www.LuxuryHomeMarketing.com CHARLOTTE NORTH CAROLINA Home of the CLHMS TM 2024 FEBRUARY
24 19 13 34 23 54 25 32 27 23 15 37 42 33 43 2 1 1 4 3 12 7 11 8 10 12 23 29 14 24 $4,500,000+ $3,700,000 - $4,499,999 $3,100,000 - $3,699,999 $2,500,000 - $3,099,999 $2,100,000 - $2,499,999 $1,700,000 - $2,099,999 $1,500,000 - $1,699,999 $1,300,000 - $1,499,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $900,000 - $999,999 $800,000 - $899,999 $750,000 - $799,999 $700,000 - $749,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $843,125 4 3 44 97 45% 3,000 - 3,999 $865,000 4 4 52 135 39% 4,000 - 4,999 $1,116,000 4 4 32 90 36% 5,000 - 5,999 $1,300,000 5 5 21 64 33% 6,000 - 6,999 $2,884,900 5 5 7 20 35% 7,000+ $2,400,000 6 7 5 37 14%
SINGLE - FAMILY HOMES LUXURY INVENTORY VS. SALES | JANUARY 2024 Luxury Benchmark Price 1: $700,000 Seller's Market 444 Total Inventory: 161 Total Sales: 36% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
CHARLOTTE
MEDIAN DATA REVIEW | JANUARY 13 - MONTH LUXURY MARKET TREND 4 Solds Median Sales Price Inventory 467 407 440 474 534 545 550 567 537 578 578 436 444 126 173 267 281 419 449 330 340 287 283 217 207 161 $870,000 $993,653 $925,000 $985,000 $975,000 $956,000 $945,000 $965,000 $989,900 $900,000 $940,000 $1,000,000 $980,000 $980,000 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. • The Charlotte single-family luxury market is a Seller's Market with a 36% Sales Ratio. • Homes sold for a median of 98.41% of list price in January 2024. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 80% • The median luxury sales price for single-family homes is $980,000. • The median days on market for January 2024 was 25 days, up from 20 in January 2023. CHARLOTTE SINGLE - FAMILY HOMES CHARLOTTE MARKET SUMMARY | JANUARY 2024 VARIANCE: - 5 % 467 444 Jan. 2023 Jan. 2024 TOTAL INVENTORY VARIANCE: 28 % 126 161 TOTAL SOLDS VARIANCE: 13 % $870k $980k SALES PRICE VARIANCE: 25 % 20 25 DAYS ON MARKET VARIANCE: 0 % 97.97% 98.41% SALE TO LIST PRICE RATIO VARIANCE: 11 % $263 $292 SALE PRICE PER SQFT. Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024
$900,000
$500,000
11 1 2 8 1 5 5 5 5 5 6 12 14 37 80 1 0 0 0 0 0 1 1 1 0 2 2 7 15 25 $1,900,000+ $1,800,000 - $1,899,999 $1,700,000 - $1,799,999 $1,600,000 - $1,699,999 $1,500,000 - $1,599,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999
- $999,999
- $899,999
- $799,999
$800,000
$700,000
$699,999
$600,000 -
$599,999
ATTACHED HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,499 $568,000 3 2 8 23 35% 1,500 - 1,999 $550,000 3 3 17 69 25% 2,000 - 2,499 $662,450 3 3 14 54 26% 2,500 - 2,999 $630,460 4 4 10 21 48% 3,000 - 3,499 $862,500 3 4 3 11 27% 3,500+ $730,000 4 4 3 19 16%
INVENTORY
Luxury Benchmark Price 1: $500,000 Seller's Market 197 Total Inventory: 55 Total Sales: 28% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
-
Inventory Sales CHARLOTTE
LUXURY
VS. SALES | JANUARY 2024
149 134 182 206 194 198 201 205 214 244 217 177 197 45 60 88 85 82 109 77 110 99 86 62 76 55 $582,190 $615,000 $615,000 $605,000 $610,000 $625,000 $603,800 $628,250 $612,000 $657,770 $604,750 $643,990 $630,000 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Solds Sale Price Inventory 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. 13 - MONTH LUXURY MARKET TREND 4 VARIANCE: 32 % 149 197 VARIANCE: 22 % 45 55 VARIANCE: 8 % $582k $630k SALES PRICE VARIANCE: 73 % 26 45 DAYS ON MARKET VARIANCE: 1 % 98.20% 99.23% SALE TO LIST PRICE RATIO VARIANCE: 4 % $299 $310 SALE PRICE PER SQFT. CHARLOTTE MARKET SUMMARY | JANUARY 2024 CHARLOTTE ATTACHED HOMES • The Charlotte attached luxury market is a Seller's Market with a 28% Sales Ratio. • Homes sold for a median of 99.23% of list price in January 2024. • The most active price band is $700,000-$799,999, where the sales ratio is 50% • The median luxury sales price for attached homes is $630,000. • The median days on market for January 2024 was 45 days, up from 26 in January 2023. Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 Jan. 2023 Jan. 2024 MEDIAN DATA REVIEW | JANUARY TOTAL INVENTORY TOTAL SOLDS