Charlotte luxury homes market in August 2022 saw solid demand for luxury homes with both pending and closed sales up year-over-year, as were average sale prices. Despite an increase in inventory and new listings, sellers received a higher list to sale price ratio of 100%. Month-over-month, pending and closed sales were down, months supply of homes were down slightly, average days on market were up, new listings were down.
Charlotte Region’s Luxury Home Market Overview: August 2022
Latest news on Charlotte Region’s luxury housing market in August 2022 and what it means for you…
Despite predictions of a significant market correction in 2022, Charlotte Region’s single family luxury homes real estate market remained relatively strong year-over-year and continued to “hold its own” through August 2022. Median days on market were flat at 7 days, year-over-year; average days on market increased 5 days year-over-year. The luxury market saw an increase in new listings year-over-year as well as in total inventory. Nonetheless, median home sale prices were flat year-over-year, while average home sale prices increased 9.5%. Both pending and closed sales increased in August 2022 versus the same month one year ago. Median % of list price received increased 0.1% to 100% in August 2022 compared with August 2021.
On a month-over-month basis, new listings increased 20.6% compared with July 2022. Average sales prices increased month-over-month, while median sale prices decreased. The list to sale ratio decreased slightly compared with July 2022, by 0.1%. Active listings in August were higher by two homes compared with July. New listings were down compared with July 2022. The months supply of inventory also dropped slightly month-over-month. Buyer foot traffic decreased slightly from 8.2 showings per home to 7.8 showings on a month-over-month basis.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region August 2022:
- Homes Sold: 175 in August 2022, up 1.7% compared with August 2021. The number of homes sold down down month-over-month by 25 homes.
- Pending Sales: 168 in August 2022, up 20.0% compared August 2021. Pending sales were down month-over-month by 30 homes.
- New Listings: 217 in August 2022 up 20.6% compared with August 2021. New listings dropped by 65 homes month-over-month.
- Inventory of Homes: up 46.2% to 506 in August 2022 compared with August 2021. Inventory of homes was up by just two homes month-over-month.
- Months Supply of Homes: up 23.1% to 3.2 months supply compared with 2.6 months supply in August 2021. Months supply of homes was down 0.1 months over July 2022.
- Average Days on Market: 32 days in August 2022 compared with 27 days in August 2021. Average days on market increased 18 days month-over-month.
- Median Days on Market: 7 days in August 2022 with no change compared with August 2021. Median days on market were four days higher month-over-month.
- Average Sale Price: up 9.5% at $1,583,330 in August 2022 compared with $1,506,863 in August 2021.
- Median Sale Price: flat year-over-year at $1,305,000. Month-over-month, median home sale prices dropped $43,572.
- Median % Of List Price Received: up 0.1% to 100% in August 2022 compared with 99.9% in August 2021. Month-over-month, median % of list price received decreased 0.1%.
THE MOST EXPENSIVE HOME SOLD IN THE CHARLOTTE REGION IN AUGUST 2022
The most expensive home sold in the Charlotte region in August 2022, sold for $5,120,000 on Lake Norman in Mooresville. Built on 1.03 acres in 2007, this was a 7,539 square foot, French Provincial style, custom-built home. The home featured four bedrooms, five full bathrooms, two half bathrooms, 4+ car garage, in-ground pool, boat lift, stationery dock, and a beach.
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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.
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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