As we get deeper into 2024, Charlotte continues to be a magnet for families and professionals seeking the perfect blend of small-town charm and big-city opportunity. As the second-largest banking hub in the United States, Charlotte offers a strong economic landscape while maintaining the welcoming feel characteristic of North Carolina.

Continued Seller’s Market

Charlotte is still one of the fastest-growing cities in the country – the area has added over 47,000 new residents since 2023 and this influx doesn’t seem to be slowing. This steady flow of newcomers fuels the demand for housing, which in turn keeps the market competitive for sellers. As a result, Charlotte remains a strong seller’s market, with properties often selling for more than the listing price. In January, 26.9% of homes in Charlotte sold above their asking price, which is a drop versus October of last year, but still plenty.

The median home price in Charlotte as of April was $411,693, up 4.2% from April 2023. This trend is expected to persist as long as the demand continues to outstrip supply. For sellers, this means now is an excellent time to list properties – as long as they’re not looking to buy simultaneously.

Buyer Considerations

For buyers, the current market dynamic can be challenging. Buyers should be prepared to act quickly when they find a property they want and have financing in place first. There’s little room for coming in low and hoping for negotiating with so many houses going over asking, so it’s best to start with your best offer.

Despite the challenges, people are still flocking to Charlotte for its robust job market, high quality of life, and low cost of living compared to other major cities. Mortgage rates are predicted to stabilize and fall slightly by year-end, into the mid-6 % range, which should help buyers.

Investment Opportunities

Although the strong seller’s lean should continue through 2024, it still looks promising for investors. The city’s strong economic base and population growth will mean continued demand, so it’s still a viable market for long-term and rental investment. Investors can expect a steady appreciation in property values, driven by new residents and limited availability of new construction due to interest rates and land costs.

Housing Market Stability

One difference between Charlotte and much of the rest of the country is that inventory is not increasing. In fact, there’s been a decline in inventory over the past year. This has fueled some unfounded concerns of an imminent market crash in Charlotte, but this seems unlikely.

While it’s true that houses in the Charlotte metro are staying on the market longer in 2024 than last year, in Charlotte proper, they’re going faster. Sales-to-list ratios are still strong, meanwhile, and the strong overall economic situation and good job market indicate that housing demand will continue to be high for the rest of 2024. So, Charlotte’s real estate market should remain solid at least through the end of the year.

When You’re Ready to Sell in Charlotte

Since it is such a strong seller’s market both nationally and in Charlotte, now is the time if you’re ready to move a property in the area.

The team here at Creative Home Stagers can help you. We don’t just stage a house – we make it look like the home buyers are looking for. When visitors can see themselves living there, you get more offers. So, schedule an appointment with us today to find out how we can help you sell faster and get more than the asking price.