Current home values in Charlotte

Since 2020, the median home value in the Charlotte metro area has surged 37.5%. At the start of the decade, the typical home sold for $280,000, compared to $409,225 in May of this year, according to data from the Canopy Realtor Association.

“Even though the region has experienced steady increases in supply and inventory over the last few months, the Charlotte region is still a tight market, which is why prices are rising,” said Charisma Southerland, 2024 president of Canopy Realtor Association/Canopy MLS, in a recent press release.

“As more housing inventory becomes available, prices will continue to moderate. But buyers won’t see prices falling dramatically in our market since the region has had enough demand to keep this from happening.”

The table below illustrates just how high home prices have climbed in the Charlotte region over the last five years:

This trend isn’t limited to the Queen City; it’s playing out nationwide. A recent analysis by ResiClub of the Case-Shiller National Home Price Index shows that U.S. home prices have jumped 47% since the beginning of 2020.

As a result, homeowners have built up substantial equity in their homes, which they can leverage to purchase new properties, make home improvements, pay down debts, or save for retirement. ICE’s Mortgage Monitor report reveals that as of early 2024, the average mortgage-holding homeowner boasts $299,000 in equity.

In the next section, we’ll show you how to estimate how much your Charlotte-area home is worth.