Canopy Realtor® Association Market Updates
Reprinted from March 2025 CRRA Monthly Indicators
U.S. existing-home sales rebounded from the previous month, rising 4.2% to a seasonally adjusted annual rate of 4.26 million units, according to the National Association of REALTORS® (NAR). The forecast from economists polled by Reuters was for sales to fall to a rate of 3.95 million for the month. Purchase activity increased in the South and the West but decreased in the Northeast, while sales in the Midwest remained unchanged from one month earlier.
Heading into March there were 1.24 million properties for sale, a 5.1% increase from the previous month and a 17% jump from one year ago, for a 3.5-month supply at the current sales pace, according to NAR. While mortgage rates have remained in the mid-to-high 6% range, the additional supply appears to have helped bring some buyers out of the woodwork, even as sales prices continue to rise nationwide.
New Listings were up in the Charlotte region by 15.5% to 5,676. Pending Sales increased 15.1% to 4,548. Inventory grew 39.4% to 9,076. Prices moved higher as Median Sales Price was up 2.6% to $395,000. Months Supply of Homes for Sale was up 36.8% to 2.6, indicating that supply increased relative to demand.
A Closer Look
Monthly Average 30-Year Fixed-Rate Mortgage Rates
Residential Closings & Average Sales Price for the entire CMLS Area
A Look at Charlotte's Overall Real Estate Market