As we move through November, the seasonal slowdown in home prices that many expect hasn’t materialized. In fact, prices remain steady—and continue to climb year over year.

In Mecklenburg County, the median price for a single-family home in October was $500,000, up 2% compared to last year. While the double-digit gains of the early 2020s are behind us, the trend is clear: prices are still rising.

Affordability and Interest Rates

Affordability is a hot topic in today’s political and economic conversations. The good news? According to Dr. Lawrence Yun, Chief Economist at the National Association of Realtors, mortgage rates are projected to decline modestly. Lower rates mean lower monthly payments, which could ease the financial burden for buyers.

Looking ahead, Dr. Yun also forecasts that home prices will rise by about 4% nationally in 2026, driven by steady demand and ongoing inventory shortages.

Real Estate vs. Timing the Market

Over lunch today, I spoke with a friend in the tech industry about investing. Tech stocks often outperform the broader market, but they also carry more risk—when they dip, they dip hard. Timing the stock market is notoriously difficult, and most experts agree that buy-and-hold is the smarter strategy.

Real estate works the same way. It’s a long-term asset that historically appreciates over time. Waiting to buy rarely pays off. The home you’re considering today will almost certainly cost more next year.

Bottom Line

If you’re thinking about buying, now is the time to act. Prices are holding firm, interest rates may ease, and demand isn’t slowing down. Real estate remains one of the most reliable ways to build wealth—don’t let hesitation cost you.

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

• Home sales are even from last month and up 7% from last year.
• Average sales price is up 1% from last month and 3% from last year.
• Median sales price is up 1% from last month and 2% from last year.
• Average price per square foot is down 1% from last month and last year.
• Sale to list price ratio at 98% is down slightly from last month and last year.
• Average time on market is up 11% from last month and 50% from last year.
• Pending sales are down 3% from last month, but up 3% from last year.
• Supply is down 7% from last month, but up 22% from last year.
• Mortgage rates at 6.24% are about even from last month, but down from 6.78% last year.
• Average house payment is even with last month, but down 2% from last year.

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