We’re seeing an interesting shift in the housing market: nearly 21% of active listings had price cuts in late Q3, and inventory climbed above 1.16 million homes—now within about 9% of pre-pandemic levels. For buyers in Charlotte, this means more choices and better chances to negotiate. However, with homes under contract down about 4% year-over-year for the second month, it’s clear that higher mortgage rates are still making affordability a challenge for many. The national median list price sits at around $419,000, which is down roughly 1% both monthly and yearly, continuing an 11-month streak of annual price declines. Price per square foot dropped about 2% year-over-year. Sellers are mostly sticking it out, with only about 6% of listings delisted—steady compared to last year. Instead, more owners are adjusting prices and opening the door to negotiations. As someone who helps families and investors navigate Charlotte’s real estate landscape, I’m closely watching to see if these price cuts will spark more contracts, or if rising inventory and careful buyer activity will keep this adjustment period going. Navigating these changes with local perspective and up-to-date data makes all the difference.
Leave a Reply