June 25, 2026
Contact: Kim Walker, 704-940-3149

Buyer demand remained steady in May as inventory rose 6.2 percent year over year, giving consumers more choices while keeping home prices stable across the region.

CHARLOTTE, N.C. —  According to data from Canopy MLS, closed sales in the Charlotte region remained relatively stable in May, declining just 1.0 percent year over year as 4,157 homes sold during the month. Compared to April 2026, closed sales increased 10.7 percent, reflecting the typical seasonal uptick in market activity. Contract activity continued to signal steady buyer demand, with 4,515 homes going under contract in May, an increase of 7.9 percent compared to the same month last year. While pending sales eased 6.1 percent from April, buyer interest remained resilient despite ongoing affordability challenges, higher household costs, and mortgage rates that hovered in the mid-6 percent range throughout the month. Data in this press release is sourced from Canopy MLS, a subsidiary corporation of the Canopy Realtor® Association, and reflects existing-home sales of single-family homes, condos, and townhomes only.

New listings declined 3.7 percent year over year in May, with 6,144 properties entering the market, and were down 5.2 percent compared to April. The decrease marks the first year-over-year decline in new listing activity since November 2025, suggesting some sellers may be taking a more measured approach to entering the market. Despite fewer new listings, inventory continued to build, rising 6.2 percent year over year to 12,619 homes for sale at report time, the highest level of inventory for the region since September 2016. The region ended May with a 3.4-month supply of inventory, up from 3.2 months in April, providing buyers with more options while remaining well below the six-month benchmark typically associated with a balanced housing market. 

“Charlotte’s housing market continues to move toward a healthier balance,” said Joan Goode, president of Canopy Realtor® Association/Canopy MLS and broker-in-charge at Dickens Mitchener. “While affordability remains a challenge for many buyers, inventory has reached its highest level since before the pandemic, giving consumers more choices and flexibility than they’ve had in years. Even with new listing activity slowing in May, available inventory continued to grow, which is a positive sign that the market is gradually normalizing. At the same time, demand remains steady, and well-priced homes continue to attract strong buyer interest.”

Showing Activity Highlights Market Hotspots

Showing activity across the Charlotte MSA, a key indicator of buyer interest and foot traffic, revealed that total showings were up 4.4 percent compared to the same period last year, but down a percent compared to April 2026. Buyer activity in the form of showings per listing was elevated in the following areas this past May: Matthews (where listings averaged 6.5 showings per listing), Waxhaw (5.2), Fort Mill (5.0), Kannapolis (5.0), and Union County (5.0).

Home prices remained relatively stable across the Charlotte region in May. The median sales price increased 1.2 percent year over year to $410,000, while the average sales price rose 2.4 percent to $534,625. Sellers also continued to list homes at higher price points, with the average list price climbing 3.7 percent year over year to $593,987. Despite growing inventory and additional choices for buyers, sellers received 96.3 percent of their original list price, down only slightly from 96.6 percent in May 2025.

Condos and Townhomes Continue to Expand Buyer Opportunities

Single-family homes continued to lead the Charlotte region’s housing market in May, with median prices rising 3.1 percent year over year to $418,900, reinforcing continued demand for detached homes. Attached housing, however, continued to provide more affordable options for buyers. The median townhome sales price declined 2.4 percent to $350,000, while condo prices fell 4.8 percent to $295,000. At the same time, inventory growth remained strongest among attached housing types, with townhome inventory increasing 20.9 percent and condo inventory rising 22.7 percent year over year. Buyers shopping in the condo and townhome market also benefited from growing supply, with months of inventory increasing to 4.3 months for townhomes and 5.8 months for condos, creating additional choices and greater negotiating opportunities, particularly in the $200,000 to $500,000 price ranges.

Time-on-market metrics in May continued to reflect a market gradually rebalancing as inventory expands and buyers gain more choices heading into the summer selling season. List to Close, which measures the total time from listing date to closing date, increased 2.3 percent year over year to 90 days. Days on Market, which measures the amount of time a property spends in active marketing status before going under contract, rose 6.8 percent to 47 days, compared to 44 days a year ago. While homes are taking slightly longer to sell than they did last spring, the modest increase suggests buyers are taking more time to evaluate their options in a market with more choices than in previous years.

See May 2026 data for 30+ communities

Mecklenburg County’s housing market in May continued to hold steady, particularly across mid- and upper-price segments. Closed sales declined 1.7 percent year over year as 1,503 homes sold during the month, while pending sales increased 3.5 percent, signaling continued buyer demand despite affordability challenges and elevated mortgage rates. New listing activity moderated slightly, declining 3.1 percent year over year to 2,243 properties entering the market. Even so, inventory continued to expand, rising 10.7 percent to 4,290 homes for sale, while months of supply increased to 3.3 months. Much of the inventory growth continues to occur in the county's higher price ranges, providing buyers with more choices while reflecting the growing concentration of market activity above the $500,000 price point.

