Q4MarketReport &AreaResults
Prepared for Marion, McDowell & Burke Counties, and all markets we serve.
Dear Friends and Neighbors,
As we close out 2024 and move into 2025, we ’ ve prepared our Q4 Annual Market Report for Marion, Burke, and McDowell Counties and Asheville's mountains region. In this edition, we reflect on the challenges and triumphs of this past year. Hurricane Helene’s impact on our community was profound, but the resilience, kindness, and strength of our neighbors continue to inspire us
The impact of Hurricane Helene on Western North Carolina reminded us of the importance of standing together in times of need. At ERA Live Moore, we have been deeply committed to supporting the recovery efforts in Marion, Asheville, and the surrounding areas. From fundraising to providing cold-weather essentials, our team and our partners have worked hard to make a difference We invite you to join us in continuing to support these communities by contributing to local charitable organizations and supporting local businesses Visit us on social media to see additional ways to get involved
2024 Real Estate Market Highlights: A Year of Balance and Opportunity. Western
North Carolina’s real estate market demonstrated resilience and adaptability throughout 2024 In Marion and surrounding areas, the market showed signs of healthy normalization, with increasing inventory levels providing buyers with more choices Sellers, in turn, adjusted to a more competitive environment by focusing on strategic pricing and presenting their properties in the best light While demand remained strong for homes in desirable neighborhoods and mountain retreats, price appreciation began to moderate, offering buyers and sellers a more balanced and sustainable market landscape after several years of rapid growth
Looking Ahead to 2025: Optimism and Opportunity.
As we step into 2025, we anticipate a year filled with opportunities for buyers and sellers alike For buyers, improved inventory and stabilizing mortgage rates will create a more favorable environment for finding the right home.
For sellers, the sustained demand for homes in North Carolina’s key markets fueled by economic growth and continued in-migration will present significant opportunities, especially for properties that are wellprepared and competitively priced.
Whether you ’ re buying your first home, upgrading to fit your growing needs, or preparing to sell, our experienced REALTORS® are here to guide you every step of the way With a deep understanding of market trends and a commitment to delivering exceptional results, we are proud to be your trusted partner in real estate
Thank You for a Remarkable Year. As we reflect on 2024, we are grateful for the trust and partnership of our clients, colleagues, and community members Together, we ’ ve achieved incredible milestones and navigated an evolving market with success and confidence Looking ahead to 2025, we are excited to continue helping you achieve your real estate goals and supporting the communities that make North Carolina such a remarkable place to live.
On behalf of all of us at ERA Live Moore, we thank you for choosing us as your partner in real estate. We wish you a happy and prosperous New Year and look forward to continuing to serve you throughout 2025.
Warmest regards,
Jacque Mentink & Tami Newman Brokers-In-Charge ERA Live Moore Marion,
NC
McDowell County RESIDENTIAL
SALES SUMMARY
In Q4 2024, McDowell County continues to showcase its natural beauty and outdoor attractions. Quaint shops line the streets from the market town of Marion to the charming country town of Old Fort. The region is now focused on recovery efforts following the impact of Hurricane Helene, which disrupted local communities and businesses. Despite these challenges, McDowell and neighboring Burke Counties remain among the most affordable housing markets in the state, second only to Wilkes County, offering opportunities for both residents and investors as recovery progresses
Burke County
Burke County, nestled in the foothills of North Carolina's Blue Ridge Mountains, continues to draw visitors with its scenic attractions, including Linville Gorge, the Fonta Flora State Trail, and portions of the Pisgah National Forest. The attractive market town of Morganton offers a blend of laid-back living and small-town charm. The county is navigating the recovery process in the aftermath of Hurricane Helene, which disrupted local life and tourism. Burke County's housing market continues to attract families and professionals, providing stability and a sense of community in this picturesque region
CHARLOTTE AREA
The Charlotte region’s real estate market ended 2024 on a steady note, with median and average sales prices continuing to rise and inventory levels increasing. Closed sales remained stable, signaling a transition toward a more balanced market after several years of rapid growth. This shift provided buyers with more options while encouraging sellers to adjust their strategies in a competitive yet steady environment. Across the region, neighborhoods offering desirable amenities, proximity to employment hubs, and strong school systems remained in high demand.
Q4 2024 Market results:
Median and Average Sales Prices: The Charlotte region saw year-over-year increases in both, highlighting sustained demand across the market.
