Home sales are up in Charlotte. Here’s why and what to expect in local real estate
Home sales jumped in March in the Charlotte area, a sign that the busy spring selling season is kicking into gear, real estate experts say.
And while homes are staying on the market longer than during the white-hot market seen in 2022, housing inventory remains a concern in Charlotte and around the country, according to RE/MAX’s latest National Housing Report.
“Compared to last year, there’s a lot to like about this housing market, including lower prices and less competition for available listings. Although it would be good to see more new listings coming onto the market, the current conditions offer potential for home buyers and sellers alike,” RE/MAX President and CEO Nick Bailey said in a statement. “For those interested in selling, demand for properties remains high, and for buyers entering the market, this spring can be a prime time to make a move.”
Here’s what to know about the state of the Charlotte-area housing market:
‘Selling season’ kicking into gear in Charlotte
Home sales increased from February to March, the most recent data available, by 39.5% in the Charlotte area, RE/MAX’s report said.
In the same time frame, the area’s active inventory fell 4.2%, according to RE/MAX. But active inventory is up 116% from March 2022.
Homes in Charlotte sat on the market for an average of 42 in March, down 9% from February but up 33.8% from a year ago.
Use the interactive map below to explore what the hottest neighborhoods for home listings are in the Charlotte area:
What are homes selling for in Charlotte?
The median home sale price in Charlotte in March, per RE/MAX’s report, was $380,000.
That’s up 3.4% from February’s median price of $367,500 but unchanged from the median home sale price in March 2022.
Where can you get the best home deal in Charlotte?
Although there are trends across the Charlotte region, home values can vary across the area’s many ZIP codes.
Use the interactive map below to explore home values in your neighborhood, or the neighborhood you’re looking to move to:
