Latest news on Charlotte Region's luxury housing market...
What happened in April 2022...
What it means for you...
Charlotte Region's single family luxury homes real estate market remained strong with continuing low levels of inventory that have not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as were the months supply of inventory.
Luxury home sellers continued to see a higher sale price as a percent of listing price. Median home sale prices increased 4.6%, while average sales prices increased 3.6% year-over-year.
Throughout much of 2021 there was concern that luxury home buyers might "give in" to buyer fatigue and take a "wait and see" position due to frustrations caused by multiple offers, declines in inventory, and the lack of inventory. This did not occur in 2021 and thus far this does not appear to be the case in 2022. The luxury market remained a seller's market.
CHARLOTTE REGION SINGLE FAMILY LUXURY HOUSING MARKET UPDATE: APRIL 2022
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region April 2022:
- Homes Sold: 183 in April 2022, up 22.8% compared with April 2021. The number of homes sold was up month-over-month.
- Pending Sales: 232 in April 2022, up 18.4% compared with April 2021. Pending sales were up month-over-month.
- New Listings: 293 in April 2022 up 14.5% compared with April 2021. New listings were up month-over-month.
- Inventory of Homes: down 7.8% to 307 in April 2022 compared with April 2021. Inventory of homes was up month-over-month.
- Months Supply of Homes: down 16% with 2.1 months supply compared with 2.5 months supply in April 2021 and 8.2 months supply in April 2020. Months supply of homes was up 0.2 months over March 2022.
- Average Days on Market: 17 days in April 2022 compared with 50 days in April 2021 and 57 days in April 2020. Average days on market were down 14 days month-over-month.
- Median Days on Market: 3 days in April 2022 compared with 9 days in April 2021 and 10 days in April 2020.
- Average Sale Price: up 3.6% at $1,569,845 in April 2022 compared with $1,515,891 in April 2021.
- Median Sale Price: up 4.6% at $1,357,500 in April 2022 compared with $1,297,444 in April 2021.
- Median % Of List Price Received: up 4.5% to 104.5% in April 2022 compared with 100% in April 2021. Median % of list price received was up 4.5% month-over-month.
THE MOST EXPENSIVE HOME SALE IN CHARLOTTE REGION IN APRIL 2022
The most expensive home sold in the Charlotte Region in April 2022 sold for $5,650,000 in Myers Park. This was a new construction home designed by Smith Slovik Residential Design Group and built by Mills Eloge Homes. Situated on .62 acres, the contemporary-style home featured six bedrooms, seven full baths, two half baths, 3-car garage, pool, outdoor fireplace, and outdoor shower.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?
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AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
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This Charlotte region luxury housing market update for April 2022 is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Greater Charlotte 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:
Read the original blog post at: www.GreatHomesInCharlotte.com