Inventory Growth: Mecklenburg County experienced a sizable surge in inventory, reflecting a 10% year-over-year increase, giving buyers more choices than in previous quarters.
Closed Sales Trends: Closed sales remained stable overall but saw a slight dip in Mecklenburg County, reinforcing a more balanced market environment.
Cabarrus County Popularity: Cabarrus County, home to towns like Concord and Kannapolis, saw a rise in average sales prices and continued growth in buyer interest.
Union County’s Appeal: Waxhaw in Union County emerged as a key growth area, with increasing average sales prices and sustained demand for its small-town charm and proximity to Charlotte.
CHARLOTTE REGION
RESIDENTIAL SALES SUMMARY
Median and Average Sales Price saw an increase, along with surge in Inventory, while Closed Sales also rose This activity defined much of the Charlotte Region and established a baseline for our other markets
The Median Sales Price in Q4 2024 for a single family home in Charlotte was $390,000 for a year over year increase of 4%
As of January 2025 the Average Month's Rent in Charlotte for a 2 bedroom was $1,910
Charlotte Occupied Housing Units
53% of homes are owner-occupied households and 47% are renter-occupied households
The Median Sales Price in Q4 2024 for a single family home in Mecklenburg County was $445,000 for a year over year increase of 5.9%
MECKLENBURG CO.
RESIDENTIAL SALES SUMMARY
Charlotte's home county shows an increase in Median and Average Sales Price year-on-year, with a surge in inventory and rise in Closed Sales that closely tracks Charlotte. The county, once a respite for buyers seeking affordability, now has a higher Average Sales Price than the Charlotte Region.
CHARLOTTE-AREA COUNTIES
RESIDENTIAL SALES SUMMARY
Cabarrus County is one of Charlotte's largest neighboring counties and home to the county seat of Concord and the pretty towns of Mt. Pleasant, Midland, & Kannapolis. Union County features the charming and in-demand town of Waxhaw–growing in both popularity and Increasing in Average Sales Price
Cabarrus Co.
Union Co.
CHARLOTTE-AREA COUNTIES,
RESIDENTIAL SALES SUMMARY
The major metro area surrounding Charlotte includes seven different counties, each with its distinctive towns, cities, and townships. Charlotte’s surrounding counties provide greater inventory at various price points with something for everyone- from charming rural communities to vibrant market towns and commercial areas.
York Co.
Lancaster Co.
THE TRIAD | WINSTON SALEM
RESIDENTIAL SALES SUMMARY
In Q4 of 2024, the Median Sales Price in Winston-Salem, NC was $300,000, trending up year-over-year by 9.1%. This laid-back city poised for continued growth is located in Forsyth County in the north-central part of North Carolina. The metro area lies along the Carolina Core in the heart of North Carolina, a 120+ mile stretch running between Winston-Salem, Fayetteville, Greensboro, & High Point. The Triad's continued big draw? Affordability!
THE TRIAD | GREENSBORO
RESIDENTIAL SALES SUMMARY
U.S. News and World Reports ranked Greensboro #94 in the nation for Best Places to Live and #71 in Best Places to Retire. Part of the Piedmont Triad, with a low cost of living and a Q4 2024 Median Sales Price of $310,000, it's one of North Carolina's more affordable metro areas. Inventory in Greensboro has been on the rise, with an increase in new listings of 16% year-overyear.
THE TRIAD | HIGH POINT
RESIDENTIAL SALES SUMMARY
High Point is located alongside Greensboro and Winston-Salem in the Piedmont Triad region of North Carolina, the nation’s 33rd largest metro area with a population exceeding 1 7 million Home of High Point University and the famous annual High Point Market, the world's largest home furnishings trade show High Point offers outstanding value for homebuyers, while sellers can expect to receive 97 5% of List Price
THE TRIAD | WILKES COUNTY
RESIDENTIAL SALES SUMMARY
Wilkes County is widely known for its county seat, Wilkesboro, and its largest town, North Wilkesboro The area is widely known for MerleFest, an annual "traditional plus" music festival held in Wilkesboro each spring. Wilkesboro home-buyers enjoy a relatively low sales price compared to larger metro areas in North Carolina and an increase in the availability of homes on the market for buyers seeking value and proximity to Winston Salem
ASHEVILLE RESIDENTIAL SALES SUMMARY
Asheville barely moved the meter on Average and Median Sales Price increases, while Month's Supply rose a considerable 24 9% Not surprisingly, Asheville’s Closed Sales have dropped more than 19% on Q4 2023 figures Expect prices to stabilize through a recovery-focused 2025 and watch for an improvement on Days on the Market
Asheville (Region)
The pastoral setting of Buncombe County, Asheville's home county, saw its Q4 Average Sales Price decrease slightly. On average, homes in Buncombe County are on the market for 55 days. While Buncombe County offers a considerable selection and opportunities for first-time buyers, its new developments and luxury communities have put upward pressure on home prices, often outpacing Asheville.
