Charlotte & Lake Norman Housing Market Update – August 2025

The Charlotte and Lake Norman housing market showed clear signs of momentum in August 2025. Mortgage rates dipped to their lowest point in a year, fueling a surge in buyer activity, while inventory levels climbed across the region. More than 4,000 homes went under contract — a 12% jump from last year — even as closed sales ticked slightly lower. Prices, meanwhile, held steady, proving that both buyers and sellers have unique opportunities in today’s shifting market.

Heres's some quick takeaways of the August Charlotte & Lake Norman housing market.

• Mortgage rates fell to 6.59%, the lowest in a year, sparking stronger buyer demand.

• Contract activity rose 12.4% year-over-year, with more than 4,000 homes under contract.

• Closed sales dipped 3%, but pending contracts suggest more closings ahead.

• Inventory increased nearly 27%, reaching almost 12,000 homes across the region.

• Median sales price held at $400,000, with the average sales price at $515,000.

• Homes are taking longer to sell, averaging 48 days on market compared to 35 last year.

• In Mecklenburg County, contracts jumped 12% and the median price climbed to $466,000.

For buyers, this means more leverage. For sellers, it’s still a strong market — but strategy and presentation are more important than ever!

Rates, Demand, and Contracts

After a year of higher borrowing costs, the drop in mortgage rates to 6.59% has been a game-changer. Buyers who had been waiting on the sidelines came back into the market, pushing contract activity up more than 12% year-over-year. That’s more than 4,000 homes under contract in August alone, marking the second straight month of strong growth.

Closed sales, however, dipped 3% compared to last year. That’s not a red flag — it simply reflects timing. Many of the contracts written in August will show up as closings in the fall.

Inventory and Supply: What It Means

Here’s the most encouraging news for buyers: inventory is up 27%, with nearly 12,000 homes available across the Charlotte and Lake Norman area. To put that in perspective, supply has grown to 3.3 months — a sign of a healthier, more balanced market compared to the hyper-competitive conditions we saw during the pandemic years.

At the same time, new listings actually declined 3.5%. That means fewer sellers jumped in last month, but because homes are taking longer to sell — now averaging 48 days on market, up from 35 a year ago — the total number of available homes has increased. For buyers, that translates to more choices and more breathing room when making decisions.

Prices Hold Steady

Despite rising supply, prices have remained stable. The median sales price rose slightly to $400,000, and the average sales price hit $515,000. Sellers remain confident, with list prices up 6% on average, but the key difference today is that buyers have room to negotiate.

In Mecklenburg County — the heart of our region — contracts climbed 12% while the median sales price rose nearly 6% to $466,000. Inventory there surged 30%, proving even our tightest markets are opening up with more opportunity.

What Buyers and Sellers Should Know

For buyers: More inventory, lower rates, and extra time on the market mean you have more negotiating power than you’ve had in years. Whether you’re looking in Charlotte, Lake Norman, or surrounding counties like Iredell, Union, Gaston, or even into South Carolina markets like York or Lancaster, this fall offers real opportunities.

For sellers: Homes are still selling at strong prices, but presentation and pricing strategy matter more than ever. The best-positioned homes — those marketed effectively, staged, and priced correctly — are still drawing attention and often sell at or near asking.

Why Work with The Sarver Group

At The Sarver Group, my team and I live and breathe this market every day. We guide our clients through every step — from preparing and pricing a home for sale to negotiating offers and navigating closing. For buyers, we provide the insight and strategy to help you find the right home and secure it on the best possible terms.

The bottom line: with rates easing, inventory expanding, and prices holding steady, now is an excellent time to make your move!

Take a look at our current listing portfolio and see what opportunities are available today. When you’re ready, reach out to our team at The Sarver Group — we’d love to help you plan your next step!