YEAR-OVER-YEAR TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET IN CHARLOTTE REGION
The September 2023 luxury homes market in Charlotte saw a 5.4% increase in new listings year-over-year. Inventory increased marginally year-over-year by 0.2%. The months supply of inventory declined to 3.1 months year-over-year from 3.2 months one year ago. Median home sale price was flat at $1,370,000, while the average home sale price declined slightly by 0.4%. Closed sales decreased 2.9% in September 2023 versus the same month one year ago. Median list to sale price ratio decreased 1.5% year-over-year to 98.5%. Buyer foot traffic was flat at 5.8 showings per listing year-over-year. Median days on market were nine in September, one day higher versus the same month one year ago. Closed sales declined slightly year-over-year, while pending sales increased year-over-year.
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 by one home in September 2023 with 236 new listings versus 235 in August 2023. Median sale prices increased from the previous month, while the average sale price declined. Closed sales declined in September versus August. Pending sales also declined month-over-month.. The list to sale price ratio declined by 0.1 months from August. Active listings decreased in September by three homes compared with August. Average days on market increased by four days in September compared with August. The months supply of inventory remained unchanged month-over-month at 3.1 months. Buyer foot traffic in September declined to 5.8 average showings per listing compared with 7.7 months in August.
Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region September 2023
Homes Sold: 169 in September 2023, down 2.9% compared with September 2022. The number of homes sold month-over-month decreased by 27 homes.
Pending Sales: 162 in September 2023, up 12.5% compared with September 2022. Pending sales declined month-over-month by 20 homes.
New Listings: 236 in September 2023, up 5.4% compared with September 2022. New listings increased by one home month-over-month.
Inventory of Homes: up 0.2% to 496 in September 2023 compared with September 2022. Inventory decreased by three homes from August 2023.
Months Supply of Homes: down 3.1% (by 0.1 months supply) compared with September 2022. Months supply of homes remained unchanged compared with August 2023.
Average Days on Market: 35 days in September 2023 compared with 29 days in September 2022. Average days on market increased four days month-over-month.
Median Days on Market: 9 days in September 2023 compared with 8 days in September 2022.
Average Sale Price: down 0.4% year-over-year to $1,558,222 in September. Month-over-month average sale price decreased by just under $73,000.
Median Sale Price: remained unchanged year-over-year at $1,347,000. Month-over-month, median home sale price increased $23,000.
Median % Of List Price Received: decreased 1.5% to 98.5% in September 2023 compared with 100% in September 2023. Month-over-month, the list to sale price ratio was unchanged.
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN SEPTEMBER 2023
The most expensive home sold in the Charlotte region in September 2023, sold for $5,200,000 at The Point in Mooresville. Built in 2005, the G. M. Helms custom-built, lake front home is situated on approximately 1.14 acres and features 4 bedrooms, 4.2 bathrooms, 8,318+ square feet of heated living area. The one-story home with walk-out basement had 2,200 feet of shoreline on Lake Norman. Recently renovated, the home featured two primary suites, billiard room wine bar, golf simulation room, gym, two guest suites, interior elevator. The outdoor space featured a salt-water pool and spa, fireplace, new stationery dock with two jet ski lifts and 10,000 pound boat hoist with automatic boat cover. Garage had room for four cars.
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 24+ 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: