Q1MarketReport &AreaResults
Prepared for the Charlotte region and all markets we serve.
Dear Friends and Neighbors,
As we step into spring, we ’ re excited to share our latest market update for the markets we serve throughout the Carolinas. After a fast- moving few years, the beginning of 2025 is giving both buyers and sellers a fresh opportunity to approach the market with a little more breathing room and a lot of optimism
Overall, we ’ re seeing a healthy and steady pace across our major metropolitan areas. More homes are coming to market and inventory is on the rise nationally giving buyers a wider range of options than they’ve had in recent seasons. For sellers, well-prepared and competitively priced properties continue to attract strong interest, even as days on market have modestly increased
The market is normalizing in a way that feels more sustainable. Although closed sales have dipped slightly in many areas, this mirrors a broader trend nationally and presents opportunities for buyers to negotiate more favorable terms with the right real estate guidance from your trusted REALTOR®.
For buyers, improved inventory and stabilized pricing have created a welcoming environment to find the right fit. For sellers, the ongoing demand for homes in our area especially for those that stand out makes this a great time to prepare for the next chapter.
Carolinas, we expect steady momentum to carry through the year.
This quote from Mark Palim, Senior Vice President and Chief Economist at Fannie Mae, summarizes the current market outlook: “From an affordability perspective, we think 2025 will look a lot like 2024, with mortgage rates above 6 percent, home price growth easing from recent highs but staying positive, and supply remaining below pre- pandemic levels ”
Your Trusted Advisors in Every Market Condition. At ERA Live Moore, we are proud to offer our clients more than just market knowledge We provide thoughtful guidance, personalized strategy, and an unwavering commitment to helping you make the most informed and confident decisions possible whether you ’ re buying, selling, investing, or simply exploring your options.
Thank you for trusting us as your real estate partners. We are honored to serve you and look forward to helping you make 2025 a successful and memorable year
Warmest regards,
Brookelynn Cardenas Vice President, Relocation & Business Development ERA Live Moore
CHARLOTTE AREA
Understanding the Market: Insights for Buyers and Sellers
As we review the first quarter of 2025, the Charlotte Region and Mecklenburg County real estate markets continue to show strong momentum. Rising prices, growing inventory, and steady buyer activity are shaping a dynamic environment for the year ahead. Whether you are considering purchasing a home or preparing to sell, the following key findings offer important insights to help guide your decisions.
Key Findings – Q1 2025 Charlotte Region and Mecklenburg County
What Buyers Should Know:
More Homes to Choose From:
Inventory surged across the Charlotte Region, giving buyers more options and slightly easing competitive pressure.
Home Prices Are Rising:
Both median and average sales prices increased compared to last year, meaning buyers should act strategically to secure favorable pricing before further gains.
Affordability is Shifting:
Mecklenburg County’s average sales price has now surpassed the regional average an important trend for buyers evaluating location and budget.
What Sellers Should Know:
Strong Pricing Environment:
Rising sales prices create an excellent opportunity for sellers to maximize their return on investment when listing their homes.
Active Buyer Demand:
Closed sales rose in Q1, indicating a market where well-prepared listings are attracting strong buyer interest.
Market Momentum is Building:
The strong Q1 performance across the Charlotte Region set a positive tone for the spring and summer selling seasons, traditionally the most active times of the year.
CHARLOTTE REGION
RESIDENTIAL SALES SUMMARY
Median and Average Sales Price saw an increase, along with surge in Inventory, while Closed Sales stayed virtually level with the previous Q1 in 2024 This activity defined much of the Charlotte Region and established a baseline for our other markets
The Median Sales Price in Q1 2025 for a single family home in Charlotte was $387,200 for a year over year increase of 1.9%
As of March 2025 the Average Month's Rent in Charlotte for a 2 bedroom was $1,873
Charlotte Occupied Housing Units 53% of homes are owner-occupied households and 47% are renter-occupied households
The Median Sales Price in Q1 2025 for a single family home in Mecklenburg County was $445,000 for a year over year increase of 4.7%
MECKLENBURG CO.
RESIDENTIAL SALES SUMMARY
Charlotte's home county shows higher increases in Median and Average Sales Price year-on-year over Charlotte, with a huge surge in inventory and notable drop in Closed Sales that contrasts with Charlotte The county, once a respite for buyers seeking affordability, maintains a considerably higher Average Sales Price than the Charlotte Region
CHARLOTTE-AREA COUNTIES
RESIDENTIAL SALES SUMMARY
Cabarrus County is one of Charlotte's largest neighboring counties and home to the county seat of Concord and the pretty towns of Mt. Pleasant, Midland, & Kannapolis. Union County features the charming and in-demand town of Waxhaw–growing in both popularity and Increasing in Average Sales Price
Cabarrus Co.
Union Co.
CHARLOTTE-AREA COUNTIES,
RESIDENTIAL SALES SUMMARY
The major metro area surrounding Charlotte includes seven different counties, each with its distinctive towns, cities, and townships. Charlotte’s surrounding counties provide greater inventory at various price points with something for everyone- from charming rural communities to vibrant market towns and commercial areas.
York Co.
Lancaster Co.
THE TRIAD | WINSTON SALEM
RESIDENTIAL SALES SUMMARY
In Q1 of 2025, the Median Sales Price in Winston-Salem, NC was $292,500, trending up year-over-year by 3.9%. This laid-back city experiencing continued growth is located in Forsyth County in the north-central part of North Carolina. The metro area lies along the Carolina Core in the heart of North Carolina, a 120+ mile stretch running between Winston-Salem, Fayetteville, Greensboro, & High Point. The Triad's continued big draw? Affordability!
