Luxury Homes Market: Charlotte November 2024

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

The November  2024 luxury homes market in the Charlotte region saw a 32.7% increase in new listings. Inventory increased 26.6%. The months supply of homes for sale was unchanged at 3.4 months, keeping the luxury segment of Charlotte’s market in a seller’s market. Median home sale price improved 3.1% to $1,432,362 while the average home sale price improved 1.5% to $1,642,158. Price per square foot increased 4% to $393 over last year. Closed sales increased 53.6% in November 2024 versus the same month one year ago. Pending sales improved 44.4% from one year ago. Median list to sale price ratio declined 2.6% to 97.4%. Buyer foot traffic declined in November 2024 to 4.5 showings per listing from 5.0 showings in the same month last year. On average, single family luxury homes saw 10 showings before going under contract, down from 11 in the same month one year ago.  Median days on market were 16 in November 2024, increasing from four days the same month one year ago. Average days on market increased 22 days compared with November 2023  to 49 days. 

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

Month-over-month, November 2024 luxury homes market in Charlotte region saw single family home new listings decline from October 2024 with 219 new listings versus 265 in the prior month.  Median sale price increased month-over-month. The average sale price also increased month-over-month. Closed sales declined from October by 30 sales. Pending sales declined to 169 from 213 one month ago. The average list to sale price ratio declined slightly month-over-month by 0.4%. Active listings declined to 680 in November from 726 in October. Median days on market declined one day; average days increased 14 days from 35 days one month ago. The months supply of inventory declined to 3.4 months from 3.7 months in October. Month-over-month, buyer foot traffic declined slightly 4.5 showings per listing from 4.8 showings. On average, single family luxury homes saw 10 showings before going under contract, down from 13 in the previous month.

Luxury Homes Market Charlotte Region November 2024 Snapshot

• Homes Sold: 172 in November 2024, up 53.6% compared with November 2023. The number of homes sold month-over-month declined by 30 homes.
• Pending Sales: 169 in November 2024, up 44.4% compared with November 2023. Pending sales declined month-over-month by 44 homes.
• New Listings: 219 in November 2024, up 32.7% compared with November 2023. New listings declined by 46 homes month-over-month. 
• Inventory of Homes: up 26.6% to 680 in November 2024 compared with November 2023.  Inventory decreased by 46 homes from the previous month. 
• Months Supply of Homes:  was 3.4 months, unchanged from 3.4 months in November 2023. Months supply of homes declined from 3.7 months in the previous month.
• Average Days on Market: 49 days in November 2024 compared with 27 days in November 2023.  Average days on market declined 14 days from October 2024.
• Median Days on Market: 16 days in November 2024 compared with four days in November 2023. Median days on market decreased one day from October 2024.
• Average Sale Price: increased 1.5% year-over-year to $1,642,158 in November 2024. Compared with October 2024, the average sale price increased by just under $38,000.
• Median Sale Price: increased 23.1% year-over-year to $1,432,362.  Month-over-month, median home sale price increased by just over $68,000.
• Median % Of List Price Received: declined 2.6% to 97.4% in November 2024 compared with November 2023. Month-over-month, the list to sale price ratio saw a 0.4% decrease.

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This Charlotte region luxury homes market November 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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