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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.
