Mint Hill real estate in October 2023 saw both average and median home sale prices increase from the prior month and from the same month in 2022. The number of properties sold declined from September 2023 but increased over October 2022. New listings and inventory of homes for sale increased in October 2023 from one month ago. However, inventory declined in October from one year ago and the months supply of inventory increased to 3.65 months. This is close to becoming a balanced market between home buyers and sellers. List to sale price ratio was over 102%, providing home buyers few opportunities to negotiate on sale price.
Mint Hill Housing Market Highlights: October 2023
HOME PRICES IN MINT HILL INCREASED YEAR-OVER-YEAR AND MONTH-OVER-MONTH
Average sale price in October 2023 was $517,802 increasing 13.1% from $457,839 in September 2023 and 10.43% higher than $468,913 in October one year ago. The average sale price was at its highest level compared with October 2022 and October 2021111111.
Median home sale price in October 2023 was $479,900, up 10.96% from $432,495 in the previous month of September. It was 16.76% higher than $411,000 in October one year ago. The median sale price was at its highest level compared with October 2022 and October 2021.
Price per square foot in October 2023 was $229, down 4.09% from $220 in the previous month of September. Year-over-year, the average price per square foot was 7.51% higher than $213 in October 2022. The per square foot was at its highest level in three years.
DAYS ON MARKET DECLINED IN MINT HILL
Average days on market in October 2023 were 45 days, declining 16.67% from 54 days in September 2023 and up 10 days compared with October 2022. The October 2023 days on market were at their highest level compared with October 2022 (35 days) and October 2021 (13 days). October’s days on market were at their third lowest level in one year.
MINT HILL HOUSING INVENTORY UP
The number of properties for sale in October 2023 was 135, up 10.66% from 122 properties in the previous month of September. Inventory was 21.97% lower than the 173 properties for sale in September 2022. With a 3.65 months supply of inventory in October, Mint Hill is gradually moving towards being a balanced market between buyers and sellers.
NEW LISTINGS INCREASED IN MINT HILL
The number of new listingsin October 2023 was 54, increasing from the 32 new listings in the previous month of September. Compared with October 2022, new listings increased from 39. Compared with October 2021, new listings were down from 62.
MINT HILL SALES DOWN UP YEAR-OVER-YEAR, DOWN MONTH-OVER-MONTH
Sales declined 31.48% to 37 from 54 closed sales in the previous month of September. Sales increased 8.82% from 34 in October 2022. Sales declined from 52 in October 2021.
LIST TO SALE PRICE RATIO UP OVER 102%
With a selling price at 102.24% of list price in October 2023, the list to sale price ratio increased from 98.99% in September 2023. Year-over-year, the list to sale price ratio increased from 98.84% in October 2022.
Want to know what this would mean for your family if you decide to buy or sell a Mint Hill home?
The Town of Mint Hill has been ranked by Niche.com as the #22 best Charlotte area suburb to live in. Did you know that Mint Hill (not Charlotte) was Mecklenburg County’s first town, founded in 1750 by Scot-Irish pioneers? Learn more about the rich history of Mint Hill.
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