ROI Realty Partners- Are We Still Behind on Inventory?

[Kasey Hardt]

In an attempt to help provide insight on our specific market, I went through and pulled our MLS market watch, inventory, and pricing calculations; and summarized the findings, as well as what experts are predicting in terms of growth, for the Charlotte area:

Current Inventory & Pricing in Charlotte (Q1 2025)

• Median Sales Price (Charlotte Region): $387,200, a +1.9% increase year-over-year.

• Inventory of Homes for Sale: Up 39.4% year-over-year across the region.

• Mecklenburg County (Charlotte metro core):

  • Median Sales Price: $445,000, up +4.7%.

  • Inventory: Up 45.8%, with a 2.2-month supply—still below a balanced market (typically 5-6 months).

  • Closed Sales: Down 3.6%, indicating buyer hesitancy or limited affordable supply.

Is Inventory Catching Up with Demand?

Despite sharp increases in listings (some counties seeing 40–70% growth in inventory), supply is still not keeping pace with long-term demand, especially given the region’s rapid population growth.  The Charlotte region only has about 2.5 to 3.7 months of inventory depending on housing type, which is well below the level considered balanced (5-6 months).  

Homes are staying on the market longer: Days on market for most price points increased by 20–40% year-over-year, indicating more supply, but not enough in the right price ranges.

Population Growth & Expert Projections

Charlotte remains a high-growth metro nationally:

• The region's population continues to grow steadily; Mecklenburg County added over 20,000 people in the past year, and projections estimate over 1 million residents in the county alone by 2030. This surge is driven by job growth, in-migration from other states (especially the Northeast and West Coast), and major development projects (like River District and Ballantyne Reimagined).

Expert Outlook

• Experts across the board agree: Even with inventory gains, supply will continue to lag behind demand due to Charlotte’s:

  • Above-average population and job growth

  • Ongoing attraction for corporate relocations (ex: Honeywell, Red Ventures).

  • Housing affordability relative to larger metros like Atlanta and Raleigh.

  • Citywide Deficit: Charlotte is currently short over 18,000 homes, contributing to a national shortage of 4.5 million homes. ​

  • Projected Needs by 2030: The Charlotte metro area is expected to require at least 72,000 new apartments by 2030 to meet growing demand. ​

Key Takeaways for Investors:

• Inventory is improving, but still tight relative to demand.

• If investors are waiting for a "buyer’s market," they may be disappointed—low supply and strong demand will likely persist.

• Acting now may help buyers avoid increased competition as demand rises into summer.