CHARLOTTE AREA RESIDENTIAL SALES SUMMARY

Summer in our Charlotte market continues the slowing trend of Closed Sales across the region in Q2 Charlotte is expected to see marginal growth in the 3rd quarter, with growth rates ranging from -0.1% to 0.2% per month.

This means that North Carolina's housing market is stabilizing after the red-hot housing market that grew exponentially since 2020 Throughout 2023, home values are increasing in most areas (but far more conservatively than Q1 of this year or late 2022) and inventory is improving. Overall, Charlotte's housing market looks to remain a robust seller's market for the latter part of 2023.

For those looking to sell their homes, it is a good time to do so For buyers, it is essential to act quickly to secure your dream home.

Key observations from the second Quarter of 2023 are:

Homes in the Charlotte region have, on average, sold for 98% of the asking price in this active seller's market during the second quarter of 2023 Down -4 3% on Q2, 2022

Second quarter sales results saw inventory in the Charlotte area drop just over 17% over Q2 2022, with Month's Supply coming in at 1 4, a 6 5% increase

The shortest time to have an offer accepted on a home in Charlotte (on average) is 34 days, over 129% higher than 2022 results!

In Mecklenburg County, home prices continue to rise, with the Median Sales Price increasing 2 8% over last