Carolina Buyer’s Agent Charlotte Real Estate Market Report – May, 2025

According to Canopy Realtors, the Charlotte Region is showing a market in transition with an increased inventory of homes for sale and longer days on market, while prices continue a modest climb. The most significant shift is evident in the Inventory of Homes for Sale, which surged by a remarkable +39.8% to reach 11,011 units. This substantial influx of homes provides buyers with considerably more choice than a year ago and reveals a housing market in a state of notable transition. While still favoring sellers, the market is gradually moving towards a more balanced environment, characterized by increasing inventory, longer marketing times, and a more measured pace of price appreciation. The May 2025 data paints a picture of a Charlotte housing market that is evolving. The significant increase in inventory is a welcome development for buyers, offering more selection and a less frantic pace for decision-making. This added supply is contributing to longer selling times and a slight reduction in the intensity of offers relative to list price.

While the market remains a seller’s market, the shift towards greater balance is undeniable. Affordability challenges, influenced by fluctuating mortgage rates, continue to play a crucial role in buyer behavior, particularly impacting the entry-level segment. Conversely, higher-end price ranges continue to demonstrate robust demand.

Here’s a breakdown with year-over-year comparisons:

Supply and Demand:

• New Listings: 6,287, a +13.6% increase from May 2024.
• Pending Sales: 4,516, a +16.6% increase from May 2024.
• Inventory of Homes for Sale: 11,011, a significant +39.8% increase from May 2024.
• Months Supply of Inventory: 3.1 months, a +34.8% increase from May 2024. This indicates a gradual loosening of tight inventory conditions, moving towards a more balanced market (typically 4-6 months).

Sales Activity:

• Closed Sales: 4,018, a -3.4% decrease from May 2024.
• Median Days on Market Until Sale: 43 days, a +26.5% increase from May 2024. Homes are taking longer to sell.
• Percent of Original List Price Received: 96.6%, a -1.2% decrease from May 2024.

Pricing:

• Median Sales Price: $405,000, a +1.3% increase from May 2024.
• Average Sales Price: $525,220, a +0.6% increase from May 2024.