Charlotte luxury homes market in October 2022 continued to see solid demand for luxury homes with closed sales up year-over-year. Average and median sale prices were up year-over-year and month-over-month. Days on market were down. Inventory and new listings were up year-over-year, but new listings were down from September 2022.
Charlotte Region real estate in September 2022 saw home sales drop 20.8% year-over-year, while home prices increased 16.1%, on average. Sales dropped for an ninth consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 22 days, on average. The months supply of homes, while increasing, stood at 1.6 months, keeping Charlotte in “home seller territory,” despite an increase in inventory overall. Home affordability is suffering.
Tega Cay real estate September 2022 kept home sellers in the driver’s seat. Tega Cay’s housing market saw higher home prices, lower inventory, and fewer new listings. At 0.9 months of housing inventory Tega Cay remained a seller’s market. Pending and closed sales were down. Meantime, days on market reached almost two-year highs, signaling a market shift to a slower pace of sales.
Indian Land real estate September 2022 saw new average and median sale price records for homes. Months supply of homes remained low at 1.5 months, while overall inventory increased. New listings decreased 6.6%, despite a 104.3% increase in new construction inventory and a 25.5% increase in resale home inventory, year-over-year. Closed and pending home sales both decreased in the month of September in Indian Land, South Carolina. Days on market also decreased in September year-over-year.
Indian Trail real estate saw a cooling in September 2022 with sales down, inventory substantially up, days on market up. The median list to sale ratio dropped below 100% in September for a second consecutive month, showing a small window of opportunity for Indian Trail home buyers to negotiate. Nonetheless, home prices increased year-over-year and new listings were down.
Waxhaw area real estate market showed signs of cooling in September 2022, despite an increase in home prices. A list to sale price ratio of 97.9% was the lowest Waxhaw has seen since November 2019. Waxhaw also saw a ninth 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 1.9 months in September and new listings were down.