RALEIGH & TRIANGLE AREA
RESIDENTIAL SALES SUMMARY
The Raleigh real estate market continued its upward trajectory in Q4 2024, with home values reaching new heights. The average sales price climbed to $618,556, reflecting a 13% yearover-year increase from 2023. Inventory levels also rose, offering buyers more options, though homes remained in high demand. These trends highlight Raleigh’s position as one of the Triangle's most competitive and desirable markets, with strong economic drivers and growing interest from local and relocating buyers.
In Durham, the market demonstrated balance and stability despite fluctuations in prices. Average sales prices dipped slightly by 1.1% compared to 2023, offering potential opportunities for buyers in a historically competitive market. Sellers, however, benefited from faster transactions, as days on the market decreased by an impressive 30.8%. These metrics underscore Durham’s continued appeal, with its blend of urban charm and vibrant growth.
As we move into 2025, the Triangle Region offers a promising environment for buyers and sellers alike. Buyers can expect more opportunities as inventory grows. At the same time, sellers will continue to benefit from strong demand, particularly for homes in well-connected neighborhoods with access to amenities and job hubs. With Raleigh and Durham thriving as dynamic economic and cultural centers, the region remains a top destination for real estate investment. Our experienced REALTORS® are here to help you confidently navigate this everevolving market.
THE TRIANGLE AREA | RALEIGH
RESIDENTIAL SALES SUMMARY
Raleigh’s real estate market continues its forward momentum, with sales prices at record highs. Home values have been rising marginally, pushing the Average Sales Price of Raleigh homes to $618,556, which is up 13% on 2023 results for the same period, indicating an upward trend in pricing. This marks another month in Raleigh with increased monthly sales and a rise in inventory of available homes for sale.
THE TRIANGLE AREA | DURHAM
RESIDENTIAL SALES SUMMARY
Triangle Area real estate markets remain active, with Durham and Wake County areas showing particular demand. That's positive news for sellers, for now. For buyers, increased inventory will maintain balance in this highly competitive market. Sellers will be happy to see Average Sales Prices increase by more than 12% on 2023's figures and Days on Market down over 30%!
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Y E A R I N R E V I E W
a s e l e c t i o n o f i m a g e s
uccess Top Producing Brokers | REALTORS® in outstanding individuals at Fuel, our ERA National t Fuel for our in-person guests; ERA Distinctive Properties Sapphire Finalist, Bob Bunzey and Tami Newman, ERA Leaders Circle honoree We celebrated Top 1% Worldwide ERA agent and Leaders Circle honoree, Monte Grandon and recognized all our Circle of Success honorees for the year.
ERA Live Moore Training and Education in 2024
ERA Live Moore Team Gatherings: Charlotte FC versus Orlando City at Bank of Americal Stadium
It was a year of adjusting to new changes and guidelines as a result of the NAR legal settlement. Our agents are expertly versed in all areas of the real estate legal landscape thanks to our outstanding Brokers-In-Charge and ERA Live Moore and Canopy MLS leadership
Community is key to all we do and 2024 was no different We worked with our community partners and organizations in need.
We celebrated and honored staff In 2024 we recognized Relocation team member Tricia Hodge, with a retirement party at Bentley’s in Charlotte.
Footprints of the Season Benefit Gala. ERA
Live Moore was honored to be a Champion Sponsor of this event, supporting Note in the Pocket by raising more than $300,000!
Our Fall Sales Rally at the Charlotte Speedway Club gathered agents across ERA Live Moore, to recognize our sales leaders and focus on our theme of Thrive in 2025.
In September 2024, our community giving efforts were called to action across to aid the recovery after Hurricane Helene, in Western North Carolina
Raising mover $75k in assistance and dedicating over 1,000 hours of volunteering service, our agents were inspired to give their time and resources in response to our company leadership’s generous response in the first days of the hurricane.
WE EMPOWER DREAMS THROUGH REAL ESTATE
