Is homebuying season ‘back on track’ in Charlotte? See how much homes are selling for
After an out-of-the-ordinary month, “peak homebuying season appears to be back on track” in the Charlotte area, according to a new report on the local real estate market.
Home sales jumped 12.3% from April to May in the region, the latest RE/MAX National Housing Report said, “a positive trend for the market after a 7% decline in sales from March to April.”
“The sizable jump in May home sales signals the start of the peak selling season, but lack of inventory remains the biggest challenge for home buyers,” Nick Bailey, RE/MAX President & CEO, said in a statement.
The median home sale price in Charlotte also rose month-over-month, per RE/MAX. But it’s still lower than the white-hot levels seen in summer 2022.
Here’s what to know about the state of the Charlotte housing market:
What are homes selling for in Charlotte?
The median home sale price in the Charlotte area rose 3% from April to May, the most recent data available from RE/MAX, to $398,000.
Despite the month-over-month increase, May’s median was still less than May 2022’s median of $405,000.
And the median list price in Charlotte fell month-over-month, per RE/MAX, by 1.9% to $410,000. That’s the same as the median list price at the same time in 2022.
Houses spent an average of 32 days on the market in Charlotte in May. That’s down 6.3% from April but up 44.5% from May 2022.
Active inventory fell by 2.6% month-over-month but was up 27.6% from a year ago.
Where can you get the best deal on real estate in Charlotte?
Although there are market 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:
