Latest news on the Mint Hill, NC real estate market in January 2023...
What it means for you...
What you need to know...
Mint Hill home sales were down in January 2023, both year-over-year and month-over-month. At the same time, the inventory of homes for sale was at its lowest level in seven months and new listings were at their lowest level since January 2022. The Mint Hill housing market has softened but is still "holding its own."
Mint Hill Housing Market Highlights: January 2023
AVERAGE HOME SALE PRICES UP YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH IN JANUARY 2023
Average sale price in January 2023 was $444,940, down 12.8% from $509,175 in December 2022 and 2.6% higher than $432,926 in January one year ago. The January 2023 average sale price was at its highest level compared with January 2022 and January 2021.
Median home sale price in January 2023 was $414,995, down 13.5% from $480,000 in December 2022 and equal to January 2022.
Price per square foot in January 2023 was $194, down 11.01% from $218 in December 2022, but 2.11% higher than $190 in January 2022.
DAYS ON MARKET UP SIGNIFICANTLY YEAR-OVER-YEAR
Average days on market in January 2023 were 54 days, up from 50 days in December 2022 and up 32 days from January 2022. The January 2023 days on market were at their highest level compared with January 2022 (22 days) and January 2021 (28 days). That being said, average days on market in November 2022 were higher at 59 days.
MINT HILL HOUSING INVENTORY UP YEAR-OVER-YEAR | NEW LISTINGS REMAIN LOW
The number of properties for sale in January 2023 was 139, down 17.8% from 169 homes in December 2022, but 28.7% higher than the 108 properties for sale in January 2022. The January 2023 inventory was at its highest level compared with January 2022 and January 2021, but was still lower than the inventory we saw in June, July, August, September, October, November, and December 2022.
The number of new listings in January 2023 was 27, equal to the number of new listings in December 2022. Compared with January 2022, new listings were higher by one. January's new listings were the lowest Mint Hill saw in 2022 except for December 2022 (which were equal to January 2023).
MINT HILL SALES DOWN 24% YEAR-OVER-YEAR | DOWN 20% MONTH-OVER-MONTH
Sales decreased in January 2023 to 28 from 35 in December 2022. Sales also decreased from 37 in January 2022 and 32 in January 2021. This decrease in sales is an indicator of a slowing market in Matthews.
LIST TO SALE RATIO DROPPED BELOW 100% FOR A 4TH CONSECUTIVE MONTH
With a selling price at 98.27% of list price, January 2023 saw a 2.66% decrease in the list to sale price ratio compared with January 2022. There was no change in the list to sale price ratio month-over-month and increased over November 2022.
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MORE INFORMATION ON THE MINT HILL HOUSING MARKET'S PERFORMANCE
MEDIAN HOME SALE PRICE TRENDS FOR MINT HILL
The Town of Mint Hill has been ranked by Niche.com as the #22 best Charlotte area suburb to live in. Did you know that Mint Hill (not Charlotte) was Mecklenburg County’s first town, founded in 1750 by Scot-Irish pioneers? Learn more about the rich history of Mint Hill here.
MINT HILL MAP/BOUNDARIES
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