Charlotte Housing Market Shows Mixed Signs as Home Supply Rises 35.9% in Early 2025
The Charlotte housing market continues to favor sellers in many high-demand areas, even as supply conditions gradually improve from the ultra-low inventory levels seen during the pandemic-era housing surge. As of early March, inventory climbed to nearly 8,500 homes, marking a 35.9% increase from the same time last year and resulting in a 2.4-month supply.
The spring selling season began slowly, with the average home going sold and off the market after about 55 days in February 2025 — but there are signs of strengthening activity. Closings were up 2.6% from a year earlier to 3,669 and up 10.5% from January, a momentum builder heading into spring. In the broader 16-county region, home sales totaled 2,707 in February — a decline of 8.7% from last year but a 9% increase from the previous month.
New listings reached 4,428, reflecting a 4% year-over-year and 9.4% month-over-month increase. The average list price rose 7.8% to $544,563. Mortgage rates eased slightly to just above 6.6% at the end of February, down from nearly 7% in late January, helping to support buyer interest.
“Despite high mortgage rates, buyer interest remains robust,” said Charisma Southerland, president of the Canopy Realtor Association, to the Charlotte Business Journal. Southerland added that while affordability remains a challenge, the market appears more stable than in recent years, offering opportunities for both buyers and sellers to plan their next steps.
Showing activity has declined slightly, with a 4.6% year-over-year decrease and listings averaging 5.1 showings each. Matthews stood out with an average of 7.3 showings per listing, which means there was a lot of demand from buyers for that area.
The median sale price in Charlotte was unchanged at $385,000 in February, while the average sale price grew 2.5% year-over-year to $476,652, but that was a decrease of about 3% from January. As inventory levels improve and price appreciation stabilizes, the Charlotte housing market kicks off the spring buying season with measured optimism, ultimately setting the stage for balanced real estate decisions.
