Mike Hege's Market Report

Charlotte, NC

Single-Family Homes

Pridemore Team at Compass | 704-491-9445 | mike.hege@compass.com



Charlotte, NC

Mon Jun 24 2024
This week the median list price for Charlotte, NC is $480,000 with the market action index hovering around 47. This is less than last month's market action index of 48. Inventory has increased to 1,229. Click here to stay informed with the Charlotte market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Charlotte, NC

Mon Jun 24 2024
This week the median list price for Charlotte, NC is $480,000 with the market action index hovering around 47. This is less than last month's market action index of 48. Inventory has increased to 1,229. Click here to stay informed with the Charlotte market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Charlotte market.
Median List Price $480,000
Median Price of New Listings $465,000
Per Square Foot $256
Average Days on Market 68
Median Days on Market 35
Price Decreased 44%
Price Increased 7%
Relisted 4%
Inventory 1,229
Median Rent
Market Action 47
Strong Seller's Market

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,500,000 4,096 0.25 - 0.5 acre 5 4 18 38 30 42
$599,900 2,400 0.25 - 0.5 acre 4 2.5 22 61 42 28
$425,000 1,934 8,000 - 10,000 sqft 3 2.5 20 50 36 28
$331,375 1,344 8,000 - 10,000 sqft 3 2 38 58 45 42