For Week Ending October 12, 2024
In the Charlotte Region real estate market, new listings have started to decline from last week from 1072 to 1020, while pending sales increased slightly this week from 830 to 874.
Inventory of homes for sale is remaining steady. Months of supply continues to stay at 2.8 and the market remains competitive. Homes are still averaging 39 days on the market, no change from last week. Overall, Charlotte’s real estate landscape continues to show 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.
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