For Week Ending September 21, 2024
For the third week in September, the Charlotte Region real estate market is continues to thrive as falling interest rates increased borrower demand nationwide. As the number of homes for sale continues to grow in many areas, some agents are reporting that list prices are softening, homes are spending more time on market, and price reductions are becoming more common compared to the same report last year.
In the Charlotte region, new listings dropped slightly from last week from 1186 to 1160, while pending sales increased from 902 last week to 935. Inventory also saw a jump from last week, reaching 9,441 homes.
Although inventory continues to increase, months of supply remains steady at 2.7 and the market remains competitive. Homes are averaging 35 days on the market. Overall, Charlotte’s real estate landscape shows a healthy balance of supply and demand. This trend makes the area attractive for both buyers and sellers.
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