Luxury Homes Market: Charlotte December 2024

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

The December  2024 luxury homes market in the Charlotte region saw a 34.7% increase in new listings. Inventory increased 22.5%. The months supply of homes for sale declined to 2.7 months, down 3.6%, keeping the luxury segment of Charlotte’s market in a seller’s market. If you remove new construction from this metric, the months supply of homes was even lower at 2.2 months. Median home sale price declined 3.9% to $1,298,000 while the average home sale price declined 12% to $1,585,345. Price per square foot increased 0.8% to $394 over last year. Closed sales increased 31.7% in December 2024 versus the same month one year ago. Pending sales improved 34.6% from one year ago. Median list to sale price ratio declined 0.6% to 96.7%. Buyer foot traffic declined in December 2024 to 4.0 showings per listing from 4.6 showings in the same month last year. On average, single family luxury homes saw 17 showings before going under contract, down from 18 in the same month one year ago.  Median days on market were 17 in December 2024, declining one day the same month one year ago. Average days on market increased four days compared with December 2023 to 43 days. 

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

Month-over-month, December 2024 luxury homes market in Charlotte region saw single family home new listings decline from November 2024 with 128 new listings versus 219 in the prior month.  Median sale price decreased month-over-month. The average sale price also decreased month-over-month. Closed sales declined from November by 10 sales. Pending sales declined to 140 from 169 one month ago. The median list to sale price ratio increased month-over-month by 0.3%. Active listings declined to 555 in December from 680 in November. Median days on market increased one day; average days decreased six days from 49 days one month ago. The months supply of inventory declined to 2.7 months from 3.4 months in November. Month-over-month, buyer foot traffic declined to 4.0 showings per listing from 4.5 showings. On average, single family luxury homes saw 17 showings before going under contract, down from 10 in the previous month.

Luxury Homes Market Charlotte Region December 2024 Snapshot

• Homes Sold: 162 in December 2024, up 31.7% compared with December 2023. The number of homes sold month-over-month declined by 10 homes.
• Pending Sales: 140 in December 2024, up 34.6% compared with December 2023. Pending sales declined month-over-month by 29 homes.
• New Listings: 128 in December 2024, up 34.7% compared with December 2023. New listings declined by 91 homes month-over-month. 
• Inventory of Homes: up 22.5% to 555 in December 2024 compared with December 2023.  Inventory decreased by 125 homes from the previous month. 
• Months Supply of Homes:  was 2.7 months in December 2024, down from 2.8 months in December 2023. Months supply of homes declined from 3.4 months in the previous month.
• Average Days on Market: 43 days in December 2024 compared with 39 days in December 2023.  Average days on market declined six days from November 2024.
• Median Days on Market: 17 days in December 2024 compared with 18 days in December 2023. Median days on market increased one day from November 2024.
• Average Sale Price: declined 12% year-over-year to $1,585,345 in December 2024. Compared with November 2024, the average sale price decreased by just under $59,000.
• Median Sale Price: declined 3.6% year-over-year to $1,298,000.  Month-over-month, median home sale price decreased by just over $134,000.
• Median % Of List Price Received: declined 0.6% to 96.7% in December 2024 compared with December 2023. Month-over-month, the list to sale price ratio saw a 0.3% increase.

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This Charlotte region luxury homes market December 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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