Charlotte-area home sales fell 8.7% in August as the number of homes for sale kept climbing

Home sales in the Charlotte region fell 8.7% in August from a year earlier, to 3,560 closings, while the number of homes for sale rose 7.1%, the Canopy Realtor Association reported on September 29. Prices barely moved: the regional median sales price was $410,000, up 2.5% from August 2025, according to the association’s monthly report.

Closed sales also dropped 14.1% from July, the report shows. Buyers had more homes to choose from and more time to decide, with the average home spending 55 days on the market, up 17% from a year earlier.

The regional numbers

Canopy’s report covers a 16-county region around Charlotte, according to Hoodline. The August figures for the full region:

• Closed sales were 3,560, down 8.7% from August 2025 and down 14.1% from July.
• Pending sales, or homes under contract, were 3,763, down 1.8% from a year earlier.
• The median sales price was $410,000, up 2.5%, and the average sales price was $530,308, up 3.7%.
• Inventory reached 13,574 homes, up 7.1%, or 3.7 months of supply.
• New listings fell 2.2% to 4,940, and homes took an average of 100 days from listing to closing.

Months of supply measures how long the current inventory would last at the recent pace of sales. At 3.7 months in August, the region had more supply than a year earlier, when the figure was 3.3 months, according to Canopy.

For the year through August, closed sales are down 1.1% and pending sales are up 0.7% compared with the same months of 2025, according to Canopy.

Mecklenburg County and the city

Prices are higher in Mecklenburg County than in the region as a whole, and the drop in closings there was smaller. In August, according to Canopy:

• Mecklenburg closed sales were 1,230, down 6.4%, and pending sales were 1,232, down 8.1%.
• The county’s median sales price was $468,000, up 1.8%, with an average price of $614,667.
• County inventory rose 12.7% to 4,543 homes, or 3.6 months of supply, and homes spent an average of 45 days on the market.
• Inside Charlotte city limits, closed sales were 971, down 5.3%, and the median price was $427,500, up 0.6%.
• City inventory rose 15.7% to 3,737 homes, the biggest jump of the three areas, with 3.7 months of supply.

Pending sales in the city were 983, down 4.4%, and the average sale price was $584,158, nearly flat. New listings in the city ticked up 0.9% to 1,363, the only one of the three areas where more homes came on the market than a year earlier. The year-to-date median price in the city is $430,000, up 0.8%.

A note on the numbers: some early coverage of the report, including WFAE and Hoodline, described $427,500 as the median price for the region. In Canopy’s report, $427,500 is the median for the city of Charlotte, and the regional median is $410,000.

How August compares with July

July was a stronger month on most measures. Canopy’s July report showed 4,142 regional closings, up 1.6% from a year earlier, and 1,470 closings in Mecklenburg County, up 3.4%. In the city, July closings rose 2.4% to 1,170. Mecklenburg’s July median price was $468,500, almost exactly where the county landed in August.

Average prices slipped from July. The regional average sale price was $530,308 in August, down 2.7% from July, though still up 3.7% from a year earlier, according to Canopy.

A year ago the story was different. In August 2025, falling mortgage rates, which had dropped to 6.59%, their lowest level in a year, pulled buyers back into the market and pushed pending sales up 12.4%, according to Canopy’s report at the time.

The swing from small gains in July to declines in August came as mortgage rates started climbing again. Rates averaged about 6.65% to 6.69% in August, Hoodline reported, and passed 7% in late September for the first time since January 2025, as covered in the Sept. 25 report.

What Canopy says

Joan B. Goode, president of the Canopy Realtor Association, said “the Charlotte market continues to show resilience.” She pointed to the growing supply of homes as a change for buyers, who have more options and more room to compare than they did a year ago, and said understanding those options matters as much as watching prices.

Renters are seeing little change. The average lease price in the region was $2,106 a month through August, up 0.3% from a year earlier, according to Canopy.

South Carolina counties

The four South Carolina counties in Canopy’s coverage area saw a steeper drop. York, Lancaster, Chester and Chesterfield counties had 547 closed sales in August, down 13.3%, while pending sales rose 1.8% to 627, according to Canopy’s South Carolina report. New construction made up 22% of the market in those counties, according to Canopy. The county figures for August:

• York County, which includes Fort Mill, Rock Hill and Tega Cay, had 363 closed sales and a median price of $420,000.
• Lancaster County had 142 closed sales and a median price of $481,700, the highest of the four.
• Chester County had 29 closed sales and a median price of $305,000.
• Chesterfield County had 10 closed sales and a median price of $261,000.

Angela Harris, president of the Piedmont Regional Association of Realtors, said August showed the value of looking at more than one number when judging the market.

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