Last month, we noted a potential cooling in the Charlotte housing market, with July showing a dip in both median and average sales prices for single-family homes in Mecklenburg County. But as it turns out, that decline may have been just a blip.

In August, the average sales price returned to a positive direction and was up 5% year-over-year, signaling that home prices are still very much on the rise. This kind of bounce suggests that the 2025 market may have simply peaked a bit earlier than it did in 2024, which is not unusual. Regardless, a 5% increase is a healthy number and a strong indicator of continued appreciation.

Even more encouraging for buyers, the Federal Reserve lowered its benchmark rate last week, and mortgage interest rates responded quickly, falling to a new one-year low just weeks prior in anticipation of the cut. This easing of borrowing costs should help relieve some of the pressure buyers have been feeling in a high-price, high-rate environment.

Looking ahead, we’re entering the fall and winter seasons—typically a time when prices soften due to seasonality. But this year, those seasonal dips are paired with lower interest rates, creating a unique window of opportunity. Buyers who act now may find themselves in a favorable position to purchase before prices and rates trend upward again.

In short, while July hinted at a slowdown, August reminded us that Charlotte’s real estate market remains resilient. For buyers and sellers alike, the coming months could offer strategic advantages—whether you’re looking to make a move or simply stay informed.

And as always, here’s a summary of the stats for single family homes in Mecklenburg County in August compared to the previous month and again to the same month last year:

• Home sales are down 7% from last month and even from last year.
• Average sales price is down 1% from last month, but up 5% from last year.
• Median sales price is up 4% from last month and 9% from last year.
• Average price per square foot is down 3% from last month and even with last year.
• Sale to list price ratio at 99% is even with last month and last year.
• Average time on market is up 14% from last month and 42% from last year.
• Pending sales are down 6% from last month, but up 7% from last year.
• Supply is up 2% from last month, but up 12% from last year.
• Mortgage rates at 6.26% are down from last month and about even with last year.
• Average house payment is down 4% from last month and up 1% from last year.

You can always find the detailed stats on our website here.