Canopy Realtor® Association Market Updates
Reprinted from February 2025 CRRA Monthly Indicators
U.S. existing-home sales fell for the first time since September 2024, slipping 4.9% month-over-month to a seasonally adjusted annual rate of 4.08 million units, according to the National Association of REALTORS® (NAR), as elevated home prices and higher interest rates continue to impact buyer activity. Despite the drop, sales were up 2% compared to the same period last year, marking the fourth consecutive monthly year-over-year increase.
New Listings were up in the Charlotte region by 4.0 percent to 4,428. Pending Sales increased 2.6 percent to 3,669. Inventory grew 35.9 percent to 8,498.
Prices were stable as Median Sales Price remained flat at $385,000. Months Supply of Homes for Sale was up 33.3 percent to 2.4, indicating that supply increased relative to demand.
The limited number of properties for sale has continued to push home prices higher nationwide. At last measure, the national median existing-home price was $396,900, a 4.8% increase from one year earlier, with prices up in all four regions, according to NAR. Meanwhile, total housing inventory heading into February stood at 1.18 million units, up 3.5% month-over-month and 16.8% year-over-year, for a 3.5-month supply at the current sales pace.
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