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Mint Hill, NC August 2023 Median Home Price Up 15.41% Year-Over-Year

By
Real Estate Agent with Coldwell Banker Realty 179530

Latest news on the Mint Hill, NC real estate market in August 2023...

What it means for you...

What you need to know...

 

Median Home Price Up 15.41% Y-O-Y And Up 17.46% M-O-M

 

The Mint Hill housing market more than held its own in August. Key take-aways about Mint Hill's housing market trends in August 2023:

  • Home sales prices increased in August both month-over-month and year-over-year. Median sale price increased substantially from one month and one year ago.

  • Closed sales were at their highest level in three years in June 2023 and declined in July, but increased 31+% year-over-year.

  • New listings increased 40.48% from July and 20.41% compared with August 2022. 

  • Days on market declined 52.94% from July and were at their lowest level since September 2022 at 17 days.

  • Housing inventory was at its second lowest level since April 2022.

  • List to sale price ratio of 100.9% left little room for buyers to negotiate on price.

  • With a months supply of inventory of 3.05 months, Mint Hill remained a home seller's market in August 2023.

 

 Mint Hill Housing Market Highlights: August 2023

Mint Hill, NC Home Sales Snapshot August 2023

 

 

HOME PRICES INCREASED YEAR-OVER-YEAR AND MONTH-OVER-MONTH

Average sale price in August 2023 was $517,314 up 5.55% from $490,099 in July 2023 and 7.7% higher than $480,329 in August one year ago. 

 

Median home sale price in August 2023 was $508.000, up 17.46% from $432,500 in the previous month of July.  It was 15.41% higher than $440,175 in August one year ago. The median sale price was at its highest level compared with August 2022 and August 2021.

 

Price per square foot in August 2023 was $211, down 4.52% from $221 in the previous month of July. Year-over-year, the average price per square foot was 5.5% higher than $200 in August 2022.

 

DAYS ON MARKET DECLINED AFTER SUBSTANTIALLY INCREASING IN JULY

Average days on market August 2023 were 24 days, declining 52.94% from 51 days in July 2023 and up eights days compared with August 2022. The August 2023 days on market were at their highest level compared with July 2022 (16 days) and August 2021 (17 days). August's days on market were at their lowest level since September 2022.

 

MINT HILL HOUSING INVENTORY UP SLIGHTLY FROM JULY

The number of properties for sale in August 2023 was 131, up 3.15% from 127 properties in the previous month of July. Inventory was 18.63% lower than the 161 properties for sale in August 2022. This was the second lowest level of inventory in Mint Hill April 2022. With a 3.05 months supply of inventory in August, Mint Hill remained a seller's market.

 

NEW LISTINGS INCREASED IN AUGUST

The number of new listings in August 2023 was 59, increasing from the 42 new listings in the previous month of July. Compared with August 2022, new listings were increased 20.41% from 49. Compared with August 2021, new listings were down from 75.

 

MINT HILL SALES UP YEAR-OVER-YEAR

Sales declined 36.11% after increasing an astonishing 46.94% in June 2023. July 2023 had 46 sales compared with 72 sales in the prior month. Sales increased 31.43% from 35 in July 2022. Sales declined from 52 in July 2021. 

 

LIST TO SALE PRICE RATIO JUST UNDER 101%

With a selling price at 100.9% of list price in August 2023, the list to sale price ratio increased 1.74% over July. Year-over-year, the list to sale price ratio was equal to that of August 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.

  I can help.

Call us today at 704-779-0813 or contact me here.

There’s absolutely NO OBLIGATION

A consultation with Nina Hollander is FREE. 

 

MORE INFORMATION ON THE MINT HILL HOUSING MARKET'S PERFORMANCE

 

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

Map of Mint Hill, North Carolina

 

 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). I've been opening doors for Mint Hill home buyers and sellers for 24+ years.

 

SEARCH MINT HILL HOMES FOR SALE

 

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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:

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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
Direct: 704-779-0813
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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.

 

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina  and thank you for the great information to share with us here in the Rain.  

Sep 28, 2023 12:58 PM
Roy Kelley
Retired - Gaithersburg, MD

Families considering a move to the area will love your excellent local real estate reports.

Sep 28, 2023 12:58 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

What exceptional numbers Nina Hollander, Broker .  At this point it is hard to imagine the bottom ever falling out.

Sep 28, 2023 01:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thanks, Will, for popping by. Wishing you a great rest of the day.

Sep 28, 2023 01:14 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thank you, Roy, for stopping by today and taking time to leave me a comment.

Sep 28, 2023 01:15 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob "RealMan" Timm hi Bob... so long as inventory is tight we will continue to see numbers like this.

Sep 28, 2023 01:15 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great market information. Thanks for sharing, enjoy your upcoming weekend, as we are at Friday-eve. Bill Salvatore Arizona Elite Properties.

Sep 28, 2023 01:17 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - East Valley thanks, Bill, for popping by and the good wishes... wishing you a terrific weekend, as well.

Sep 28, 2023 01:20 PM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good evening Nina. Inventory low, days on market low, list price to sales price +100%, demand still high. Great except for inventory. Enjoy your evening.

Sep 28, 2023 02:22 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... and that lack of inventory is what is driving all the other statistics from sale price to days on market to list to sale price ratio.

Sep 28, 2023 03:01 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander, Broker - I like the way you put the key points into short sentence form or bullet points.  This makes the Mint Hill NC market report easily digestible for your clients.  A+ !!

Sep 28, 2023 04:05 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Sep 28, 2023 05:52 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander, Broker  keep in mind Los Angeles is six months ahead of your market, we are seeing price drops thanks to the Interest rates being in the mid to hi 7%  so enjoy while it lasts, Endre

Sep 28, 2023 11:41 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® thanks, Sheri... I try to fashion my posts for someone who just wants a quick overview, someone who likes a picture, and someone who likes more detail. Something for everyone!

Sep 29, 2023 04:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good morning, Myrl. Thanks for the pop-by. Wishing you a fantastic Friday.

Sep 29, 2023 04:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. good morning, Endre...  our inventory shortage will continue to keep prices relatively strong. 130 people moving to Charlotte area each days is also propping up demand for housing. I'm hoping rates pull back somewhat in the next six months. If they do demand will go up but I'm not certain sellers will rush into the market... so we'll still see prices strong.

Sep 29, 2023 04:55 AM