www.LuxuryHomeMarketing.com Home of the CLHMS TM 2024 MARCH CHARLOTTE NORTH CAROLINA
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 2,999 $818,000 4 3 70 112 63% 3,000 - 3,999 $835,000 4 4 103 140 74% 4,000 - 4,999 $1,190,000 5 5 48 114 42% 5,000 - 5,999 $1,525,000 5 5 19 55 35% 6,000 - 6,999 $1,900,000 5 6 5 26 19% 7,000+ $2,550,500 4 7 2 41 5% CHARLOTTE SINGLE - FAMILY HOMES 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 30 15 14 35 30 65 33 33 31 27 12 37 47 37 43 0 1 5 6 5 14 13 10 14 14 23 28 40 37 38 $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
- $899,999
- $799,999
- $749,999 Inventory Sales
INVENTORY VS. SALES
Seller's Market Total Inventory: 489 Total Sales: 248 Total Sales Ratio2 : 51% Luxury Benchmark Price 1: $700,000
$800,000
$750,000
$700,000
LUXURY
| FEBRUARY 2024
MEDIAN DATA REVIEW | FEBRUARY 13 - MONTH LUXURY MARKET TREND 4 Solds Median Sales Price Inventory 407 440 474 534 545 550 567 537 578 578 436 444 489 173 267 281 419 449 330 340 287 283 217 207 161 248 $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 $930,500 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-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 single-family luxury market is a Seller's Market with a 51% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2024. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 192% • The median luxury sales price for single-family homes is $930,500. • The median days on market for February 2024 was 6 days, down from 16 in February 2023. CHARLOTTE SINGLE - FAMILY HOMES CHARLOTTE MARKET SUMMARY | FEBRUARY 2024 VARIANCE: 20 % 407 489 Feb. 2023 Feb. 2024 TOTAL INVENTORY VARIANCE: 43 % 173 248 TOTAL SOLDS VARIANCE: - 6 % $994k $931k SALES PRICE VARIANCE: - 63 % 16 6 DAYS ON MARKET VARIANCE: 0 % 100.00% 100.00% SALE TO LIST PRICE RATIO VARIANCE: 0 % $279 $279 SALE PRICE PER SQFT. Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Luxury Benchmark Price 1: $700,000
$800,000
$700,000
$600,000
CHARLOTTE ATTACHED HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,499 $567,500 2 2 14 16 88% 1,500 - 1,999 $554,945 3 4 24 59 41% 2,000 - 2,499 $655,450 3 3 20 64 31% 2,500 - 2,999 $708,500 3 4 16 27 59% 3,000 - 3,499 $1,387,500 3 4 6 10 60% 3,500+ $1,463,600 4 5 6 10 60% 12 1 1 3 3 1 4 7 1 4 10 12 19 45 63 3 0 0 0 2 3 1 4 2 0 3 5 6 17 40 $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
$900,000
- $899,999
- $799,999
- $699,999 $500,000 - $599,999 LUXURY INVENTORY VS. SALES | FEBRUARY 2024 Inventory Sales Luxury Benchmark Price 1: $500,000 Seller's Market Total Inventory: 186 Total Sales: 86 Total Sales Ratio2 : 46% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
134 182 206 194 198 201 205 214 244 217 177 197 186 60 88 85 82 109 77 110 99 86 62 76 55 86 $615,000 $615,000 $605,000 $610,000 $625,000 $603,800 $628,250 $612,000 $657,770 $604,750 $643,990 $630,000 $622,333 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-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. VARIANCE: 39 % 134 186 VARIANCE: 43 % 60 86 VARIANCE: 1 % $615k $622k SALES PRICE VARIANCE: - 11 % 37 33 DAYS ON MARKET VARIANCE: - 1 % 99.69% 99.10% SALE TO LIST PRICE RATIO VARIANCE: 13 % $289 $328 SALE PRICE PER SQFT. CHARLOTTE MARKET SUMMARY | FEBRUARY 2024 CHARLOTTE ATTACHED HOMES • The attached luxury market is a Seller's Market with a 46% Sales Ratio. • Homes sold for a median of 99.10% of list price in February 2024. • The most active price band is $1,400,000-$1,499,999, where the sales ratio is 300% • The median luxury sales price for attached homes is $622,333. • The median days on market for February 2024 was 33 days, down from 37 in February 2023. Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 Feb. 2023 Feb. 2024 MEDIAN DATA REVIEW | FEBRUARY TOTAL INVENTORY TOTAL SOLDS Luxury Benchmark Price 1: $500,000 13 - MONTH LUXURY MARKET TREND 4 Solds Median Sales Price Inventory