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Mint Hill, NC Home Prices And Sales Up In February 2023. Inventory Low

By
Real Estate Agent with Coldwell Banker Realty 179530

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

Mint Hill, NC 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.

 

Want to know what this would mean for your family if you decide to buy or sell a Mint Hill home?

Curious about the Charlotte area real estate market? Call Nina Hollander.

   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. 

 

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

Map of Mint Hill, North Carolina

 

 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.

 

SEARCH ALL MINT HILL HOMES FOR SALE

 

SEARCH ALL CHARLOTTE  AREA HOMES FOR SALE

 

FIND OUT WHAT YOUR GREATER CHARLOTTE AREA HOME IS WORTH IN TODAY'S MARKET 

 

If you're considering purchasing or selling a home in the Charlotte metro area, 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."

 

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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
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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.

 

Bion Grady
Maximum One Greater Atlanta Realtors - Douglasville, GA
Douglas County Real Estate Specialist

Great information

Mar 14, 2023 09:26 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Nina. Your monthly reports are real identifiers of the problem with your market, although your market is strong. Lack of inventory. Enjoy your day.

Mar 14, 2023 09:50 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... it's an interesting dichotomy... we have more inventory and longer days on market, but we are still short on inventory.

Mar 14, 2023 10:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bion Grady thanks, Bion, for popping by today. Trust your week is off to a great start.

Mar 14, 2023 10:15 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The Mint Hill NC prices are showing strong appreciation even though the interest rates have risen. Average values for homes are well within reach of family's as well.

Mar 14, 2023 12:24 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva hi Ed... Mint Hill remains one of Charlotte area's more affordable towns. But it's certainly less affordable than a few years ago.

Mar 14, 2023 12:51 PM
Patricia Feager, ABR,CRS,GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander, Broker - I can't think of any better time in history to build home equity than now. With the ability for buyers to buy affordable homes they can most likely have a lot to look forward to, if they continue to subscribe to your websites to watch their equity grow. 

Mar 14, 2023 01:44 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Nina as long as inventory stays low I would expect home prices to continue to rise.  Buyers would be wise to purchase sooner than later before they are priced out of the market.

Mar 14, 2023 02:05 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Patricia Feager, MBA, CRS, GRI,MRP hi Patricia... at the end of the day, one thing is certain... when you rent you don't get a chance to build any equity regardless of market conditions.

Mar 14, 2023 02:21 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... sadly a lot of buyers are already priced out of the market... and as time goes on it won't get easier.

Mar 14, 2023 02:22 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Mint Hill home buyers and sellers are certain to value your real estate market report, Nina.

Mar 16, 2023 12:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good morning, Myrl.... thanks, as always, for popping by. Wishing you a terrific Thursday.

Mar 16, 2023 04:02 AM