May 14, 2025

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. — Home sales across the Charlotte region in April were nearly on pace with last year, dipping just 2.3 percent year-over-year, with 3,686 homes sold, according to data from Canopy MLS. Compared to March 2025, sales rose 4.2 percent, even as buyers continued to navigate higher mortgage rates, rising cost of living, and broader economic uncertainty. This report reflects existing-home sales of single-family homes, condos, and townhomes only.

A Deeper Look at Closed Sales by Price Range

In the Charlotte region, closed sales for single-family homes grew modestly year-over-year, up 2.1 percent overall. The most significant gains continued to occur in the higher-end price segments, particularly the $700,001 and above range, where single-family home sales rose 18.0 percent compared to last year, and the $600,001 to $700,000 bracket, which saw a 15.0 percent increase. The $500,001 to $600,000 range also posted a healthy gain of 8.3 percent, highlighting the ongoing demand for luxury and move-up homes. In contrast, lower price points continued to experience declines, with sales under $300,000 falling, reflecting ongoing affordability challenges and limited supply in the entry-level market.

Closed Sales by Price Range – Townhomes and Condos Only

When looking at only townhome and condo data, the luxury segment continued to stand out, with closed sales in the $700,001 and above range jumping 40.7 percent year-over-year. The $200,001 to $300,000 bracket also performed well, up 21.2 percent, signaling strong demand for mid-range attached housing. However, sales declined in the $300,001 to $400,000 range (-8.6%) and the $600,001 to $700,000 range (-13.6%), suggesting softening demand this past month, in select mid-to-upper segments of the townhome and condo market.

Contract activity, measured by pending sales, rose 9.4 percent year-over-year, with buyers placing just over 4,400 homes under contract in April. However, pending sales dipped 2.9 percent compared to March, potentially signaling softer sales in the months ahead, as pending contracts are a reliable indicator of future closings.

“April's sales data continues to reflect a market in transition—steady, but clearly segmented,” said Charisma Southerland, 2025 president of Canopy Realtor® Association/Canopy MLS and Realtor®/broker with Allen Tate Company. “We’re seeing motivated buyers actively pursuing homes in the mid- to luxury range, while many entry-level buyers remain priced out or paused by higher interest rates. The increase in inventory is a welcome shift, but affordability remains a key factor shaping demand across the region.”

Showing reports, which measure buyer foot traffic and interest, revealed showings in April across the MSA were up slightly, 2.3 percent compared to showing activity in April 2024, with listings averaging 5.1 showings (or potential buyers) per listing. Areas seeing the highest interest this past month were Matthews, where listings averaged 6.9 showings per listing, followed by Waxhaw, where listings averaged 5.8 showings per listing, Kannapolis, where listings averaged 5.8 showings per listing, and Concord, where listings averaged 5.7 showings per listing.

Sellers continued to reflect overall confidence in the market as new listing activity rose 12.6 percent year-over-year, adding 5,933 new listings to the 16-county region. Month-over-month new listing activity was up 4.5 percent, helping to boost both inventory and supply.
Inventory and Supply Increase across the region

At report time, the region showed 9,985 homes for sale, an increase of 42.2 percent from last year and a 40 percent year-over-year increase in supply, pushing supply to 2.8 months, up from two months of supply a year ago. However, much of the shift in supply throughout the region continues in the outlying counties, for example: Cleveland County (4.4 months of supply); Stanly County (3.6 months of supply); Lincoln County (3.4 months of supply); Iredell County (3.3 months of supply); and Rowan County (3.1 months of supply). (See April 2025 data for 30+ communities)

The largest inventory gains occurred in the higher price ranges, with the $500,001 to $600,000 range up 94.6 percent, and the $600,001 to $700,000 range more than doubling, up 121.4 percent compared to last year. Inventory in the $700,001 and above bracket also climbed sharply by 60.0 percent, reflecting improved supply conditions in the mid-to-luxury segments, just ahead of the summer selling season.

The inventory of condos and townhomes rose sharply across nearly all price ranges in April, with overall inventory up 78.6 percent for condos and 61.8 percent for townhomes year-over-year. The most notable increases were in the $300,001 to $400,000 range (up 94.3% for condos and 43.5% for townhomes) and the $400,001 to $500,000 range (up 133.3% for condos and 69.7% for townhomes).

