Charlotte Real Estate November 2024

Latest news on Charlotte real estate November 2024 and what it means for you…

Counties In Charlotte Region's MLS

November 2024 closed home sales improved 4.5% in the 16-County Charlotte Region. This was the second consecutive month of improved closed sales. October 2024 was the first month to see an increase in closed sales since July 2024. Year-to-date, closed sales were down 0.6% year-over-year. Compared with last month, sales were down 6.3%. Pending sales increased compared with one year ago — up 22.5% year-over-year and up 4.4% month-over-month, but down 14.2% compared with the previous month of October. It would appear that November’s activity is a carry-over from interest rates, which fell to their lowest level in 2024 in late September.

 

Days on market increased 36.4% to 45 days in November compared with the same month one year ago and were up four days month-over-month. Year-to-date, days on market increased by two days to 38 days (unchanged from the previous month).

 

The Charlotte region’s home prices remained on the rise with buyer demand steady and supply and inventory still tight. Average sale price increased 8.3% in November to $487,445 compared with the same month one year ago, while the median sale price increased 3.7% year-over-year to $392,012.  This was the 16th consecutive month of year-over-year sale price increases. Year-to-date, both median and average sale prices increased from one year ago, 3.5% and 7.1%, respectively.   

 

The November list to sale price ratio declined 1.2% year-over-year to 95.7%. Month-over-month, the list to sale price ratio declined 0.2%. Year-to-date, the list to sale price ratio declined 0.4% in November compared with one year ago. Home buyers are seeing opportunities to negotiate on price. Price reductions were up 42% year-over-year across the Charlotte region. 

 

November new listings increased 7.3% year-over-year, but were down 15.2% compared with the previous month of October. November new listings were higher by 260 properties compared with November 2023. November 2024 marks the 13th consecutive month of increases in new listings. Despite the increase in new listings, the average list price increased 7.7% in November 2024 compared with November 2023. And although listing activity has increased, it hasn’t been enough to significantly impact supply and home prices.

 

Overall inventory increased 28.7% from the same month last year. Despite the increase in new listings and inventory, November’s months supply of homes for sale at 2.6 months, down 0.1 months from the prior month,  kept Charlotte region in “home seller territory.” The City of Charlotte had 2.2 months of inventory in November, unchanged from the prior month. The Charlotte housing market is nowhere near balanced as yet.

 

Buyer foot traffic increased 12% year-over-year in overall showing activity indicating that buyer demand is steady.

 

CHARLOTTE REGION NOVEMBER 2024 REAL ESTATE SNAPSHOT

Charlotte Region Housing Market Update for November 2024

 

Based on information from Canopy MLS for the period November 1, 2024-November 30, 2024 in the 16 County Charlotte Region.

 

WHY THIS WINTER IS THE SWEET SPOT FOR SELLING YOUR HOME

Thinking about selling your house? Here are a few reasons why you may want to do it this winter. Buyers looking right now are serious about moving and the number of homes for sale is typically lower this time of year – helping your house stand out. While inventory is higher this year than it’s been in the last few winters, you’ll still be in this year’s sweet spot. If you’re ready and able to buy, let’s connect so you can start growing your wealth now. 

 

Why this winter will be the sweet spot for selling your home

DON’T FALL FOR THESE REAL ESTATE MYTHS

 

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

I can help.

Call me today at 704-779-0813 or contact me here.

There’s absolutely NO OBLIGATION. A consultation with Nina Hollander is FREE

 

 

 

LOOKING FOR YOUR DREAM HOME IN GREATER CHARLOTTE? 

 

Find Your Dream Home at www.GreatHomesInCharlotte.com

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

 

 

PREVIOUS CHARLOTTE HOUSING MARKET UPDATES

Charlotte Real Estate Report: October 2024

Charlotte Real Estate Report: September 2024

Charlotte Real Estate Report: August 2024

Charlotte Real Estate Report: July 2024

Charlotte Real Estate Report: June 2024

Charlotte Real Estate Report: May 2024

Charlotte Real Estate Report: April 2024

Charlotte Real Estate Report: March 2024

Charlotte Real Estate Report: February 2024     

Charlotte Real Estate Report: January 2024