Latest news on the Mint Hill, NC real estate market in February 2023...
What it means for you...
What you need to know...
Mint Hill home sales prices increased in February 2023 both month-over-month and year-over-year, despite a significant increase in days on market. Closed sales increased over the previous month, but decreased year-over-year. Overall inventory of homes remains relatively low and lower than in the second half of 2022. New listings also remain low and lower than all of 2022, except for December 2022.
Mint Hill Housing Market Highlights: February 2023
HOME SALE PRICES UP YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average sale price in February 2023 was $504,154, up 3.9% from $484,867 in January 2023 and 6.12% higher than $475,071 in February one year ago. The February 2023 average sale price was at its highest level compared with February 2022 and February 2021.
Median home sale price in February 2023 was $507,000, up 18.2% from $429,000 in January 2023 and 12.73% higher than $449,750 in February 2022. The February 2023 was at its highest level compared with February 2022 and February 2021.
Price per square foot in February 2023 was $207, up 4.02% from $199 in January 2023 and 9.52% higher than $189 in February 2022.
DAYS ON MARKET UP SIGNIFICANTLY YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average days on market in February 2023 were 79 days, up from 56 days in January 2023 and up 45 days from February 2022. The February 2023 days on market were at their highest level compared with February 2022 (34 days) and February 2021 (32 days). February's days on market were the highest Mint Hill has seen in three years.
MINT HILL HOUSING INVENTORY UP YEAR-OVER-YEAR | NEW LISTINGS REMAIN LOW
The number of properties for sale in February 2023 was 140, equal to the previous month, but 41.4% higher than the 99 properties for sale in February 2022. The February 2023 inventory was at its highest level compared with February 2022 (99 properties for sale) and February 2021 (105 properties for sale), 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 February 2023 was 34, up 25.9% from the 27 new listings in the previous month of January. Compared with February 2022, new listings were down 19.05%. February 2023 new listings were at their lowest compared with February 2022 (42 new listings) and February 2021 (45 new listings).
MINT HILL SALES UP 30.8% YEAR-OVER-YEAR | UP 9.7% MONTH-OVER-MONTH
Sales increased in February 2023 to 34 from 31 in January 2023. Sales also increased from 26 in February 2022 and 27 in February 2021.
LIST TO SALE RATIO DROPPED BELOW 100% FOR A 5TH CONSECUTIVE MONTH
With a selling price at 98.34% of list price in February 2023, the list to sale price ratio was essentially equal to that of the previous month. Year-over-year, the list to sale price ratio declined 2.63% from 100.97% in February 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
Contact us at Carolinas Realty Partners with Coldwell Banker Realty if you'd like more information about the buying or selling a home in Mint Hill. (or in any Greater Charlotte neighborhood, for that matter). We've been opening doors for Mint Hill home buyers and sellers for 22+ years.
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