Latest news on the Mint Hill, NC real estate market in May 2023...
What it means for you...
What you need to know...
The Mint Hill housing market more than held its own in May. Key take-aways about Mint Hill's housing market trends in May 2023:
- Home sales prices increased in May 2023 month-over-month, but declined year-over-year.
- Closed sales were at their highest level since September 2022.
- New listings declined for a third consecutive month. New listings declined 19.3% year-over-year.
- Days on market were at their lowest level since October 2022.
- Housing inventory was at its lowest level since March 2022.
- List to sale price ratio just under 100% at 99.01%.
- With a months supply of inventory under 3%, Mint Hill remained a home seller's market in May 2023.
Mint Hill Housing Market Highlights: May 2023
AVERAGE HOME SALE PRICES DECLINE YEAR-OVER-YEAR, INCREASE MONTH-OVER-MONTH
Average sale price in May 2023 was $524,101 up 3.58% from $505,979 in April 2023 and 3.62% lower than $534,797 in May one year ago.
Median home sale price in May 2023 was $517,165, increasing 9.45% from $472,500 in the previous month of April. It was 5.97% lower than $550,000 in May one year ago.
Price per square foot in May 2023 was $211, equal to the previous month of April and 1.93% higher than $207 in May 2022.
DAYS ON MARKET AT LOWEST LEVEL SINCE OCTOBER 2022
Average days on market May 2023 were 45 days, down from 57 days in April 2023 and up 30 days compared with May 2022. The May 2023 days on market were at their highest level compared with May 2022 (15 days) and May 2021 (18 days). At the same time, the days on market declined for a fourth consecutive month in May and were at their lowest level since October 2022 when the DOM were 35 days.
MINT HILL HOUSING INVENTORY DECLINED YEAR-OVER-YEAR | AT ITS LOWEST LEVEL SINCE MARCH 2022
The number of properties for sale in May 2023 was 125, down 8.76% from 137 homes in the previous month. Inventory was 6.02% lower than the 133 properties for sale in May 2022. May's inventory was at the lowest level Mint Hill has seen since March 2022 when inventory stood at 112 properties.
NEW LISTINGS DECLINE A THIRD CONSECUTIVE MONTH
The number of new listings in May 2023 was 46, declining 30.3% from the 66 new listings in the previous month of April. Compared with May 2022, new listings were declined 19.3%. May 2023 new listings were at their lowest compared with May 2022 (57 new listings) and May 2021 (51 new listings).
MINT HILL SALES AT THEIR HIGHEST LEVEL SINCE SEPTEMBER 2022
Sales increased 6.98% in May 2023 to 46 properties from 43 properties in the previous month of April. Sales declined 6.12% from 49 in May 2022 and from 61 in May 2021.
LIST TO SALE RATIO JUST UNDER 100% IN APRIL
With a selling price at 99.04% of list price in May 2023, the list to sale price ratio decreased 0.92% from April 2023. Year-over-year, the list to sale price ratio declined 5.42% from 104.46% in May 2022.
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MEDIAN HOME SALE PRICE TRENDS FOR MINT HILL
(12 Month Rolling Average)
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 Nina Hollander 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 24+ years.
If you're considering purchasing or selling a home in the Greater Charlotte area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: