Luxury Homes Market: Charlotte June 2024

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

The June 2024 luxury homes market in Charlotte region saw a 26.8% increase in new listings. Inventory increased 38%. The months supply of homes for sale increased to 4 months from 3.4 months one year ago, keeping the luxury segment of Charlotte’s market in a balanced position. Median home sale price increased 1.3% to $1,342,500, while the average home sale price declined 0.3% to $1,596,028. Closed sales increased 5.8% in June 2024 versus the same month one year ago. Pending sales improved 33.2% from one year ago. Median list to sale price ratio declined 1.1% to 98.9%. Buyer foot traffic declined in June 2024 to 5.6 showings per listing from 6.9 showings in the same month last year. On average, single family luxury homes saw 15 showings before going under contract (up one from one year ago).  Median days on market were 7 in June 2024, increasing from 4 days the same month one year ago. Average days on market increased by one day from June 2023.

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

Month-over-month, June 2024 luxury homes market in Charlotte region saw new single family home listings decline from May 2024 with 360 new listings versus 691 in the prior month.  Median sale price decreased $72,500 month-over-month. The average sale price decreased $93,575 month-over-month.  Closed sales declined in June versus May, as did pending sales. The list to sale price ratio declined 1.1% from one month ago.  Active listings decreased from May to 741 properties from 1,348. Median days on market increased 2 days; average days declined 7 days from 36 days one month ago. The months supply of inventory declined 1.5 months from May. Month-over-month, buyer foot traffic was relatively flat, increasing to 5.6 showings per listing from 5.2 showings.

Luxury Homes Market Charlotte Region June 2024 Snapshot

• Homes Sold: 256 in June 2024, up 5.8% compared with June 2023. The number of homes sold month-over-month declined by 105 homes.
• Pending Sales: 269 in June 2024, up 33.2% compared with June 2023. Pending sales declined month-over-month by 100 homes.
• New Listings: 360 in June 2024, up 26.8% compared with June 2023. New listings declined by 331 homes month-over-month (after increasing by 300 homes in May 2024).
• Inventory of Homes: up 38% to 741 in June 2024 compared with June 2023.  Inventory declined by 607 homes from the previous month. 
• Months Supply of Homes:  was 4 months, up from 3.4 months in June 2023. Months supply of homes declined 1.5 months from May 2024.
• Average Days on Market: 29 days in June 2024 compared with 28 days in June 2023.  Average days on market declined 7 days from May 2024.
• Median Days on Market: 7 days in June 2024 compared with 4 days in June 2023. Median days on market increased 2 days from May 2024.
• Average Sale Price: declined 0.3% year-over-year to $1,596,028 (about $4,600) in June 2024. Compared with May 2024, the average sale price declined just under $94,000.
• Median Sale Price: improved 1.3% year-over-year to $1,342,500.  Month-over-month, median home sale price declined by $72,500.
• Median % Of List Price Received: declined 1.1% to 98.9% in June 2024 compared with June 2023. Month-over-month, the list to sale price ratio also declined 1.1%.

THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN June 2024

The most expensive home sold in the Charlotte region in June 2024, sold for $8,400,00 in the gated Greenwood neighborhood in Charlotte’s Ballantyne area. This custom-built home built in 1996, by Kaleel Builders, is situated on 5.4 private, gated acres. The 2-story, Mediterranean-style, hard stucco and stone home features 8 bedrooms/10.1 bathrooms totaling just under 13,000 square plus a six-car garage. The backyard oasis includes an outdoor kitchen, fireplace, saltwater pool, outdoor shower, basketball court, tennis court, and putting green. The home was sold fully furnished.

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This Charlotte region luxury homes market June 2024 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 since 1999.

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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