YEAR-OVER-YEAR TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET IN CHARLOTTE REGION
The October 2023 luxury homes market in Charlotte saw a 21.2% increase in new listings year-over-year. Inventory increased slightly year-over-year by 4.4%. The months supply of inventory remained unchanged from one year ago at 3.3 months. Median home sale price was unchanged at $1,400,000, while the average home sale price increased 2.7%. Closed sales declined 11.7% in October 2023 versus the same month one year ago. Pending sales decreased 5.4% from one year ago. Median list to sale price ratio decreased 0.4% year-over-year to 98.1%. Buyer foot traffic declined to 5.9 showings per listing year-over-year. Average number of showings per listing until contract declined to 14 from 17. Median days on market were 11 in October, unchanged from 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 decline by two homes in October 2023 with 234 new listings versus 236 in September 2023. Median sale prices increased from the previous month, as did the average sale price. Closed sales declined in October versus September. Pending sales also declined month-over-month.. The list to sale price ratio declined by 0.4 months from September. Active listings increased in October. Average days on market increased by five days in October compared with September. The months supply of inventory increased 0.3 months over September. Buyer foot traffic in October was relatively flat with 5.9 showings compared with 5.8 showings in September.
Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region October 2023
Homes Sold: 136 in October 2023, down 11.7% compared with October 2022. The number of homes sold month-over-month decreased by 33 homes.
Pending Sales: 123 in October 2023, down 5.4% compared with October 2022. Pending sales declined month-over-month by 39 homes.
New Listings: 234 in October 2023, up 21.2% compared with October 2022. New listings decreased by two homes month-over-month.
Inventory of Homes: up 4.4% to 519 in October 2023 compared with October 2022. Inventory increased by 23 homes from September 2023.
Months Supply of Homes: was 3.3 months, unchanged from October 2022. Months supply of homes increased 0.3 months over September 2023.
Average Days on Market: 40 days in October 2023 compared with 32 days in October 2022. Average days on market increased five days month-over-month.
Median Days on Market: 11 days in October 2023, unchanged compared with October one year ago.
Average Sale Price: up 2.7% year-over-year to $1,748,846 in October. Month-over-month average sale price increased just under $191,000.
Median Sale Price: remained unchanged at $1,400,000. Month-over-month, median home sale price increased $30,000.
Median % Of List Price Received: decreased 0.4% to 98.1% in October 2023 compared with 98.5% in October 2023. Month-over-month, the list to sale price ratio also declined 0.4%.
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN OCTOBER 2023
The most expensive home sold in the Charlotte region in October 2023, sold for $22,000,000 in Huntersville. Built in 2000, the home was located on the private, 4.5 acre Merancas Island in Lake Norman. This unique estate featured a 12,000+ square foot home with three bedroom and 5.1 bathrooms + a 1,700+ square foot guest house with two bedrooms and 1.5 bathrooms. The property included an indoor salt water pool, pottery studio, 2-bay dog kennel, dog run, tennis court, sandy beach, covered boat dock, gazebo dock, lush tropical landscaping, parking for six cars, garage shop.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?
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 for 25 years.
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: