Latest news on the Huntersville, NC real estate market in May 2023...
What it means for you...
What you need to know...
Huntersville housing market remained steady in May 2023. Key take-aways include:
- Days on market were a relatively low 33 days, 7 days less than the year-to-date average for DOM in Huntersville.
- Low inventory kept Huntersville's months supply of inventory in "seller territory" at 2.71 months.
- New listings declined almost 50% from May 2022.
- Lack of inventory and new listings were a factor in lower closed sales year-over-year.
- List to sale price ratio of 99.4% left little room for buyers to negotiate on price.
- Average and median sale prices were higher in May 2023 compared with the year-to-date prices.
Huntersville Housing Market Highlights: May 2023
HOME SALE PRICES HIGHER YEAR-OVER-YEAR
Average sale price in May 2023 was $597,897, down 2.6% from $613,879 in the previous month of April. Year-over-year, the average home sale price was 4.59% higher than in May 2022 when it was $571,649. The May 2023 average sale price was at its highest since May 2021.
Median home sale price in May 2023 was $572,500 down 2.14% from $585,000 in April 2023. The median home sale price increased 5.82% from $541,000 in May 2022. The May 2023 median sale price was at its highest compared with May 2022 and May 2021.
Price per square foot in May 2023 was $217, up 2.84% from $211 in April 2023 and 1.88% higher than the $213 price per square foot one year ago.
DAYS ON MARKET JUST 33 DAYS IN MAY DESPITE INCREASING
Average days on market in May 2023 were 33 days, up from the 24 days we saw in the previous month of April. Year-over-year, average days on market increased 27 days from 6 days in May 2022. The May 2023 days on market were at their highest level compared with May 2022 (6 days) and May 2021 (17 days).
HUNTERSVILLE HOUSING INVENTORY DOWN YEAR-OVER-YEAR
The number of properties for sale in May 2023 was 314, up 2.28% from 307 homes in April 2023. Inventory was 10.29% lower than the 350 properties for sale in May 2022. Lower inventory kept Huntersville a seller's market in May with less than three months of inventory (2.71 months).
NEW LISTINGS DOWN ALMOST 50% YEAR-OVER-YEAR
The number of new listings in May 2023 was 114, compared with 115 new listings in April 2023. Compared with May 2022, new listings were down 49.78%. May's new listings were at their lowest level compared with May 2022 (227 new listings) and May 2021 (201new listings).
HUNTERSVILLE SALES DOWN YEAR-OVER-YEAR | UP MONTH-OVER-MONTH
Sales increased in May 2023 to 116 from 92 in April 2023. Sales decreased from 133 in May 2022 and 183 in May 2021. Lack of new listings and inventory, no doubt, contributed to the decrease in sales on a year-over-year basis.
LIST TO SALE RATIO INCREASED TO JUST UNDER 100%
With a selling price at 99.4% of list price, essentially equal to the ratio in April 2023. May 2023 saw a 4.79% decrease in the list to sale price ratio compared with May 2022 (104.19%). Buyers clearly are not seeing much room for negotiating on price in Huntersville.
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MEDIAN HOME SALE PRICE TRENDS FOR HUNTERSVILLE
(12 Month Rolling Average)
Did you know...
Huntersville has been rated the 10th best suburb in the Charlotte metro area?
Huntersville has been rated the 17th best suburb to live in out of 184 suburbs North Carolina suburbs?
Huntersville has been rated the 23rd best suburb to raise a family in out of 184 North Carolina suburbs?
Huntersville has been rated the 14th best suburb for young professionals out of 184 North Carolina suburbs?
Contact Nina Hollander with Coldwell Banker Realty if you'd like more information about the buying or selling a home in Huntersville (or in any Greater Charlotte neighborhood, for that matter). We've been opening doors for Huntersville home buyers and sellers since 1999.
Huntersville is known for Birkdale Village, an award-winning, mixed-use, open-air shopping center and office and residential community in Huntersville featuring numerous restaurants and cafes, boutiques, movie theatre, office space, and more. It's the center for popular Huntersville holiday events, including an annual Christmas Tree lighting and the Fourth of July parade.
In addition to Birkdale Village, you'll find more shopping just minutes away at the Rosedale and Northcross Shopping Centers.
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
If you're considering selling or purchasing a home in Huntersville, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: