A breakdown of the Charlotte real estate market and what it means for you.
As we step into the summer following a joyful 4th of July, it’s the perfect time to dive into the latest real estate trends from Charlotte, as of June 2024. This year has shown significant movements in the market that are worth noting whether you’re planning to buy or sell.
June brought an increase in new listings by 11.8%, totaling 5,271 properties. Pending sales also rose by 7.6%, with 4,127 properties soon to change hands. More striking, however, is the leap in overall inventory, which surged by 39.7% to reach 7,968 available homes.
“It’s an ideal time to explore the market.”
This surge in inventory has brought about an interesting dynamic in pricing and market availability. Despite the increase in available properties, the average sales price has also seen a substantial rise from $485,000 last year to $523,000 this year. The days on market are relatively stable, slightly increasing from 30 to 31 days.
What does this mean for you? It’s still a seller’s market, with only 2.3 months’ supply of inventory available, up from 1.6 months last year. This presents a unique opportunity for sellers to capitalize on rising home values. Meanwhile, buyers have a broader range of options than in previous months, making it an ideal time to explore the market. If you’re considering buying or selling or simply want to understand the value of your home, don’t hesitate to reach out by phone or email for tailored advice.
