Charlotte Real Estate Market Update: June 2023

Are you curious about the latest updates on the Charlotte real estate market? Well, you’ve come to the right place! In this update, I’ll provide you with the most important numbers that will give you a clear picture of how the market is performing in June 2023. 

Charlotte Real Estate Prices

Let’s start with sales prices. In Charlotte, the median sales price is currently $415,000, up from $405,000 last month and $395,000 the month before. This marks the third consecutive month of price increases, bringing us close to the peak price of $420,000 in June of last year.

Charlotte Sales Price to List Price Ratio

Now let’s take a look at the sales price to list price ratio. Great news! We’re still at 100% for the third straight month! This means that sellers are achieving their asking prices, indicating a strong market.

Charlotte Days on Market

Next we have the average days on market, which tells us how long it takes to sell a house in Charlotte. Currently, we’re down to just 6 days, a decrease from 7 days last month and 25 days in January. This is a positive trend and reflects a fast-paced market.

Number of Homes For Sale in Charlotte

Let’s see the number of active homes for sale. Currently, there are 3,274 homes available, similar to the 3,238 homes last month. While we would like to see an increase in inventory to provide more choices for buyers, the low number of days on the market indicates high demand.

Number of Price Reductions in Charlotte

Lastly, there were 118 price reductions over the past 7 days, down from 136 a month ago. This decrease in price reductions is another positive sign for prices going forward as price reductions are a leading indicator.

Charlotte Real Estate Market Summary

To summarize, another terrific month for the Charlotte real estate market. Prices continue to rise, the sales price to list price ratio remains strong at 100%, days on market have decreased to just 6 days, price reductions are down, and the number of active homes for sale is stable. Let’s see how things develop over the next 30 days. 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.