Seasonality is in full force here in the Charlotte real estate market.

January single family home sales in Mecklenburg County came in at 545 units, which is about a 40 percent drop from December. That number is also down roughly 14 percent compared to January of last year, though it is very much in line with what we saw in January 2024 and January 2023.

This slowdown is not unusual. Historically, the number of home sales in the Charlotte market tends to hit its low point in the first couple months of the year. Add in a string of cold weather, ice, and snowstorms, and it is no surprise that showing activity slowed even more than usual.

The encouraging part is that prices are holding up. Even with fewer homes selling, the average sales price in January was still up about 4 percent from last year.

Now here we are in late February. The days are getting longer, the grass is starting to turn green, and as spring shows signs of new growth, it typically brings new listings and new buyers back into the market.

If you or someone you know is thinking about getting in on the action this spring, give us a call. We are always happy to help you think through your options.

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 40% from last month and 14% from last year.
• Average sales price is even from last month, but up 4% from last year.
• Median sales price is down 4% from last month, but up 4% from last year.
• Average price per square foot is up 1% from last month and last year.
• Sale to list price ratio at 98% is even from last month and last year.
• Average time on market is up 5% from last month and 11% from last year.
• Pending sales are up 18% from last month, but down 7% from last year.
• Supply is up 4% from last month and up 19% from last year.
• Mortgage rates at 6.09% are about even with last month and down from 6.85% last year.
• Average house payment is even from last month and down 4% from last year.

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