Charlotte (city) Residential

The first quarter of 2022 for the Charlotte Region residential real estate market continued to highlight the strong buyer demand and the lack of available homes for sale. Across the board, Charlotte's housing inventory has continued to shrink, based on 2021's numbers. Homes that are on the market are experiencing record low Days on Market and sellers are getting the asking price or more, for their homes.

The Median Sales Price also jumps up in the Charlotte area and Mecklenburg County, where we see Inventory and Month's Supply take a bigger dip than the city. Between buyer demand and the low inventory, homes priced right for the market are likely to last hours, not days, on the market before going under contract.

Key observations from the first Quarter of 2022 are:

Homes in Charlotte have steadily sold for 100.9% of the asking price in this active seller's market during

Once again, first-quarter sales results saw inventory in the Charlotte area fall under 1 month or less, the lowest supply on record, and unprecedented in recent years.

The shortest average time to have an offer accepted on a home in Charlotte is 22 days, over 19% lower than 2021 results.

In both Charlotte City and Mecklenburg County, home prices continue to rise in double-digit percentages over last year's Q1 results. Charlotte's Average Sales Price is now $411,046, an increase of more than 16%!

the first quarter of 2022. A slight increase on Q1 2021.

A double-digit Median and Average Sales Price increase, a continued drop in inventory, and a slight leveling off of Closed Sales defines much of the Charlotte Region and establishes a baseline for our other markets.