Charlotte real estate in January 2023 saw home sales drop 37.9% year-over-year, while home prices increased 6.2%, on average. Sales dropped for a 13th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 46 days, on average. The months supply of homes, while increasing, remained below two months at 1.5 months, keeping Charlotte in “home seller territory.” Home affordability continues to suffer.
Charlotte Region real estate in December 2022 saw home sales drop 37.7% year-over-year, while home prices increased 7.3%, on average. Sales dropped for a 12th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 41 days, on average. The months supply of homes, while increasing, remained below two months at 1.6 months, keeping Charlotte in “home seller territory.” Home affordability continues to suffer.
Charlotte Region real estate in November 2022 saw home sales drop 35.9% year-over-year, while home prices increased 8.6%, on average. Sales dropped for an 11th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 34 days, on average. The months supply of homes, while increasing, remained below two months, keeping Charlotte in “home seller territory.” Home affordability is suffering.
Charlotte Region real estate in October 2022 saw home sales drop 29.9% year-over-year, while home prices increased 18.1%, on average. Sales dropped for a 10th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in under one month, on average. The months supply of homes, while increasing, stood at 1.8 months, keeping Charlotte in “home seller territory,” and despite an increase in inventory overall. Home affordability is suffering.
Charlotte Region real estate in September 2022 saw home sales drop 20.8% year-over-year, while home prices increased 16.1%, on average. Sales dropped for an ninth consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 22 days, on average. The months supply of homes, while increasing, stood at 1.6 months, keeping Charlotte in “home seller territory,” despite an increase in inventory overall. Home affordability is suffering.
Charlotte Region real estate in August 2022 saw home sales drop 22% year-over-year, while home prices increased 16.9%, on average. Median home sale prices set a new record. Sales dropped for an eighth consecutive month due to higher home prices, increasing interest rates, and low inventory. Homes sold in 19 days, on average. The months supply of homes, while increasing, stood at 1.5 months, keeping Charlotte in “home seller territory,” and despite an increase in inventory overall.
Charlotte Region real estate in July 2022 saw home sales drop 21.5% year-over-year, while home prices increased 15.4%, on average. Median home sale prices set a new record. Sales dropped for a seventh consecutive month due to higher home prices, increasing interest rates, and low inventory. In July the days on market remained low at 15 days and were two days lower year-over-year. The months supply of homes, while increasing, stood at 1.4 months, keeping Charlotte in “home seller territory,” despite an increase in inventory overall. With a list to sale price ratio of 100.3%, buyers were still willing to purchase a home at a premium price.
Charlotte Region real estate in June 2022 saw home sales drop 13.6% year-over-year, while home prices increased 17.5%, on average. Median home sale prices set a new record. Sales dropped for a sixth consecutive month due to higher home prices, interest rates, and low inventory. Year-over-year, days on market remained flat at 14 days. The months supply of homes stood at 1.1 months, keep Charlotte in “home seller territory,” despite an increase in inventory overall. With a list to sale price ratio of 101.9%, it’s clear buyers are still willing to purchase a home at a premium price.
Charlotte Region real estate market in May 2022 saw home sales drop 7.3% year-over-year and home prices increase 17.3%, on average. Sales dropped for a fifth consecutive month due to higher home prices, interest rates, and lack of inventory. Year-over-year, days on market dropped in May 2022. The months supply of homes and overall inventory were also down year-over-year. All this kept the Charlotte region a home seller’s market in May 2022 with home affordability decreasing 23.0% year-over-year and 22.8% year-to-date.
Charlotte Region real estate market in April 2022 saw home sales drop 10.8% year-over-year and home prices increase 18.7%, on average. Lack of inventory limited sales momentum with demand for homes continuing to outpace the supply of homes. Year-over-year, days on market dropped 23.8% in April 2022. The months supply of homes and overall inventory were also down year-over-year. All this kept the Charlotte region a home seller’s market in April 2022 with home affordability decreasing 22.5% year-over-year and 22.6% year-to-date.
