Luxury Homes Market Charlotte Region: April 2024

YEAR-OVER-YEAR TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET 

The April 2024 luxury homes market in Charlotte saw a 37.7% increase in new single family home listings year-over-year. 2024 year-to-date, new luxury listings are up 33.5%.  Inventory  increased year-over-year by 39.5%.  Year-to-date luxury inventory is up 28.8%. The months supply of inventory remained in seller “territory,” despite increasing to 3.4 months from 2.8 months year-over-year. Year-to-date, the months supply of inventory stands at 3.0 months. Median home sale price declined 7.8% to $1,387,500, while the average home sale price declined 2.4%. Closed sales increased 31.2% in April 2024 versus the same month one year ago. Pending sales improved 12.4% from one year ago. Year-to-date, closed and pending sales increased 31.4% and 21.4%, respectively. Median list to sale price ratio declined 1.2% to 98.8%. Buyer foot traffic declined in April 2024 to 7.4 showings per listing from 8.4 showings in the same month last year.  Median days on market were 7 in April, increasing from 4 days the same month one year ago. Year-to-date, median days on market were 9 days.

MONTH-OVER-MONTH TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET 

Month-over-month, the April 2024 luxury homes market in Charlotte saw new single family home listings increase from March 2024 with 391 new listings versus 329 in the prior month.  Median sale price was flat month-over-month. The average sale price was also flat, declining by $5,000.  Closed sales increased in April versus March, while pending sales also increased month-over-month. The list to sale price ratio increased slightly by 0.2% from March.  Active listings increased from March to 590 properties from 516. Median days on market  increased 2 days, while average days remained unchanged at 38 days compared with from 2024. The months supply of inventory increased 0.4 months from March. Buyer foot traffic in April remained steady, increasing slightly to 7.4 showings from 7.3 showings per active listing in March.

 

 

 

Luxury Homes Market Charlotte Region April 2024 Snapshot

• Homes Sold: 202 in April 2024, up 31.2% compared with April 2023. The number of homes sold month-over-month increased by 28 homes.
• Pending Sales: 271 in April 2024, up 12.4% compared with April 2023. Pending sales increased month-over-month by 17 homes.
• New Listings: 391 in April 2024, up 37.7% compared with April 2023. New listings increased by 52 homes month-over-month.
• Inventory of Homes: up 39.5% to 590 in April 2024 compared with April 2023.  Inventory increased by 74 homes from the previous month. 
• Months Supply of Homes:  was 3.4 months, up from 2.8 months in April 2023. Months supply of homes increased 0.4 months from March 2024.
• Average Days on Market: 38 days in April 2024 compared with 29 days in April 2023.  Average days on market were unchanged from March 2024.
• Median Days on Market: 7 days in April 2024 compared with 4 days in April 2023. Median days on market increased 2 days from March 2024.
• Average Sale Price: declined 2.4% year-over-year to $1,676,366 in April 2024. Compared with March 2024, average sale price was essentially flat.
• Median Sale Price: declined 7.8% year-over-year to $1,387,500.  Month-over-month, median home sale price was essentially flat.
• Median % Of List Price Received: declined 1.2% to 98.8% in April 2024 compared April 2023. Month-over-month, the list to sale price ratio improved 0.2%.

 

THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN APRIL 2024

The most expensive home sold in the Charlotte region in April 2024, sold for $5,325,000 in Mooresville/Lake Norman at The Point. Built in 2013 and situated on 0.96 waterfront acres, this 5,488 square foot, 2-story home featured 4 bedrooms/4.5 bathrooms, 400 feet of water frontage. Built by Kingwood Custom Homes, additional features included four fireplaces, chef’s kitchen, private dock with boat and jet-ski lifts, saltwater pool with waterfalls, outdoor kitchen, covered patio, 3-car garage.

 

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This Charlotte region luxury homes market April 2024 update is provided  by Nina Hollander  with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate expert serving Greater Charlotte 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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