month of September.

 

Days on market increased 31% to 38 days in September compared with the same month one year ago and up four days month-over-month. Year-to-date, days on market also remained unchanged compared with one year ago at 37 days.

 

The Charlotte region’s home prices remained on the rise. Average sale price increased 7.1% in September to $502,717 compared with one year ago, while the median sale price increased 3.9% year-over-year to $399,000.  This was the 14th consecutive month of year-over-year sale price increases. Year-to-date, both median and average sale prices increased from one year ago, 3.7% and 7.4%, respectively. Month-over-month, both average and median home sale prices were flat.  

 

The September list to sale price ratio declined 1.3% year-over-year to 96.3%. Month-over-month, the list to sale price ratio declined 0.3%. Year-to-date, the list to sale price ratio declined 0.2% in September compared with one year ago. Home buyers are seeing opportunities to negotiate on price. Price reductions from January through September 2024 were up 60.8% across the Charlotte region versus 2023. In September 2024 we saw price reductions increase 57.3% versus September 2023.

 

September new listings increased 7.5% year-over-year. September new listings were higher by 328 properties compared with September 2023. September 2024 marks the 11th consecutive month of increases in new listings compared with last year. Despite the increase in new listings, the average list price increased 7.4% in September 2024 compared with September 2023. While listing activity has increased, it hasn’t been enough to significantly impact supply and home prices.

 

Overall inventory increased 42% from the same time last year. Despite the increase in new listings and inventory, September’s months supply of homes for sale at 2.7 months kept Charlotte region in “home seller territory.” Mecklenburg County had just 2.4 months of inventory in September, while Charlotte also had 2.4 months of inventory. The Charlotte housing market is nowhere near balanced as yet.

 

CHARLOTTE REGION SEPTEMBER 2024 REAL ESTATE SNAPSHOT

Charlotte Region housing market snapshot for September 2024

Based on information from Canopy MLS for the period September 1, 2024-September 30, 2024 in the 16 County Charlotte Region.

 

WHY BUYING A HOME NOW IS WORTH IT

You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now. 

 

Why buying a home in 2024 is worth it

 

DON’T FALL FOR THESE REAL ESTATE MYTHS

 

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

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LOOKING FOR YOUR DREAM HOME IN GREATER CHARLOTTE? 

 

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FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

 

PREVIOUS CHARLOTTE HOUSING MARKET UPDATES

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

Charlotte Real Estate Report: February 2024     

Charlotte Real Estate Report: January 2024