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.