THE TRIAD | GREENSBORO
RESIDENTIAL SALES SUMMARY
U.S. News and World Reports ranked Greensboro #94 in the nation for Best Places to Live and #71 in Best Places to Retire. Part of the Piedmont Triad, with a low cost of living and a Q1 2025 Median Sales Price of $323,000, it's one of North Carolina's more affordable metro areas. Inventory in Greensboro has been on the rise, with an increase in new listings of 21% year-overyear.
THE TRIAD | HIGH POINT
RESIDENTIAL SALES SUMMARY
High Point is located alongside Greensboro and Winston-Salem in the Piedmont Triad region of North Carolina, the nation’s 33rd largest metro area with a population exceeding 1 7 million Home of High Point University and the famous annual High Point Market, the world's largest home furnishings trade show High Point offers outstanding value for homebuyers, while sellers can expect to receive 97 2% of List Price
THE TRIAD | WILKES COUNTY
RESIDENTIAL SALES SUMMARY
Wilkes County is widely known for its county seat, Wilkesboro, and its largest town, North Wilkesboro The area is widely known for MerleFest, an annual "traditional plus" music festival held in Wilkesboro each spring. Wilkesboro home-buyers enjoy a relatively low sales price compared to larger metro areas in North Carolina and an increase in the availability of homes on the market for buyers seeking value and proximity to Winston Salem
McDowell County RESIDENTIAL
SALES SUMMARY
In Q1 2025, McDowell County continues to showcase its natural beauty and outdoor attractions. Quaint shops line the streets from the market town of Marion to the charming country town of Old Fort. The region is now focused on recovery efforts following the impact of Hurricane Helene, which disrupted local communities and businesses. Despite these challenges, McDowell and neighboring Burke Counties remain among the most affordable housing markets in the state, second only to Wilkes County, offering opportunities for both residents and investors as recovery progresses
Burke County
Burke County, nestled in the foothills of North Carolina's Blue Ridge Mountains, continues to draw visitors with its scenic attractions, including Linville Gorge, the Fonta Flora State Trail, and portions of the Pisgah National Forest. The attractive market town of Morganton offers a blend of laid-back living and small-town charm. The county is navigating the recovery process in the aftermath of Hurricane Helene, which disrupted local life and tourism. Burke County's housing market continues to attract families and professionals, providing stability and a sense of community in this picturesque region
ASHEVILLE RESIDENTIAL SALES SUMMARY
Asheville’s Average and Median Sales Price increases were neck and neck, while Month's Supply surged ahead with a considerable 43 6% increase on 2025's Q1 figures Closed Sales dropped once again–this quarter, by -4 4% Expect prices to stabilize through a recovery-focused 2025 and watch for an improvement on Days on the Market during the Spring selling season
Asheville (Region)
The pastoral setting of Buncombe County, Asheville's home county, saw its Q1 Average Sales increase slightly. On average, homes in Buncombe County are on the market for 64 days. While Buncombe County offers a considerable selection and opportunities for first-time buyers, its new developments and luxury communities have put upward pressure on home prices, often outpacing Asheville.
RALEIGH & TRIANGLE AREA
RESIDENTIAL SALES SUMMARY
Understanding the Market: Insights for Buyers and Sellers
The first quarter of 2025 highlighted strong upward trends across Raleigh, Durham, and Wake County. With home prices reaching new highs and inventory growth-balancing a highly competitive environment, both buyers and sellers have meaningful opportunities to make strategic moves this year. Below are key takeaways designed to help guide informed decisions on either side of the market.
Key Findings – March 2025 Raleigh, Durham, and Wake County
What Buyers in this Market Should Know:
Inventory Levels Are Rising:
A rise in available homes for sale is creating more opportunities for buyers, helping to balance competition in these historically fastpaced markets
Home Prices Are Still Climbing:
Raleigh’s average sales price surged to $618,556 a 13% increase compared to this time last year reinforcing the need for buyers to act decisively.
Durham and Wake County Remain Competitive: While inventory is improving, demand continues to be strong, particularly in Durham and Wake County, making preparation and quick decision-making essential for buyers.
What Sellers Should Know:
Record-High Sales Prices:
Raleigh’s homes reached new average price highs, while Durham sellers saw a 12%+ increase over last year ideal conditions for maximizing returns
Faster Market Moves:
In Durham and Wake County, Days on Market decreased by more than 30%, meaning wellpriced and well-presented homes are selling faster.
Sustained Demand Across the Triangle:
Despite inventory increases, strong buyer interest remains throughout the RaleighDurham market, giving sellers confidence in listing this season.
THE TRIANGLE AREA | RALEIGH
RESIDENTIAL SALES SUMMARY
Raleigh’s real estate market continues its forward momentum, with sales prices at record highs. Home values have been rising marginally, pushing the Average Sales Price of Raleigh homes to $593,437, which is an increase of 7.5% on 2025 results. This marks another month in Raleigh with increased monthly sales and a rise in the number of available homes for sale in its inventory.
THE TRIANGLE AREA | DURHAM
RESIDENTIAL SALES SUMMARY
Triangle Area real estate markets remain active, with Durham and Wake County areas showing particular demand. That's positive news for sellers, for now. For buyers, a significant rise in inventory will maintain balance in this highly competitive market. Sellers will be happy to see Average Sales Prices increase by more than 9% on 2024's figures and Days on Market down over 27.3%!
