CHARLOTTE LUXURY HOMES MARKET: MAY 2025 UPDATE
YEAR-OVER-YEAR TRENDS IN CHARLOTTE REGION'S LUXURY SINGLE FAMILY HOME MARKET
New Listings and Inventory
In May 2025, the luxury home market saw a 30.7% increase in new listings compared with May one year ago. Inventory levels also experienced a rise, increasing by 37.8% from the same month one year ago. These changes indicate a replenishment of market offerings, providing more options for potential buyers.
Supply and Demand Dynamics
The months supply of homes for sale increased 9.5%, settling at 4.6 months compared with 4.2 months in May 2024. The Charlotte luxury homes market is no longer a home seller's market, but a balanced market between home buyers and sellers.
Price Trends
The market saw a decline in home sale prices in May 2025. The median home sale price decreased 4.6% year-over-year, to $1,397,750. The average home sale price also saw a decrease of 3.5% to $1,664,784. Additionally, the price per square foot declined 1.5% to $390. The declines in sale prices are more likely due to the price mix of homes sold in May 2025 versus May 2024 as opposed to a decline in luxury home values across the region
Sales Activity
Closed sales experienced an increase of 5.3% in May 2025 compared with the same month the previous year. Pending sales also showed improvement, rising by 31.3% year-over-year. This increase in pending sales indicates there is a healthy pipeline of future closed sales. Both closed and pending sales are at their highest levels since January 2022.
List to Sale Price Ratio
The median list to sale price ratio experienced a small decrease of 1.3% to 98.7%. This ratio measures the final sale price as a percentage of the initial list price and provides insight into the negotiation dynamics between buyers and sellers.
Buyer Foot Traffic and Showings
Buyer foot traffic, measured by the number of showings per listing, declined from 5.9 showings in May 2024 to 5.0 showings in May 2025. The lower foot traffic clearly did not impact sales in May 2025. On average, luxury homes underwent approximately 10 showings before going under contract, declining by three from the previous year, which is not surprise given the decline in average days on market in May 2025.
Days on Market
The median days on market for luxury single-family homes increased by two days to five days in May 2025. The average days on market saw a decline of six days (down 18.2%), dropping to 27 days compared with May 2024. The average days on market in May 2025 were at their lowest level since November 2023.
Conclusion
The Charlotte region's luxury single-family home market in May 2025 presents a complex picture of supply, demand, and price dynamics. While inventory and new listings have increased, the market remains robust. Prices declined slightly, while closed and pending sales increased and days on market declined. Overall, the Charlotte region luxury housing market continues to exhibit resilience with a promising outlook for pending sales in the coming months.
MONTH-OVER-MONTH TRENDS IN CHARLOTTE REGION'S LUXURY SINGLE FAMILY HOME MARKET
Month-over-month, May 2025 luxury homes market in Charlotte region saw single family home new listings increase from April with 587 new listings versus 543 in the prior month, providing more options for luxury home buyers.
Median sale price and average sale price were essentially flat month-over-month.
Closed sales increased month-over-month, as did pending sales. The median list to sale price ratio declined 1.3% month-over-month.
Active listings increased to 1,024 in May 2025 from 858 in April 2025. Median days on market increased by one day in May versus April; average days on market declined six days in May from 33 days one month ago.
Month-over-month, the months supply of inventory increased to 4.6 months from 3.0 months.
Month-over-month, buyer foot traffic declined to 5 showings per listing from 5.8 showings. On average, single family luxury homes saw 10 showings before going under contract, down from 12 showings in each of the first four months of 2025.
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This Charlotte region luxury homes market May 2025 update is provided by Nina Hollander with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate expert serving Greater Charlotte luxury home buyers and sellers since 1999.
If you're considering selling or purchasing a luxury home in the Charlotte region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
Previous 2025 Charlotte Region Luxury Homes Market Reports
Charlotte Region Luxury Homes Market Report: April 2025
Charlotte Region Luxury Homes Market Report: March 2025
Charlotte Region Luxury Homes Market Report: February 2025
Charlotte Region Luxury Homes Market Report: January 2025
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