Charlotte luxury homes market in April 2022 saw continued demand for luxury homes with both median and average sale prices increasing year-over-year. Average and median days on market were down significantly year-over-year. Although new listings increased, inventory was down year-over-year and the months supply of homes was also down year-over-year. Homes sold as quickly as they came on the market. With just 2.1 months of inventory, the luxury segment of Charlotte’s housing market remained a seller’s market in the month of April.
Charlotte Region’s Luxury Home Market Overview: April 2022
Latest news on Charlotte Region’s luxury housing market in April 2022 and what it means for you…
Charlotte Region’s single family luxury homes real estate market remained strong with continuing low levels of inventory that have not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as were the months supply of inventory.
Luxury home sellers continued to see a higher sale price as a percent of listing price. Median home sale prices increased 4.6%, while average sales prices increased 3.6% year-over-year.
Throughout much of 2021 there was concern that luxury home buyers might “give in” to buyer fatigue and take a “wait and see” position due to frustrations caused by multiple offers, declines in inventory, and the lack of inventory. This did not occur in 2021 and thus far this does not appear to be the case in 2022. The luxury market remained a seller’s market.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region April 2022:
- Homes Sold: 183 in April 2022, up 22.8% compared with April 2021. The number of homes sold was up month-over-month.
- Pending Sales: 232 in April 2022, up 18.4% compared with April 2021. Pending sales were up month-over-month.
- New Listings: 293 in April 2022 up 14.5% compared with April 2021. New listings were up month-over-month.
- Inventory of Homes: down 7.8% to 307 in April 2022 compared with April 2021. Inventory of homes was up month-over-month.
- Months Supply of Homes: down 16% with 2.1 months supply compared with 2.5 months supply in April 2021 and 8.2 months supply in April 2020. Months supply of homes was up 0.2 months over March 2022.
- Average Days on Market: 17 days in April 2022 compared with 50 days in April 2021 and 57 days in April 2020. Average days on market were down 14 days month-over-month.
- Median Days on Market: 3 days in April 2022 compared with 9 days in April 2021 and 10 days in April 2020.
- Average Sale Price: up 3.6% at $1,569,845 in April 2022 compared with $1,515,891 in April 2021.
- Median Sale Price: up 4.6% at $1,357,500 in April 2022 compared with $1,297,444 in April 2021.
- Median % Of List Price Received: up 4.5% to 104.5% in April 2022 compared with 100% in April 2021. Median % of list price received was up 4.5% month-over-month.
The most expensive home sold in the Charlotte Region in April 2022 sold for $5,650,000 in Myers Park. This was a new construction home designed by Smith Slovik Residential Design Group and built by Mills Eloge Homes. Situated on .62 acres, the contemporary-style home featured six bedrooms, seven full baths, two half baths, 3-car garage, pool, outdoor fireplace, and outdoor shower.
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AVERAGE SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
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This Charlotte region luxury housing market update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Greater Charlotte Region luxury residential real estate experts serving Charlotte area luxury home buyers and sellers for 20+ years.
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