Prices Hold Steady, amidst rising supply

Despite the increase in inventory and supply, home prices continued to reflect stability in April. The median sales price rose 2.3 percent year-over-year to $399,250, while the average sales price increased 4.5 percent to $522,142. The average list price also increased, up 8.3 percent to $590,966. However, the original list price to sales price ratio held somewhat steady, dipping less than a percent (-0.9%) to 96.8 percent, from last year, indicating that while sellers still hold negotiating power, price sensitivity among buyers is growing as the market continues to shift.   

“Buyer interest was steady in April, with showing activity up and sellers responding confidently by listing more homes,” said Southerland. “We’re seeing a welcome boost in inventory, especially in the mid-to-luxury price ranges, which is helping to rebalance the market. Even with more choices, prices have held firm, showing that demand remains strong, even as buyers grow more price-conscious.”

Days on market continued to increase across the region, with list-to-close time, which measures the full selling process from listing to closing, increasing 8.3 percent to 91 days compared to 84 days a year ago in April. Days on market, which tracks how long homes are listed before going under contract, increased 27 percent to 47 days compared to 37 days on market in April 2024.

Mecklenburg County
In April 2025, Mecklenburg County’s housing market showed signs of resilience and expanding opportunity, as both buyer and seller activity increased. Closed sales were up 2.4 percent year-over-year, with 1,431 homes sold, while pending sales—a key indicator of future closings—rose 6.7 percent, suggesting steady demand. New listings pushed higher, rising 16.4 percent, adding 2,126 properties to the market and helping to boost inventory levels, reflecting improved seller confidence during the spring selling season.

Home prices held firm, with the median sales price rising 2.1 percent year-over-year to $455,000 and the average sales price inching up 0.2 percent to $625,490. Despite these modest gains, the percent of original list price received declined slightly to 97.7 percent, down from 99.1 percent a year ago, signaling growing price sensitivity among buyers.

Inventory conditions continued to improve for Mecklenburg County buyers this past month. The number of homes for sale jumped 53.4 percent year-over-year, and the month’s supply of inventory increased from 1.6 to 2.5 months—still well below a balanced market but improved from last year. Homes also spent more time on the market, with days on market rising from 31 to 38 days, suggesting that while demand remains solid, buyers are taking more time to make decisions and have more options to choose from than in recent years.

The City of Charlotte’s housing market in April showed signs of rebalancing as new listings surged 16.0 percent year-over-year, bringing 1,686 homes to market compared to 1,453 in April 2024. This increase in seller activity contributed to a 50.6 percent rise in inventory, with 2,535 homes available for sale, and pushed the month’s supply of inventory up to 2.5, marking a welcome 47.1 percent increase from the previous year, signaling improving opportunities for buyers seeking residence in the region’s core city.  Pending sales were steady, up 8.1 percent, while closed sales remained virtually flat, increasing just 0.2 percent year-over-year.

On the pricing side, the market showed stability with some price softening amidst rising inventory. The median sales price held steady, dipping 1.0 percent to $425,000, down from $429,183 in April 2024, while the average sales price declined by 1.3 percent to $618,125. Year-to-date, however, prices reflect growth, with the average sales price up 5.3 percent and the median price rising 2.4 percent, indicating continued long-term appreciation. The percentage of original list price received dropped to 97.8 percent, down from 99.1 percent last April, signaling growing negotiation power for buyers.

Southerland continued, “Overall, Charlotte’s market in April shows continued improvement, with growing inventory and stable pricing offering potential advantages for both buyers and sellers. Increased seller confidence and steady buyer demand helped drive activity. Though prices held relatively steady, softening slightly in some areas, year-to-date trends still point to an increasingly healthier market. Buyers and sellers alike should ask their agent about Down Payment Resource (DPR), available on more than 83 percent of residential listings in Canopy MLS, helping make homeownership more attainable for many buyers.”

Canopy Realtor^® Association provides monthly reports on residential real estate market activity for the Charlotte region based on data from Canopy MLS. The Charlotte region, which this report is based on, includes 12 counties in North Carolina (Alexander, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly, and Union) and four counties in South Carolina (Chester, Chesterfield, Lancaster and York).

For more residential housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with 2024 Association/Canopy MLS President Charisma Southerland, Realtor®/Broker with Allen Tate Company, please contact Kim Walker.

Canopy Realtor® Association owns and operates Canopy MLS, the region’s primary source for accurate and timely property data in a multicounty service area including the Charlotte MSA, Asheville MSA and Catawba Valley region spanning across North Carolina and South Carolina to outside the Carolinas. Canopy MLS provides the latest technology, tools and analytics that Realtors® utilize to support consumers with their residential real estate transactions.