Charlotte Real Estate Market Update: December 2023

Real estate prices in Charlotte are down month over month, but still up year over year. In this update, I’ll be sharing how the local market is performing and where it’s headed. We’ll take a look at the latest data on prices, the sales price to list price ratio, the number of days on market and the number of homes for sale. So let’s get started. 

Charlotte Real Estate Prices

Let’s start with prices. In Charlotte, the median sales price is down to $400,000 from $415,000 last month. Year over year, we are still up about 1.5% though. 

Charlotte Sales Price to List Price Ratio

Next, how much are sellers discounting asking prices? The sales price to list price ratio is 100% for the 9th straight month. We’re below last year’s average of just under 101%.

Charlotte Days on Market

Next, if you list a property, how long does it take to go into contract? The answer is 9 days, slightly higher than 8 days last month. Does that make it a sellers or buyers market? 9 days is definitely a sellers market and the average over the past 10 years is 18 days. 

Number of Homes For Sale in Charlotte

Finally, how many houses are for sale in Charlotte? 3,144 homes are currently on the market slightly down from 3,193. Inventory continues to be historically low and is 26% below the 5 year average.

Charlotte Real Estate Market Summary

Overall December was a positive month for real estate in Charlotte. The sales price to list price ratio is still strong at 100%, the number of days on market is down and active homes for sale are low. The only negative is the median sales price is down. Still a very strong market heading into the new year. If you’re interested in buying or selling real estate in Charlotte, we can help! Call me directly at 980-240-9807 or email me at justin@charlottehomesrealty.com.