See how much Charlotte homes are currently selling for now after market prices dip

Home sales in the Charlotte area ticked up for the first time in months in February and home prices are “down slightly” from this time last year, according to the latest report from a national real estate firm.

“Home sales in Greater Charlotte are up 23.1% month-over-month, ending a five-month streak of declining home sales month-over-month,” RE/MAX said in its monthly housing report, “an encouraging sign for the local housing market.”

But things are still not perfect in the market, RE/MAX President and CEO Nick Bailey noted.

“Prices have steadied, and demand is strong, but the lack of available, affordable homes remains a challenge,” he said in a statement. “Mortgage rates are top of mind for many buyers, and as they move up or down, sales activity should generally follow suit. That’s a big factor to watch as we move into the spring.”

Here’s what to know about the state of the Charlotte real estate market ahead of the peak selling season:

Median home sale price in Charlotte

The median home sale price in the Charlotte area as of February was $367,500, according to RE/MAX.

That’s down 4.5% from January and 0.7% from February 2022.

Nationally, RE/MAX put the median sales price in February at $385,000, an increase of 0.6% from January and “ending a seven-month streak of price declines since the peak of $426,000 in June 2022.”

How many homes are for sale in Charlotte?

Charlotte’s “active inventory” fell 14.2% from January to February, from 4,795 homes to 4,116.

Inventory “remains historically low with less than a one-month supply,” RE/MAX’s statement said.

But, February’s figure was up 131.8% from February 2022, RE/MAX’s report noted.

How long are homes staying on the market in Charlotte?

Homes for sale in Charlotte are sitting on the market for an average of 46 days as of February, per RE/MAX’s report.

That’s up from an average of 34 days in February 2022, a 36.2% increase, and down slightly from January’s average of 49 days.

February’s local average was just one day longer than the national average for days on the market of 45 days.