Latest news on Charlotte Region's luxury housing market...
What happened in July 2022...
What it means for you...
Despite 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 July 2022.
Days on market, both average and median, were down year-over-year. Although the luxury market saw a solid increase in new listings year-over-year as well as in total inventory, closed and pending sales increased in July. Home sale prices also increased. New listings dropped significantly month-over-month. Average sales prices increased year-over-year, but decreased month-over-month. Median home sale prices increased 1.2% year-over-year and decreased by just over $1,400 month-over-month.
The list to sale ratio increased year-over-year slightly, but decreased month-over-month. Buyer foot traffic remained steady year-over-year, decreasing slightly from 9.3 showings per home to 8.2 showings.
With the considerably lower days on market in July 2022 versus July 2021 and compared with June and May 2022, it would appear that luxury home buyers were anxious to purchase their homes and lock in their interest rates before rates rose further.
CHARLOTTE REGION SINGLE FAMILY LUXURY HOUSING MARKET UPDATE: JULY 2022
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN JULY 2022
The most expensive home sold in the Charlotte region in July 2022, sold for $6,450,00 in Huntington Park in south Charlotte. Built on 2.0 acres in 2005, this was a 9,822 square foot, custom built home. The home featured six bedrooms, eight full bathrooms, two half bathrooms, 1,518 square foot second living quarters with a kitchenette and laundry, and an outdoor kitchen and fireplace, as well as an in-ground pool, and 3-car garage with a home gym above it.
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AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
This Charlotte region luxury housing market update for July 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