Price growth remained stronger in Mecklenburg County than in the Charlotte region overall, underscoring continued demand in one of the region’s most sought-after markets. The median sales price increased 4.2 percent year over year to $469,000, while the average sales price rose 4.9 percent to $650,477. Sellers also continued to list homes at higher price points, with the average list price climbing 7.5 percent to $711,277. Despite rising inventory, sellers received 97.2 percent of their original list price, down only slightly from 97.6 percent a year ago. Homes continued to sell more quickly in Mecklenburg County than across the broader Charlotte region, averaging 37 days on market compared to 47 days regionwide, suggesting demand remains strongest in the county's core and upper-price segments.

“Much of the inventory growth we're seeing in Mecklenburg County is occurring in the mid- and upper-price segments of the market, which is creating more opportunities for buyers while helping the market move toward a healthier balance,” Goode continued. “At the same time, demand remains remarkably steady, particularly above the $500,000 price point, where many buyers continue to prioritize location, lifestyle, and long-term investment potential. As a result, home prices in Mecklenburg County continue to outpace the broader region.”

The City of Charlotte housing market remained resilient in May, with home prices continuing to trend upward despite growing inventory and ongoing affordability challenges. The median sales price increased 2.3 percent year over year to $440,000, while the average sales price rose 7.6 percent to $637,845, reflecting continued demand, particularly in the city's mid- and upper-price segments. Sellers received 97.2 percent of their original list price, down only slightly from 97.6 percent a year ago, while homes spent an average of 38 days on the market, compared to 35 days in May 2025. Although buyers are taking slightly more time to make purchasing decisions, the city remains one of the region's most competitive housing markets.

Buyer demand remained steady throughout May, even as new listing activity moderated. Pending sales increased 1.7 percent year over year as 1,265 homes went under contract, while new listings declined 3.7 percent to 1,789 properties entering the market. Despite fewer new listings, inventory continued to expand, rising 12.5 percent year over year to 3,476 homes for sale and pushing months of supply to 3.4 months, up from 3.1 months in April. The continued growth in available inventory is providing buyers with more choices than they've had in recent years, while demand remains strong enough to support ongoing price appreciation across much of the city.

What Income Is Needed to Purchase a Home in the Charlotte Region?

Based on May median sales prices and standard lending affordability guidelines, a household would need an annual income of approximately $106,000 to purchase a median-priced home in the Charlotte region, where the median sales price reached $410,000 in May 2026. That figure rises to approximately $113,000 in the City of Charlotte, where the median sales price was $440,000, and approximately $121,000 in Mecklenburg County, where the median sales price reached $469,000. Income estimates above are based on a median-priced home purchase using a 30-year fixed-rate mortgage, a 20 percent down payment, estimated taxes and insurance, and the common guideline that housing costs should not exceed 28 percent of gross monthly income. Actual qualification requirements vary by lender, interest rate, debt obligations, and borrower circumstances.

Canopy MLS and the Down Payment Resource Tool (DPR)
Prospective buyers should also be aware that a home's purchase price does not always tell the full affordability story. Through Canopy MLS's Down Payment Resource tool, Realtors® can identify eligible properties and connect buyers with thousands of local, state, and national programs that assist with down payments, closing costs, and other homeownership expenses.

More than 80 percent of active residential listings in Canopy MLS may qualify for some form of down payment or homeownership assistance, including many homes priced up to $800,000. While down payment programs are often associated with lower-priced homes, eligible buyers may find assistance available across a much broader range of price points than they realize. In one recent transaction, a Charlotte-area first-time homebuyer received approximately $60,000 in down payment assistance, demonstrating how these programs can help qualified buyers overcome one of the biggest barriers to homeownership.  Learn More about the Down Payment Resource tool.

Canopy Realtor^® Association provides monthly reports on residential real estate market activity for the Charlotte region, representing 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 2026 Association/Canopy MLS President Joan B. Goode, Realtor®/Broker with Dickens Mitchener, please contact Kim Walker.

Canopy Realtor® Association owns and operates Canopy MLS, the region’s primary source for accurate, timely property data across a multi-county service area spanning North Carolina and South Carolina, including the Charlotte, Asheville, and Hickory-Lenoir MSAs. With more than 21,000 subscribers, Canopy MLS delivers comprehensive property data and innovative tools that support residential real estate transactions, from buying and selling to investing and renting.