Latest news on the Mint Hill, NC real estate market in August 2023...
What it means for you...
What you need to know...
Median Home Price Up 15.41% Y-O-Y And Up 17.46% M-O-M
The Mint Hill housing market more than held its own in July. Key take-aways about Mint Hill's housing market trends in August 2023:
- Home sales prices increased in August both month-over-month and year-over-year. Median sale price increased substantially from one month and one year ago.
- Closed sales were at their highest level in three years in June 2023 and declined in July, but increased 31+% year-over-year.
- New listings increased 40.48% from July and 20.41% compared with August 2022.
- Days on market declined 52.94% from July and were at their lowest level since September 2022 at 17 days.
- Housing inventory was at its second lowest level since April 2022.
- List to sale price ratio of 100.9% left little room for buyers to negotiate on price.
- With a months supply of inventory of 3.05 months, Mint Hill remained a home seller's market in August 2023.
Mint Hill Housing Market Highlights: August 2023
HOME PRICES INCREASED YEAR-OVER-YEAR AND MONTH-OVER-MONTH
Average sale price in August 2023 was $517,314 up 5.55% from $490,099 in July 2023 and 7.7% higher than $480,329 in August one year ago.
Median home sale price in August 2023 was $508.000, up 17.46% from $432,500 in the previous month of July. It was 15.41% higher than $440,175 in August one year ago. The median sale price was at its highest level compared with August 2022 and August 2021.
Price per square foot in August 2023 was $211, down 4.52% from $221 in the previous month of July. Year-over-year, the average price per square foot was 5.5% higher than $200 in August 2022.
DAYS ON MARKET DECLINED AFTER SUBSTANTIALLY INCREASING IN JULY
Average days on market August 2023 were 24 days, declining 52.94% from 51 days in July 2023 and up eights days compared with August 2022. The August 2023 days on market were at their highest level compared with July 2022 (16 days) and August 2021 (17 days). August's days on market were at their lowest level since September 2022.
MINT HILL HOUSING INVENTORY UP SLIGHTLY FROM JULY
The number of properties for sale in August 2023 was 131, up 3.15% from 127 properties in the previous month of July. Inventory was 18.63% lower than the 161 properties for sale in August 2022. This was the second lowest level of inventory in Mint Hill April 2022. With a 3.05 months supply of inventory in August, Mint Hill remained a seller's market.
NEW LISTINGS INCREASED IN AUGUST
The number of new listings in August 2023 was 59, increasing from the 42 new listings in the previous month of July. Compared with August 2022, new listings were increased 20.41% from 49. Compared with August 2021, new listings were down from 75.
MINT HILL SALES UP YEAR-OVER-YEAR
Sales declined 36.11% after increasing an astonishing 46.94% in June 2023. July 2023 had 46 sales compared with 72 sales in the prior month. Sales increased 31.43% from 35 in July 2022. Sales declined from 52 in July 2021.
LIST TO SALE PRICE RATIO JUST UNDER 101%
With a selling price at 100.9% of list price in August 2023, the list to sale price ratio increased 1.74% over July. Year-over-year, the list to sale price ratio was equal to that of August 2022.
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MORE INFORMATION ON THE MINT HILL HOUSING MARKET'S PERFORMANCE
MEDIAN HOME SALE PRICE TRENDS FOR MINT HILL
(12 Month Rolling Average)
The Town of Mint Hill has been ranked by Niche.com as the #22 best Charlotte area suburb to live in. Did you know that Mint Hill (not Charlotte) was Mecklenburg County’s first town, founded in 1750 by Scot-Irish pioneers? Learn more about the rich history of Mint Hill here.
MINT HILL MAP/BOUNDARIES
Contact Nina Hollander with Coldwell Banker Realty if you'd like more information about the buying or selling a home in Mint Hill. (or in any Greater Charlotte neighborhood, for that matter). I've been opening doors for Mint Hill home buyers and sellers for 24+ years.
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