Latest news on the Charlotte region real estate market in February 2025 and what it means for you...
February 2025 closed home sales declined 8.7% year-over-year in the 16-County Charlotte region after four consecutive months of improved closed sales.
Closed sales improved almost 9% month-over-month, however, showing positive momentum. Properties priced about $500,000 saw strong year-over-year growth in closed sales, up 12.8%. Properties priced about $700,000 had a 19.9% increase in sales, signaling strength in Charlotte region's luxury segment. Buyer demand is high for well-connected, amenity-rich suburban communities in the Great Charlotte region.
Pending sales improved 2.6% year-over-year. Month-over-month, pending sales rose 10.5%, signaling strong buyer interest.
Days on market increased 22.2% to 55 days in February compared with the same month one year ago when they stood at 45 days. Month-over-month, the days on market declined by two days from January.
The Charlotte region's home prices remained stable in February 2025. Average sale price increased 2.5% in February 2025 to $476,652 compared with the same month one year ago, while the median sale price was unchanged both year-over-year and month-over-month at $385,000.
The February 2025 list to sale price ratio declined 0.9% year-over-year to 95.9%. Month-over-month, the list to sale price ratio increased 0.2%. Home buyers are seeing opportunities to negotiate on price.
February 2025 new listings increased 4% year-over-year. February new listings were higher by 170 properties compared with February 2024. February 2025 marks the 16th consecutive month of increases in new listings.
Despite the increase in new listings, the average list price increased 7.8% in February compared with the same month one year ago. Overall inventory increased 36% from the same month last year.
Despite the increase in new listings and inventory, February's months supply of homes for sale at 2.4 months, kept Charlotte region in "home seller territory." Although the Charlotte Region had almost 36% more homes for sale in February 2025 compared with one year ago, the Charlotte housing market is no where near balanced as yet and buyer demand continues to outpace supply.
CHARLOTTE REGION FEBRUARY 2025 REAL ESTATE SNAPSHOT
Based on information from Canopy MLS for the period February 1, 2025-February 28, 2025 in the 16 County Charlotte Region.
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PREVIOUS CHARLOTTE HOUSING MARKET UPDATES
Charlotte Real Estate: January 2025
Charlotte Real Estate: December 2024
Charlotte Real Estate Report: November 2024
Charlotte Real Estate Report: October 2024
Charlotte Real Estate Report: September 2024
Charlotte Real Estate Report: August 2024
Charlotte Real Estate Report: July 2024
Charlotte Real Estate Report: June 2024
Charlotte Real Estate Report: May 2024
Charlotte Real Estate Report: April 2024
Charlotte Real Estate Report: March 2024
Charlotte Real Estate Report: February 2024
Read the original post on Charlotte Region's housing market in February at www.GreatHomesInCharlotte.com
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