For the second consecutive year, single-family home sales fell in the Charlotte region, according to data from the Canopy Realtor Association — a 17.3% drop compared to 2022.
The organization made up of local real estate professionals reported that 41,546 closings were made in 2023 — 8,676 less than the prior year for the 16-county region.
There also was a 15% decrease in home sales from 2021 to 2022. But home sales increased by 8.2% between 2020 and 2021.
Year-end data show that the homebuyers paid more for houses last year, with the median sales price being $377,500 — a 0.7% decrease of more than $2,500 in the region.
For this year, local real estate experts said they were expecting to face the challenge of working in a housing market with more demand than available homes, as interest rates start to tick down. Concerns involve developers not building enough houses to keep up with population growth and homeowners not willing to put their homes up for sale.
Data for the Charlotte region listed 48,741 homes on the market, which was a 15.7% decrease from 2022.