Luxury Homes Market Charlotte Region: November 2023

LUXURY HOMES MARKET IN CHARLOTTE REGION  

 

UPDATE FOR NOVEMBER 2023…

 

WHAT TO KNOW NOW…

 

YEAR-OVER-YEAR TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET IN CHARLOTTE REGION

The November 2023 luxury homes market in Charlotte saw a 30.2% increase in new listings year-over-year. Inventory also increased  year-over-year by 7.9%.  The months supply of inventory increased from 3.1 months to 3.2 months year-over-year. Median home sale price improved 7.3% to $1,412,500, while the average home sale price increased 6.6%. Closed sales declined 4.3% in November 2023 versus the same month one year ago. Pending sales increased 33% from one year ago. Median list to sale price ratio improved 3.1% year-over-year to 100%. Buyer foot traffic increased 4% to 5.2 showings per listing year-over-year.  Median days on market were 4 in November,  declining 16 days from the same month one year ago. 

MONTH-OVER-MONTH TRENDS IN THE LUXURY SINGLE FAMILY HOME MARKET IN CHARLOTTE REGION

Month-over-month, the luxury homes market in Charlotte saw new listings decline from October 2023 with 164 new listings versus 234 in the prior month.  Median sale prices increased from the previous month, while the average sale price declined.  Closed sales declined in November versus October. Pending sales increased by two homes, month-over-month.. The list to sale price increased 1.9%  from October.  Active listings declined in November. Median days and average days on market declined seven days and 13 days, respectively, from October 2023. The months supply of inventory decreased 0.1 months from October. Buyer foot traffic in November declined to 5.2 showings from 5.9 showings per active listing from October. 

 

 

 

Luxury Homes Market Snapshot For Single Family Homes: Charlotte Region November 2023

• Homes Sold: 110 in November 2023, down 4.3% compared with November 2022. The number of homes sold month-over-month decreased by 26 homes.
• Pending Sales: 125 in November 2023, up 33% compared with November 2022. Pending sales declined month-over-month by two homes.
• New Listings: 164 in November 2023, up 30.2% compared with November 2022. New listings decreased by 70 homes month-over-month.
• Inventory of Homes: up 7.9% to 504 in November 2023 compared with November 2022.  Inventory decreased by 15 homes from October 2023. 
• Months Supply of Homes:  was 3.2 months, up from 3.1 months in November 2022. Months supply of homes decreased 0.1 months over October 2023.
• Average Days on Market: 27 days in November 2023 compared with 42 days in November 2022.  Average days on market decreased 13 days month-over-month. 
• Median Days on Market: 4 days in November 2023 down 16 days from November 2022. Compared with the prior month of October, median days on market decreased seven days.
• Average Sale Price: up 6.6% year-over-year to $1,625,791 in November. Month-over-month average sale price decreased approximately $123,000.
• Median Sale Price: increased 7.3% to $1,412,500.  Month-over-month, median home sale price increased approximately $12,500.
• Median % Of List Price Received: increased 3.1% to 100% in November 2023 compared with 96.9% in November 2023. Month-over-month, the list to sale price ratio also increased 1.9%.

 

THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN NOVEMBER 2023

The most expensive home sold in the Charlotte region in November 2023, sold for $7,600,000 in Quail Hollow.  Built in 2009, the Georgian-style home was located on 1.13 acres on the 14th fairway of the Quail Hollow Club. This estate property featured an 11,500+ square foot home with five bedrooms and 6.3 bathrooms. The property included a sunroom, in-ground pool,  dedicated wine cellar, two laundry rooms, 4-car garage and an elevator.

 

Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?

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AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION

 

 

LOOKING FOR YOUR LUXURY DREAM HOME IN THE CHARLOTTE AREA? 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

COLDWELL BANKER GLOBAL 2023 LUXURY MARKET INSIGHTS REPORT

 

 

WONDERING WHAT YOUR CHARLOTTE AREA LUXURY HOME IS WORTH IN TODAY’S MARKET? 

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME?

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SEARCH GREATER CHARLOTTE AREA HOMES FOR SALE 

 

 

This Charlotte region luxury housing market update is provided  by Nina Hollander  with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate expert serving Greater Charlotte luxury home buyers and sellers for 25 years.

 

If you’re considering selling or purchasing a luxury home in the Charlotte region, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:

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