For Week Ending October 5, 2024
In the Charlotte Region real estate market, new listings increased slightly from last week from 1046 to 1072, pending sales also increased slightly this week from 818 to 830. Inventory continues to increase again this week from 9,554 to 9,571 homes.
Inventory of homes for sale is beginning to level out. Months of supply also increased slightly from 2.7 to 2.8 and the market remains competitive. Homes are averaging 39 days on the market, a slight increase from last week. 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.
The National Association of REALTORS® 2023 report shows that last year, buyers moved a median distance of 20 miles to their new home, down from 50 miles the year before. This is closer to the old average of 15 miles. In the survey, 60% of buyers said the neighborhood’s quality was the most important reason for their move. About 45% said being near friends and family was key, and 39% cared most about housing costs.
Click the link below to download the full report in pdf format. Feel free to share these Reports with others. I only ask that you disclose Polaris Appraisals, LLC and Canopy Realtor® Association as the source of the Reports.
