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Aug. 25. By Dave Yochum. Although the number of home sales across the Charlotte Metro region ​fell 10.5 percent since their peak in July last year​, the residential real estate outlook is still exceptional, especially for sellers.​

​”​We are still experiencing multiple offers and above asking prices​,” said Matt Sarver, with Keller Williams in Cornelius.

Home prices continue to increase​. Canopy Realtor Association said Charlotte Metro prices were up 16 percent​ in July​. The average list price of a home in Cornelius was an astonishing $565,645 in July.

​​North Meck price gains (year over year)

Matt Sarver

Cornelius: +9.5%
Davidson: +26%
Huntersville: 23%

Seller’s market

Sarver said there is growing competition for ​a shrinking inventory.

​”​Everything we are hearing is that prices will increase another 10​ percent​ next year, 5​ percent​ in 2023​ and ​3​ percent​ in 2024 and 2025, so a softening but still steady increase​,” he said.​

​There may be ​some seasonal adjustments by January​.

“Supply would have to greatly increase in order for demand to slow down which I don’t see happening quickly​,” he said.​

Cornelius

From July of last year to July this year, new listings fell by 15 percent—from 100 new listings in July of 2020 to 85 new listings last month. Days on market to sale fell from 45 to 16, according to Canopy.

Davidson

New listings down 40 percent. Canopy reports average list price in July was $682,368.

Huntersville

New listings down 31.5 percent. Canopy says average list price was $510,091 in July.