For Week Ending October 26, 2024
In the Charlotte Region real estate market, as the fall season sets in, the normal decline in new listings consequently begins. This week’s listings dropped from 1,020 to 998, while pending sales showed little change, moving from 874 to 876.
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 the last several weeks. Overall, Charlotte’s real estate landscape continues to show a healthy balance of supply and demand. This trend continues to make the area attractive for both buyers and sellers.
Millennials, aged 28 to 43, now currently make up the largest group of homebuyers in the U.S., according to the National Association of REALTORS® 2024 Home Buyers and Sellers Generational Trends Report. They represented 38% of buyers in transactions from July 2022 to June 2023, up from 28% the previous year. In contrast, baby boomers, who led last year with 39% of purchases, fell to second place, accounting for 31% of transactions.
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