Luxury Homes Market Charlotte Region: January 2024

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

The January 2024 luxury homes market in Charlotte saw a 33.1% increase in new listings year-over-year.  Inventory  increased  year-over-year by 14.5%.  The months supply of inventory remained relatively low despite increasing to 2.6 months from 2.5 months year-over-year. Median home sale price increased 11.8% to $1,341,755, while the average home sale price increased 16.2%. Closed sales increased a whopping 41% in January 2024 versus the same month one year ago. Pending sales improved 13.6% from one year ago. Median list to sale price ratio declined 4% to 94.1% providing a window of opportunity for home buyers to negotiate. Buyer foot traffic declined slightly to 7.4 showings per listing from 7.5 showings in the same month last year.  Median days on market were 27 in January, increasing from 20 days the same month one year ago. 

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

Month-over-month, the luxury homes market in Charlotte saw new listings increase from December 2023 with 185 new listings versus 95 in the prior month.  Median sale price declined slightly from the previous month. The average sale price also declined from December 2023.  Closed sales declined in January versus December, while pending sales increased month-over-month. The list to sale price ratio declined 3.4% from December.  Active listings increased  from December to 426 properties from 401. Median days and average days on market increased 10 days and 11 days, respectively, from December 2023. The months supply of inventory increased 0.1 months from December. Buyer foot traffic in January increased to 7.4 showings from 4.8 showings per active listing from December, indicating that luxury home buyers were out looking for homes to purchase. 

 

 

 

Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region January 2024

• Homes Sold: 86 in January 2024, up 41% compared with January 2023. The number of homes sold month-over-month decreased by 32 homes.
• Pending Sales: 150 in January 2024, up 13.6% compared with January 2023. Pending sales increased month-over-month by 39 homes.
• New Listings: 185 in January 2024, up 33.1% compared with January 2023. New listings more than doubled from 95 homes month-over-month.
• Inventory of Homes: up 14.5% to 425 in January 2024 compared with January 2023.  Inventory increased by 25 homes from December 2023. 
• Months Supply of Homes:  was 2.6 months, up from 2.5 months in January 2023. Months supply of homes increased 0.1 months over December 2023.
• Average Days on Market: 49 days in January 2024 compared with 46 days in January 2023.  Average days on market increased 11 days month-over-month. 
• Median Days on Market: 27 days in January 2024 compared with 17 days in January 2023. Compared with the prior month of December, median days on market increased 10 days.
• Average Sale Price: increased 16.2% year-over-year to $1,641,755 in January. Compared with December 2023 the average sale price declined approximately $158,000.
• Median Sale Price: increased 11.8% to $1,341,107.  Month-over-month, median home sale price declined just under $9,000.
• Median % Of List Price Received: declined 4% to 94.1% in January 2024 compared January 2023. Month-over-month, the list to sale price ratio also declined 3.4%.

 

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

The most expensive home sold in the Charlotte region in January 2024, sold for $5,450,250 in Cornelius.  This was an under-construction home by Plattner Custom Builders on .64 Lake Norman waterfront acres with 150 feet of shoreline. The hard-stucco home will included 6,225 square feet plus a 1,421 square foot garage with room for four cars with two electric vehicle chargers. It will feature five bedrooms and 5.2 bathrooms, two elevators, separate living quarters, in-ground pool.

 

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AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION

 

 

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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 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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