Canopy Realtor® Association Market Updates
Reprinted from April 2025 CRRA Monthly Indicators
U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year-over-year to a seasonally adjusted annual rate of 4.02 million units, according to the National Association of REALTORS® (NAR), as affordability challenges and economic uncertainty weigh on market activity. Sales were down month-over-month in all four regions, with the West experiencing the largest decline, at 9.4%.
Total housing inventory increased 8.1% month-over-month for a total of 1.33 million units heading into April, equivalent to a 4.0-month supply at the current sales pace, according to NAR. Although inventory is up nearly 20% from the same time last year, the additional supply has had little effect on home prices across much of the country, with the national median existing-home price climbing 2.7% year-over-year to $403,700 as of last measure.
New Listings were up in the Charlotte region by 12.6% to 5,933. Pending Sales increased 9.4% to 4,418. Inventory grew 42.2% to 9,985. Prices moved higher as Median Sales Price was up 2.3% to $399,250. Months Supply of Homes for Sale was up 40% to 2.8., indicating that supply increased relative to demand.
A Closer Look
Monthly Average 30-Year Fixed-Rate Mortgage Rates
Residential Closings & Average Sales Price for the entire CMLS Area
A Look at Charlotte's Overall Real Estate Market