Is Mecklenburg County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mecklenburg County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Mecklenburg County has remained a Seller's Market.

Key Takeaway

Mecklenburg County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Mecklenburg County, NC

How much do homes in Mecklenburg County, NC cost?

Median Sold Price

$425,549

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$10,953(+2.6%)

Key Takeaway

Homes in Mecklenburg County have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Mecklenburg County was $425,549 in February 2024, up 2.6% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $251.6K$272.2K
+8.2%
2 $294.5K$310K
+5.3%
3 $375.7K$384.5K
+2.3%
4 $516.8K$523.9K
+1.4%
5+ $713.8K$740.8K
+3.8%

Summary: Mecklenburg County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Counties

Mecklenburg County
+2.6%
Union County
+2.2%
York County
+0.7%
Cabarrus County
-0.8%
Gaston County
-1.0%

Housing Supply in Mecklenburg County, NC

How many homes are available in Mecklenburg County, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,6563,998+9.4%

Summary: The Mecklenburg County real estate market had 3,998 homes for sale in February 2024, a 9.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 84100
+19.0%
2 503562
+11.7%
3 1,7061,800
+5.5%
4 9891,094
+10.6%
5+ 374442
+18.2%

Summary: The Mecklenburg County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
794975+22.8%

Asking Price vs. Sold Price

463 Homes Were Sold
Under Asking

251 Homes Were Sold
At Asking

261 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mecklenburg County, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.

Summary: A total of 975 homes were sold or pending in Mecklenburg County in February 2024, up by 22.8% month-over-month. Of the 975 sold homes, 47% were sold under asking, 26% were sold at asking, and 27% were sold over asking.

Days on Market for Mecklenburg County, NC

How long does it take to sell a home in Mecklenburg County, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
49 Days37 Days-24.8%

Summary: Homes in Mecklenburg County had an average of 37 days on market in Feb 2024, down by 24.8% compared to last year.

Breakdown of Home Sale Times

604 Homes Were Sold
Under 30 Days

247 Homes Were Sold
In 30 - 90 Days

124 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mecklenburg County are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 975 homes were sold in Mecklenburg County; 62% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Mecklenburg County, NC

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