Charlotte Luxury Homes Market: December 2021
Charlotte luxury homes market in December 2021 saw continued demand for luxury homes with an increase in closed and pending sales and average sale price year-over-year. Average and median days on market were down significantly year-over-year. While new listings increased, inventory was down year-over-year and the months supply of homes was also down year-over-year and month-over-month. With just 1.2 months of inventory, the luxury segment of Charlotte’s housing market remained a seller’s market in the month of December.
Latest news on Charlotte Region’s luxury housing market in December and what it means for you…
Charlotte Region’s single family luxury homes real estate market remained solid despite a 36.7% year-over-year decline in inventory. This low level of inventory has not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as was the months supply of inventory.
Luxury home sellers continued to see a higher sale price as a percent of listing price. Median home sale prices were down slightly at 3.4%, while average sales prices increased 0.4% year-over-year.
Earlier this year there was concern that luxury home buyers might “give in” to buyer fatigue and take a “wait and see” position due to frustrations caused by multiple offers, declines in inventory, and the lack of inventory. Thus far this does not appear to be the case and the luxury market remains a seller’s market. December’s increase in closed and pending sales year-over-year can be attributed to the increase in new listings and continued demand for luxury homes.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region December 2021:
- Homes Sold: 302 in December 2021, up 30.7% compared with December 2020.
- Pending Sales: 196 in December 2021, up 54.3% compared with December 2020.
- New Listings: 167 in December 2021 up 26.5% compared with December 2020.
- Inventory of Homes: down 36.7% to 373 in December 2021 compared with December 2020.
- Months Supply of Homes: down 57.1% with 1.2 months supply compared with 2.8 months supply in December 2020 and 4.7 months supply in December 2019. Months supply of homes was also down month-over-month.
- Average Days on Market: 36 days in December 2021 compared with 52 days in December 2020 and 72 days in December 2019.
- <strong>Median Days on Market: 8 days in December 2021 compared with 23 days in December 2020 and 34 days in December 2019.
- Average Sale Price: up 0.4% at $1,245,979 in December 2021 compared with $1,240,849 in December 2020. Average sale price was also up month-over-month.
- Median Sale Price: down 3.4% at $1,000,000 in December 2021 compared with $1,035,433 in December 2021. Median sale price was also up month-over-month.
- Median % Of List Price Received: up 2.6% to 100% in December 2021 compared with 97.5% in December 2020.
The most expensive home sold in the Charlotte Region in December 2021 sold for $6,000,000 in Quail Hollow overlooking the 14th fairway of the Quail Hollow Country Club. Situated on .80 park-like acres and built in 2004, the brick and stone estate home featured 9,106 square feet of heated living area on four levels, 5 bedrooms, 6 full bathrooms, 2 half bathrooms, grand foyer, chef’s kitchen, stunning golf course views, expansive wine cellar, two offices/studies, interior elevator. The outdoor living space featured a covered balcony, an in-ground pool and hot tub, kitchen. A 4+ car garage and golf cart garage provided ample parking.
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This Charlotte region luxury housing market update is provided by Nina Hollander with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate experts serving Charlotte area luxury home buyers and sellers since 1999.
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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