Charlotte luxury homes market in September 2022 saw solid demand for luxury homes with both pending and closed sales up year-over-year, as were average and median sale prices. Despite an increase in inventory and new listings, sellers continued to see a list to sale price ratio of 100%. Month-over-month, pending sales were down, while closed sales were flat. Months supply of homes were at their lowest level in four months. Average and median days on market were up by three days year-over-year.
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Home Buying and Selling Guides for Fall 2022 have arrived. Do you have questions about home prices, mortgage rates, or inflation in today’s housing market? Are you wondering how it impacts you when you buy or sell? Are you wondering if it’s a good time to buy or sell a home? If you’ve been thinking about buying or selling a Greater Charlotte area home in Fall 2022, let’s connect to give you access to current market insights and the ability to make a confident decision for your family.
Charlotte Region real estate in August 2022 saw home sales drop 22% year-over-year, while home prices increased 16.9%, on average. Median home sale prices set a new record. Sales dropped for an eighth consecutive month due to higher home prices, increasing interest rates, and low inventory. Homes sold in 19 days, on average. The months supply of homes, while increasing, stood at 1.5 months, keeping Charlotte in “home seller territory,” and despite an increase in inventory overall.
Tega Cay real estate August 2022 kept home sellers in the driver’s seat. Tega Cay’s housing market saw higher home prices setting new record highs, lower inventory, fewer days on market, and fewer new listings. At 1.1 months of housing inventory Tega Cay remained a seller’s market. Pending and closed sales were down.
Indian Land real estate August 2022 saw new median sale price records for homes, increasing 11.1% year-over-year. Months supply of homes remained low at 1.4 months. New listings decreased 14.5%, despite a 70.4% increase in new construction inventory. Closed and pending home sales both decreased in the month of Agust in Indian Land, South Carolina. While average days on market increased, they were still relatively low at 17 days in August 2022.
Indian Trail real estate in August 2022 saw a cooling in August 2022 with sales down, inventory up, days on market up. The median list to sale ratio dropped below 100% in August, showing a small window of opportunity for Indian Trail home buyers to negotiate. Nonetheless, home prices increased year-over-year, new listings were down, price per square foot set a new record, and homes sold in 15 days on average.
Waxhaw area real estate market kept home sellers in the driver’s seat in August with average home sale prices increasing year-over-year and the median list to price sale ration holding at 100%. Median home prices in Weddington and Marvin again exceeded $1 million in August. At the same time, we saw an eighth consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.8 months in August and new listings were down.
Ballantyne real estate market continued to favor home sellers in August 2022 with higher home prices and new listings down. Homes continued to sell quickly. Sellers saw median 100% of list price in final sale price. Closed and pending sales were down, however, due at least in part to buyers pulling back in the face of interest rate increases. The “feeding frenzy” of summer 2021 seems to have come to an end in Ballantyne.