As summer arrives, so does a report that the Charlotte real estate market started winding down by bucking a common seasonal trend.
Home sales in the Charlotte area fell 7% from March to April, per the latest National Housing Report from RE/MAX. This was true despite sales typically increasing every month from February to June — a peak home-buying season.
And home sales overall are also down 21.9% year-over-year in the metro area, RE/MAX said.
“The data tells a story, but it’s just one side of the story. Sales may be down across the U.S. as move-up buyers, who like their current mortgage rate, choose to stay in their homes,” RE/MAX President and CEO Nick Bailey said in a statement. “But first-time homebuyers are active and those entering the market have an edge as sellers are negotiating more and giving buyers a chance.”
Here’s what to know about the state of the Charlotte housing market at the start of summer:
What are homes selling for in Charlotte?
The median home sale price in Greater Charlotte as of April, the most recent data available, was $386,409, per RE/MAX’s report.
That’s up 1.7% from March’s median but down 1.9% from April 2022.
The median listing price for homes in the area was $417,943 in April, up 4.6% from March and 4% from April 2022, RE/MAX’s data shows.
Properties spent an average of 34 days on the market in April, down from March but up 30.1% from a year ago.
And the region’s active inventory ticked up from March to April, by 2.6%.
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: