Charlotte Region Luxury Home Sales Report: May 2023. What To Know Now.
By Nina Hollander, Broker, Your Greater Charlotte Realtor
(Coldwell Banker Realty)
Latest news on Charlotte Region's luxury homes market...What happened in May 2023... YEAR-OVER-YEAR TRENDS IN THE LUXURY HOME MARKET IN CHARLOTTE REGIONThe luxury homes market in Charlotte saw a 10.1% increase in new listings year-over-year after decreasing in April 2023. Inventory increased year-over-year by 20.3%. The months supply of inventory increased from 2.7 months one year ago to 3.1 months. Median home sale price increased 2.2%, while average home sale price increased 7.9%. Closed sales increased 8% in May 2023 versus the same month one year ago. Median list to sale price ratio decreased 2.3% year-over-year, but was still 100%. Buyer foot traffic decreased 10.1% from 7.9 showings per home to 7.1 showings year-over-year. Median days on market were just four in May, one day more...