The latest trends, pricing updates, and inventory shifts in our market.
Recently, I’ve received many emails from some of you inquiring about the current state of the market. Today, I wanted to provide a brief update.
Firstly, the average sales price in 2023 increased compared to 2022. Last year, the average sales price was $422,000, up from $409,000 in 2022. Despite interest rate hikes, a shortage of homes, and the peculiarities of the past year, real estate prices in Charlotte saw an upward trend.
“Real estate prices in Charlotte saw an upward trend.”
Additionally, the monthly supply of inventory for Mecklenburg County is noteworthy. This metric indicates that if all homes in the MLS were to sell without new listings, there would be a one-month supply for Mecklenburg County. Across the rest of the MLS, the average supply is around 2 to 3 months.
Active listings have seen a positive change, increasing by 15% over the last 90 days. This rise in inventory is a positive sign for the upcoming year, offering more choices for homebuyers and potential opportunities for homeowners considering selling.
The outlook for this year seems promising, with more active listings compared to the same time last year. I’ll be providing periodic updates throughout the year. If you’re curious about your home’s value or want a free evaluation, click this link to request a home valuation. Our team will promptly reach out to provide you with that information. Also, for any of your real estate needs, don’t hesitate to call or email. We’re happy to help.
