The Charlotte real estate market is off to a promising start in 2025, with key indicators showing strength despite typical seasonal slowdowns. Let’s break down the latest trends in single-family home sales across Mecklenburg County.
Home Sales Are Up Year-Over-Year
According to Canopy MLS, home sales in Mecklenburg County have slowed compared to December, which is expected given seasonal trends. However, sales are up 14% from last year, signaling a much stronger market compared to early 2024. This increase in activity suggests renewed confidence among buyers, setting the stage for an active spring market.
Home Prices Are Climbing
While January and February typically see the lowest average sales prices of the year, January 2025 showed notable price growth:
- Average sales price increased 4% from December and 14% year-over-year
- Median sales price rose 5% from last year
Part of this price growth may be attributed to a few high-end sales in January, including three homes selling over $5 million and a top sale of $6.8 million. However, even when factoring out luxury listings, the data points to rising home values. If history repeats itself and early-year prices represent the low point, 2025 could be on track for another record-breaking year.
Inventory Is Increasing but Still a Seller’s Market
Housing inventory has increased from 1 month of supply in early 2024 to 1.73 months today. While that’s a notable jump, it’s still far from a balanced market (which typically requires 4-6 months of inventory). Sellers continue to have the advantage, though buyers may feel a bit of relief with slightly more options available.
What About Market Slowdowns?
Some sellers and agents have expressed concerns about slower buyer activity and rising inventory, but that doesn’t appear to be the case in Charlotte. It’s also important to remember that spring is the peak home-buying season, with March through May historically bringing the most market activity.
For buyers, now may be the time to act before prices rise further. For sellers, demand remains strong, and the upcoming busy season could bring even more competition.
Bottom Line
Charlotte’s real estate market remains strong, with rising prices, increased sales, and a competitive landscape for sellers. If early 2025 trends continue, we could be looking at another standout year for home values in Mecklenburg County.
Thinking about buying or selling? Reach out to discuss your real estate goals and how to navigate this dynamic market.
And as always, here’s a summary of the stats for single family homes in Mecklenburg County in January compared to the previous month and again to the same month last year:
- Home sales are down 27% from last month but up 14% from last year.
- Average sales price is up 4% from last month and 14% from last year.
- Median sales price is down 5% from last month, but up 5% from last year.
- Average price per square foot is up 2% from last month and 7% from last year.
- Sale to list price ratio at 98% is down from 99% last month and last year.
- Average time on market is up 8% from last month and 43% from last year.
- Pending sales are up 25% from last month, but down 9% from last year.
- Supply is up 5% from last month and 53% from last year.
- Mortgage rates at 6.85% are down from 7.04% last month, but up from 6.77% last year.
- Average house payment is down 1% from last month, but up 4% from last year.
You can always find the detailed stats on our website here.
** Data from Canopy MLS