Latest news on Charlotte real estate March 2025 and what it means for you...
In March 2025, closed home sales in the 16-county Charlotte region declined 2.9% year-over-year. However, sales jumped 30% from February, signaling growing momentum as the spring market heats up.
Luxury homes continued to fuel market activity. Sales of homes priced above $700,000 rose 19.4%, while those in the $600,000–$700,000 range increased 12.2%. Homes priced between $500,000–$600,000 saw a 7.9% gain. Demand remains strong in well-connected, amenity-rich suburban communities across Greater Charlotte.
In contrast, sales of more affordable homes declined. Transactions in the $200,000–$300,000 range dropped 3.6% year-over-year.
Pending sales showed strong growth, rising 15.1% annually and 24% month-over-month, highlighting sustained buyer interest.
The average days on market rose 31% to 55 days compared to 42 days in March 2024, though they remained flat month-over-month.
Home prices stayed steady. The average sale price climbed 6.8% year-over-year to $511,564, while the median sale price rose 2.6% to $395,000. Compared with one month ago, average home prices increased by just under $35,000, while the media sale price increased by $10,000.
The list-to-sale price ratio dipped slightly to 96.1% year-over-year but improved 0.2% from the previous month, suggesting buyers are gaining room to negotiate.
New listings increased 15.5% compared to last March, marking the 17th straight month of gains. Despite the uptick, the average list price rose 6.7% year-over-year.
Overall inventory surged 39.4% year-over-year, with notable increases in the mid-to-upper price ranges. Inventory for homes priced $700,000+ rose 67.8%, $600,000–$700,000 jumped 104.4%, and $500,000–$600,000 increased 92.5%.
Despite rising inventory and listings, the Charlotte region remained in seller’s market territory with just 2.6 months supply of inventory. While inventory has grown, buyer demand continues to outpace supply, keeping the market tilted in favor of sellers.
CHARLOTTE REGION MARCH 2025 REAL ESTATE SNAPSHOT
Based on information from Canopy MLS for the period March 1, 2025-March 31, 2025 in the 16 County Charlotte Region.
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PREVIOUS 2025 CHARLOTTE HOUSING MARKET UPDATES
Charlotte Real Estate: February 2025
Charlotte Real Estate: January 2025
Read the original update on the Charlotte Region Real Estate Market at www.GreatHomesInCharlotte.com
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