🌟 January 2025 Charlotte Housing Market Breakdown 🌟
The Charlotte real estate market is buzzing with activity as we kick off the new year. Let’s dive into the numbers and what they mean for buyers and sellers alike:
New Listings: 4,024 (+13.6% YoY)
Buyers, rejoice! There are more homes hitting the market compared to last year, which means you’ll have a wider variety of options to choose from. This increase in inventory could give you more leverage when negotiating.
Median Sales Price: $382,042 (+5.8% YoY)
Home prices are continuing their steady climb, reflecting strong demand and a robust local market. For sellers, this means your home is likely to hold or increase in value. Buyers, acting quickly is key before prices climb further!
Average Sales Price: $484,117 (+5.7% YoY)
The average sales price remains on the rise, signaling the ongoing strength of the Charlotte real estate market. Higher-end properties are holding their value, and this is great news for sellers looking to capitalize on their investments.
Pending Sales: 3,299 (-2.2% YoY)
Pending sales are slightly down, indicating that while demand remains strong, buyers are taking a bit more time to make decisions. It’s a reminder for sellers to price their homes competitively to attract serious buyers.
Closed Sales: 2,319 (-3.3% YoY)
The number of homes that closed this month dipped slightly compared to last year, but that doesn’t mean the market is slowing. It reflects a seasonal adjustment and some buyers waiting for the right opportunities.
Average Price/Sq. Ft.: $223 (+3.7% YoY)
The cost per square foot is climbing, indicating that every square inch of your home is becoming more valuable. Sellers, this is another reason to celebrate!
Median Days on Market: 35
Homes are selling in just over a month, which is still a brisk pace compared to historical averages. Sellers, be prepared for quick negotiations. Buyers, know that the home you love might not stay available for long!
Months of Supply: 2.4 (+33.3% YoY)
The inventory of available homes is growing, which is great news for buyers as it brings more options to the table. However, with just 2.4 months of supply, Charlotte remains firmly in a seller’s market, as a balanced market typically has 5–6 months of supply.
Original List Price Received: 95.4% (-1.9% YoY)
Homes are selling slightly below their original asking price, signaling that buyers have a bit more room to negotiate. Sellers, this means setting a competitive price from the start will help you stand out and close deals faster.
What Does This Mean for You?
- Sellers: The market is still in your favor, but with rising inventory and slightly longer sales times, pricing your home appropriately is more important than ever.
- Buyers: The increase in inventory is creating more opportunities, but competition remains strong. Be prepared to move quickly and make your best offer!
🏠 Let’s Talk Real Estate!
Whether you’re buying or selling, I’m here to help you navigate this exciting market with ease. Reach out today for expert advice and white glove service. Call or text me at (704) 491-3310 today!
© Debe Maxwell, CRS | The Maxwell House Group | Savvy + Company | SavvyBroker@me.com | anuary 2025 Charlotte Housing Market Breakdown
Comments(5)