Charlotte Real Estate: August 2023

2023-09-16T15:38:07-04:00September 16, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in July 2023 saw home sales decline 20.7% year-over-year to their lowest level in 10 years. Home prices increased 4%, on average. July saw the first increase in year-over-year median price since January 2023. Higher home prices, increasing interest rates, fewer new listings and less inventory are clearly impacting sales. Homes sold in 29 days. New listings declined 30.2% putting pressure on inventory, which decreased 30% year-over-year. The months supply of homes remained low at 1.4 months, decreasing for the first time in one year and keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: July 2023

2023-08-30T11:48:57-04:00August 24, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in July 2023 saw home sales decline 20.7% year-over-year to their lowest level in 10 years. Home prices increased 4%, on average. July saw the first increase in year-over-year median price since January 2023. Higher home prices, increasing interest rates, fewer new listings and less inventory are clearly impacting sales. Homes sold in 29 days. New listings declined 30.2% putting pressure on inventory, which decreased 30% year-over-year. The months supply of homes remained low at 1.4 months, decreasing for the first time in one year and keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: June 2023

2023-08-30T11:49:08-04:00July 19, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in June 2023 saw home sales decline 22.1% year-over-year, while home prices increased 2.5%, on average. Higher home prices, increasing interest rates, and fewer new listings and less inventory are clearly impacting sales. Homes sold in 29 days, on average, down 5 days from the previous month. New listings declined putting pressure on inventory, which decreased 17.2% year-over-year. The months supply of homes remained low at 1.4 months, keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: May 2023

2023-08-30T11:49:19-04:00June 21, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in May 2023 saw home sales decline 16.6% year-over-year, while home prices increased 4.6%, on average. Sales dropped for a 17th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 34 days, on average, down 5 days from the previous month. New listings declined putting pressure on inventory. The months supply of homes, while increasing, remained low at 1.3 months, keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: April 2023

2023-08-30T11:49:27-04:00May 30, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in April 2023 saw home sales decline 21.8% year-over-year, while home prices increased 2.6%, on average. Sales dropped for a 16th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 39 days, on average, down nine days from the previous month. New listings declined putting pressure on inventory. The months supply of homes, while increasing, remained low at 1.3 months, keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: March 2023

2023-08-30T11:49:28-04:00May 30, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in March 2023 saw home sales decline 18.5% year-over-year, while home prices increased 3.1%, on average. Sales dropped for a 15th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 48 days, on average. The months supply of homes, while increasing, remained low at 1.3 months, keeping Charlotte in "home seller territory." Home affordability continues to suffer.

Charlotte Real Estate: February 2023

2023-08-30T11:49:41-04:00March 26, 2023|Categories: Buying a Home, Housing Market Reports/Updates, NC Region, Owning A Home|Tags: , , , , , , , , , , , |

Charlotte real estate in February 2023 saw home sales drop 27.8% year-over-year, while home prices increased 3.7%, on average. Sales dropped for a 14th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 48 days, on average. The months supply of homes, while increasing, remained low at 1.2 months, keeping Charlotte in "home seller territory." Home affordability continues to suffer.

COVID-19 Impacts Charlotte Real Estate In April 2020

2020-05-08T10:30:38-04:00May 8, 2020|Categories: Buying a Home, Charlotte, Housing Market Reports/Updates, Selling a Home|Tags: , , , , , , , , , , , |

COVID-19 impacted Charlotte real estate sales significantly in April 2020. Year-over-year closed and pending sales, new listings, inventory, housing affordability, days on market, months supply of homes, were all down. Meantime, days on market dropped and home prices increased -- essentially due to lack of inventory combined with buyer demand. Home showings were down more than 50% due to COVID-19 restrictions.

Charlotte Real Estate Report: March 2020

2020-04-07T15:29:34-04:00April 7, 2020|Categories: Buying a Home, Charlotte, Housing Market Reports/Updates, Selling a Home|Tags: , , , , , , , , , , |

Charlotte region ended March 2020 a seller's market with inventory remaining extremely tight and the months supply of housing dropping 32% to just 1.7 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed sales increased. New listings increased marginally by 1.8%. A small decrease in pending sales might be a harbinger of things to come as shelter-in-place orders reduce market activity due to COVID-19.

Charlotte Real Estate Report: February 2020

2020-03-11T16:52:48-04:00March 11, 2020|Categories: Buying a Home, Charlotte, Housing Market Reports/Updates, Selling a Home, Uncategorized|Tags: , , , , , , , , , , |

Charlotte region ended February 2020 a seller's market with inventory remaining extremely tight and the months supply of housing dropping 40% to just 1.5 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed and pending sales increased. New listings increased marginally by 2.2%. Housing affordability index continued to decrease, as well.

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