Home prices and inventory are both on the rise in Charlotte this year.
The latest market report from the MLS provides insight into the Charlotte real estate market for December 2024. The data highlights a positive trend, with key indicators showing growth compared to the same period in 2023.
Listings and sales. New listings have increased by 1.5%, reaching 2,651. Pending sales have also risen, marking a nearly 12% increase from December 2023. This indicates a higher number of homes under contract, suggesting strong buyer interest. The average sales price has climbed by almost $20,000, moving from $452,000 to $471,000. Additionally, the overall housing inventory has expanded significantly. In December 2023, the market had 6,500 homes available, while December 2024 saw an increase to 8,100 homes—a 24% growth.
Prices are on the rise. Despite concerns about a slow market in previous months, home prices in Charlotte continue to rise. The region experienced an almost 5% increase in home prices, aligning with national averages but slightly below Charlotte’s typical 8% to 10% annual growth. This trend suggests that it remains a favorable time for sellers as high property values persist. However, buyers also benefit from a growing inventory, offering more choices and retaining some negotiation power.
So, what do these trends mean for buyers and sellers? Current conditions create a balanced market, offering advantages to both buyers and sellers. Sellers can still secure top dollar for their properties, while buyers have more options available than in the previous year. Those looking to buy or sell in 2025 can take advantage of these conditions and plan their next steps accordingly. If you have questions or need guidance, don’t hesitate to reach out. Feel free to text or call me at (704) 777-8090 or send an email to john@jbolos.com. I look forward to hearing from you.
