Luxury Homes Market: Charlotte September 2024

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

The September 2024 luxury homes market in the Charlotte region saw a 26.2% increase in new listings. Inventory increased 50.4%. The months supply of homes for sale was flat at 4.2 months, keeping the luxury segment of Charlotte’s market in a balanced position. Median home sale price increased 9.6% to $1,507,500, while the average home sale price increased 14.5% to $1,784,491. Price per square foot increased 9.9% to $379 over last year. Closed sales increased 4% in September 2024 versus the same month one year ago. Pending sales improved 27.9% from one year ago. Median list to sale price ratio declined 1.9% to 96.7%. Buyer foot traffic declined in September 2024 to 4.8 showings per listing from 5.6 showings in the same month last year. On average, single family luxury homes saw 10 showings before going under contract (down one from one year ago).  Median days on market were 21 in September 2024, increasing from 10 days the same month one year ago. Average days on market increased eight days from September 2023  to 44 days.

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

Month-over-month, September 2024 luxury homes market in Charlotte region saw single family home new listings increase from August 2024 with 299 new listings versus 296 in the prior month.  Median sale price increased month-over-month. The average sale price also increased month-over-month. Closed sales declined from August by 42 sales. Pending sales declined to 197 from 202 one month ago. The average list to sale price ratio was flat month-over-month. Active listings increased to 797 in September from 762 in August. Median days on market increased four days; average days increased 12 days from 32 days one month ago. The months supply of inventory was flat month-over-month at 4.2 months. Month-over-month, buyer foot traffic was relatively flat, declining to 4.8 showings per listing from 4.9 showings. 

Luxury Homes Market Charlotte Region September 2024 Snapshot

• Homes Sold: 180 in September 2024, up 4% compared with September 2023. The number of homes sold month-over-month declined by 42 homes.
• Pending Sales: 230 in September 2024, up 27.9% compared with September 2023. Pending sales declined month-over-month by 5 homes.
• New Listings: 299 in September 2024, up 26.2% compared with September 2023. New listings increased by 3 homes month-over-month. 
• Inventory of Homes: up 50.4% to 797 in September 2024 compared with September 2023.  Inventory increased by 35 homes from the previous month. 
• Months Supply of Homes:  was 4.2 months, up from 3.4 months in September 2023. Months supply of homes was flat compared with August 2024. 
• Average Days on Market: 44 days in September 2024 compared with 36 days in September 2023.  Average days on market increased 8 days from August 2024.
• Median Days on Market: 21 days in September 2024 compared with 10 days in September 2023. Median days on market increased 4 days from August 2024.
• Average Sale Price: increased 14.5% year-over-year to $1,784,491 in September 2024. Compared with August 2024, the average sale price improved by just under $160,000.
• Median Sale Price: improved 9.6% year-over-year to $1,507,500.  Month-over-month, median home sale price improved by $137,500.
• Median % Of List Price Received: declined 1.9% to 96.7% in September 2024 compared with September 2023. Month-over-month, the list to sale price ratio saw a negligible decline of 0.1%.

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This Charlotte region luxury homes market September 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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