I’ll go over the latest updates in Charlotte’s housing market, including rising inventory, prices, and more.
The Charlotte housing market shows notable changes that reflect a shifting landscape for both buyers and sellers. New listings rose by 7.5% to 4,688 homes, and pending sales saw a significant 14% increase to 3,552, indicating that the recent rise in inventory is sparking more buyer interest. Additionally, the number of available homes surged by 42% to 9,454, signaling a continued influx of inventory. Here’s a look at what these trends mean for the Charlotte real estate market:
1. Growing Inventory and Rising Sales. A substantial increase in new listings and pending sales suggests that more homes are entering the market—and buyers are responding. Last month’s price reductions across the board appear to have positively impacted sales, with pending contracts now on the rise. In previous months, while we saw an increase in listings, the number of pending sales lagged, leading to price adjustments. Now, with more inventory and attractive pricing, pending sales are finally picking up.
“We may see a renewed surge in buyer activity as we head into the fourth quarter and spring season.”
2. Prices Continue to Rise Despite Reductions. Interestingly, the median sales price has increased by 3.9% to $395,000 despite recent price reductions to stimulate sales. This figure reflects all areas within the MLS region, from Mecklenburg County to South Carolina. Additionally, the month’s supply of homes is up by 42% to 2.7 months, suggesting a balanced market. For context, this 2.7-month supply indicates how long it would take to sell all current listings at the current sales pace, reinforcing a neutral market.
3. A Neutral Market Awaits Buyers. With a 2.7-month supply, Charlotte remains in a balanced market where conditions neither favor buyers nor sellers. This aligns with recent insights from Zillow, which also describe a stable market environment. National trends echo this, as the National Association of Realtors (NAR) reports a 22% increase in inventory compared to last year. NAR’s chief economist suggests that rising inventory levels and lower mortgage rates should create favorable conditions for home sales in the near future—a sentiment I agree with.
With more homes available and mortgage rates potentially easing, we may see a renewed surge in buyer activity as we head into the fourth quarter and spring season. If you have questions about what your home is worth in this evolving market or would like to schedule a consultation, please call or email. I’d be happy to discuss your options and how these trends might impact your plans.
