Charlotte Real Estate and Homes for Sale June 2024
July 10, 2024
Charlotte Homes For Sale below $500,000
July 16, 2024
NC: Charlotte Real Estate Market Update for June 2024
As Charlotte real estate navigates through 2024, June's data reveals significant trends and shifts. The real estate market continues to be dynamic, with notable changes in key metrics compared to the previous year.
Key Charlotte Real Estate Metrics for June 2024
- New Listings: 1,432 (+3.2% YoY)
- Pending Sales**: 1,161 (+6.7% YoY)
- Closed Sales: 1,063 (-18.8% YoY)
- Median Sales Price: $450,500 (+4.8% YoY)
- Average Sales Price: $624,193 (+8.1% YoY)
- Percent of Original List Price Received: 98.7% (-1.2% YoY)
- List to Close: 73 days (-1.4% YoY)
- Days on Market Until Sale: 25 days (+8.7% YoY)
- Cumulative Days on Market Until Sale: 27 days (+8.0% YoY)
- Average List Price: $603,760 (+7.2% YoY)
- Inventory of Homes for Sale: 2,006 (+45.2% YoY)
- Months Supply of Inventory: 2.0 months (+53.8% YoY)
Year-to-Date Charlotte Real Estate Metrics (Thru June 2024)
- New Listings: 8,272 (+9.1% YoY)
- Pending Sales: 6,763 (-5.0% YoY)
- Closed Sales: 6,108 (-7.0% YoY)
- Median Sales Price: $419,976 (+3.7% YoY)
- Average Sales Price: $580,785 (+9.9% YoY)
- Percent of Original List Price Received: 98.5% (+0.6% YoY)
- List to Close: 80 days (-9.1% YoY)
- Days on Market Until Sale: 32 days (-11.1% YoY)
- Cumulative Days on Market Until Sale: 35 days (-7.9% YoY)
- Average List Price: $606,646 (+6.5% YoY)
Charlotte Real Estate Market Insights
- Increased Inventory: One of the most notable trends is the significant increase in inventory. With a 45.2% rise in homes for sale and a 53.8% increase in months of supply, buyers have more options to choose from compared to last year. This shift could help balance the market, which has been heavily favoring sellers for the past few years.
- Price Growth: Both median and average sales prices have seen substantial growth, indicating strong demand and a healthy market. The median sales price has increased by 4.8%, and the average sales price by 8.1% year-over-year.
- Sales Activity: Despite the increase in listings and inventory, the number of closed sales has decreased by 18.8%. This could be attributed to a variety of factors, including rising interest rates and economic uncertainties affecting buyer confidence.
- Market Speed: Homes are staying on the market slightly longer than last year, with the average days on market until sale rising to 25 days. However, the list-to-close timeframe has improved slightly, indicating efficient closing processes once an offer is accepted.
Tips for Buyers and Sellers
For Buyers:
- Explore New Listings: With more inventory on the market, take advantage of the increased options and find a home that meets your needs.
- Be Prepared: While homes are staying on the market longer, popular properties still move quickly. Having your financing in order will help you act swiftly.
For Sellers:
- Price Competitively: With more homes available, pricing your property correctly is crucial to attract buyers.
- Enhance Your Listing: Ensure your home stands out with high-quality photos, staging, and a strong online presence.
If you're considering selling your home in Charlotte, now is an excellent time to enter the market. Partner with a trusted local realtor of a Charlotte Discount Real Estate Brokerage to maximize your return and ensure a smooth selling process.
Call One Charlotte Realty at 704-670-0000 to list your home for sale for only 1% commission and you choose how much you want to pay the buyers agent, if anything.
Our experienced team of Charlotte Realtors will provide personalized service and expert guidance, helping you navigate the market with confidence.
Stay tuned for more updates and insights on the Charlotte real estate market. Whether you're buying, selling, or just curious about market trends, we’re here to keep you informed and prepared.
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