Special offer

Charlotte Region Luxury Homes Market: What Happened In October 2022

By
Real Estate Agent with Coldwell Banker Realty 179530

Latest news on Charlotte Region's luxury homes market...

What happened in October 2022...

What it means for you...  

In spite of predictions of a significant market correction in 2022, Charlotte Region's single family luxury homes real estate market remained relatively strong year-over-year and continued to "hold its own" through October 2022.

 

Charlotte Region Luxury Homes Sales For October 2022

 

Luxury Housing Market October 2022 Snapshot For Single Family Homes In Charlotte Region

  • Homes Sold: 162 in October 2022, up 29.6% compared with October 2021. The number of homes sold decreased month-over-month by 20 homes.

  • Pending Sales: 141 in October 2022, down 7.8% compared with October 2021. Pending sales were down month-over-month by eight homes.

  • New Listings: 226 in October 2022 up 21.9% compared with October 2021. New listings increased by 31 homes month-over-month.

  • Inventory of Homes: up 39.7% to 486 in October 2022 compared with October 2021. Inventory of homes remained lower in October 2022 than its peak of 548 homes in July 2022. Inventory dropped by seven homes from September to October 2022.

  • Months Supply of Homes:  up 24% to 3.1 months supply compared with 2.5 months supply in October 2021. Months supply of homes increased slightly by 0.1 months in October 2022 versus September 2022.

  • Average Days on Market: 33 days in October 2022 compared with 38 days in October 2021.  Average days on market decreased by four days month-over-month.

  • Median Days on Market: 12 days in October 2022 up four days over October 2021. Median days on market were one day higher month-over-month.

  • Average Sale Price: up 8.2% at $1,698,447 in October 2022 compared with $1,570,078 in October 2021. Average sale price also increased over July, August and September 2022.

  • Median Sale Price: up 7.4% year-over-year at $1,378,447. Month-over-month, median home sale prices increased by just under $12,000. 

  • Median % Of List Price Received: 98.6% in October 2022 compared with October 2021. Month-over-month, the list to sale price ratio was 1.4% lower. 

  • Buyer foot traffic decreased from 10.4 showings per home to 7.2 showings year-over-year. Month-over-month, showings were essentially flat, decreasing from 7.3 showings.

 

THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN OCTOBER 2022

The most expensive home sold in the Charlotte region in October2022, sold for $6,200,000 in Northwood on Lake Norman. Designed by Frank Smith and built by Kearey Brothers, the waterfront, stucco and stone home is situated on 6.52 acres and features 8,834 square feet with five bedrooms, six full bathrooms, three half bathrooms. The custom, basement home built in 2016 also features: a boat lift, stationery dock, saltwater infinity pool, fully automated gated entrance, a wine room, a cigar loggia, terrace, garage with workshop, and more.

 

Want to know what this would mean for your family if you decide to buy or sell a Charlotte Region luxury home?

Curious about the real estate market in Greater Charlotte?

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION

A consultation with Carolinas Realty Partners is FREE.     

 

AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION

 

  

 

LOOKING FOR YOUR LUXURY DREAM HOME IN THE CHARLOTTE AREA? 

 

Looking For A Luxury Home In Charlotte?

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

COLDWELL BANKER GLOBAL 2022 LUXURY INSIGHTS: THE REPORT

  Luxury Housing Market Report For 2021    

 

COLDWELL BANKER LUXURY OUTLOOK REPORT: 2022

Coldwell Banker Luxury Trends Report 2022

 

WONDERING WHAT YOUR CHARLOTTE AREA LUXURY HOME IS WORTH IN TODAY'S MARKET? 

 

What's My Charlotte Luxury Home Worth?  

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

SEARCH ALL CHARLOTTE AREA HOMES FOR SALE 

 

 

This Charlotte region luxury housing market update is provided  by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate experts serving Charlotte area luxury home buyers and sellers for 20+ 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:

 "The Right Broker Makes All The Difference."

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

 Connect with me also on these sites:  

 

facebook twitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (36)

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

It truly amazes me how many people have the money to buy so many high end luxury homes. America truly is the land of opportunity. 

Nov 09, 2022 06:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeffrey DiMuria 321.223.6253 Waves Realty I agree, Jeff. I'm always even more amazed buy the number of people who buy properties in areas like Beverly Hills where the median price is at least six times of what our luxury median price is.

Nov 09, 2022 07:35 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your outstanding local real estate reports.

Nov 09, 2022 07:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thank you, Roy, for stopping by this morning. It's that time of the month again to do real estate reports.

Nov 09, 2022 07:38 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Great info and I will take both a saltwater infinity pool and a wine room 😆

Nov 09, 2022 07:50 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

That does look healthy indeed. Plenty of wealthy buyers out there.

Nov 09, 2022 08:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe not too shabby, Lise, is it? This is an amazing house and property.

Nov 09, 2022 08:56 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nick Vandekar, 610-203-4543 hi Nick... with Charlotte, overall, not being a luxury market, it always amazes me how many people still manage to buy these multi-million homes.

Nov 09, 2022 09:18 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - your strong hyper local market continues.  More opportunities for buyers to select but not low ball offers!

Nov 09, 2022 10:08 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, your luxury homes are "holding their own" at the moment, and would love to see that home on Lake Norman, sounds beautiful.

Nov 09, 2022 12:00 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... people have a bit of wiggle room to negotiate... but not much!

Nov 09, 2022 12:25 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... that home on Lake Norman was A-M-A-Z-I-N-G! I suspect our market will stay fairly stable this year. The real question is next year. Then again, I could be wrong.

Nov 09, 2022 12:27 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- I love how detailed your market reports are, especially Buyer Foot Traffic. It adds a dimension to your stats that adds to the picture. 

Nov 09, 2022 12:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy...it's easy to assume that when we do a market report that the average reader who doesn't work in real estate understand all the data. They really don't. It needs to be explained more thoroughly.

Nov 09, 2022 12:47 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina enjoy that your luxury market is strong, here in Beverly Hills it is flat.... and you know what I have been saying six months from now you will have what we have, Endre

Nov 09, 2022 11:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. hi Endre... fortunately, our luxury housing market is a very, very small percentage of our total real estate sales.

Nov 10, 2022 04:06 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Charlotte definitely has a very nice luxury home market and I know that you always stay on top of what is going on in the area!

Nov 10, 2022 04:25 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... for now, the luxury home market is holding its own... let's see how long that lasts.

Nov 10, 2022 04:33 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Charlotte home buyers and sellers are sure to value your real estate market report, Nina.

Nov 10, 2022 09:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat hi Myrl... thanks for the pop0by today. Trust you've have a good week and are looking forward to a good weekend.

Nov 10, 2022 11:02 AM