Charlotte region luxury home sales improved in September 2021 with an increase in closed sales year-over-year. Inventory and the months supply of single family luxury homes were down, as were average and median days on market. The luxury home market in Charlotte region remains a seller’s market compared with one year ago when it was more of a balanced market based on the months supply of luxury homes.
Charlotte Region’s Luxury Home Market Improves In September 2021
Latest news on Charlotte Region’s luxury housing market in September and what it means for you…
Charlotte Region’s single family luxury homes real estate market remained solid despite a 33.3% year-over-year decline in inventory. This low level of inventory has not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as was 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 were flat, while average sales prices decreased somewhat year-over-year. It’s hard to say if the decrease reflects a reduction in home values versus the price mix of homes sold in September 2021.
Earlier this year 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. Thus far this does not appear to be the case and the luxury market remains a seller’s market. One hears lots of talk that inventory is increasing, yet in the luxury segment of Charlotte region’s housing market new listings were down month-over-month, as well as year-over-year. Inventory also remained relatively flat month-over-month with just two additional homes in September versus August. Median days on market and the months supply of inventory were also flat month-over month and down year-over-year.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region September 2021:
- Homes Sold: 307 in September 2021, up 21.3% compared with September 2020.
- Pending Sales: 307 in September 2021, up 15.8% compared with September 2020.
- New Listings: 351 in September 2021 up 15.5% compared with September 2020.
- Inventory of Homes: down 33.3% to 540 in September 2021 compared with September 2020.
- Months Supply of Homes: down 54.8% with 1.9 months supply compared with 4.2 months supply in September 2020 and 6.5 months supply in September 2019.
- Average Days on Market: 28 days in September 2021 compared with 75 days in September 2020 and 71 days in September 2019.
- Median Days on Market: 6 days in September 2021 versus 20 days in September 2020 and 40 days in September 2019.
- Average Sale Price: down 6.8% at $1,096,583 in September 2021 compared with $1,176,172 in September 2020.
- Median Sale Price: flat at $970,000 in September 2021.
- Median % Of List Price Received: up 2.5% to 100% in September 2021 compared with 97.6% in August 2020.
The most expensive home sold in the Charlotte Region in August 2021 sold for $3,125,000 in historic Myers Park. Situated on .49 acres and built in 2007, the Tudor-style home designed by Greg Perry featured 7,446 square feet of heated living area, 5 bedrooms, 6 full bathrooms, two half bathrooms, chef’s kitchen, numerous recreation rooms and a home office. The outdoor living space featured a spacious screened porch with fireplace.
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MEDIAN SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
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This Charlotte region luxury housing market update for August 2021 is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area luxury residential real estate experts serving Charlotte area luxury home buyers and sellers for 20+ years.
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