From Frenzy to a Breather

During the pandemic boom, blink-and-you-miss-it sales were the norm – houses often sold in under two weeks. Now, buyers can finally catch a breath. The average DOM in the Charlotte region stretched to about 48-56 days by end of 2024, depending on the county. In plain English, most homes take nearly two months to sell now instead of two weeks. That’s a big shift! Sellers have had to adjust their expectations; gone are the days of listing on Friday and picking from 10 offers by Monday. We’re seeing price reductions creeping in and some sellers even courting buyers with closing cost assistance or mortgage rate buydowns. It’s a more balanced vibe than the manic market of 2021.

A Touch More Leverage for Buyers

Longer DOM gives buyers a bit more breathing room and bargaining power. You might actually get to see a home twice before deciding, or include a home inspection contingency without getting laughed at. In early 2025, negotiation leverage has tilted ever so slightly toward buyers – contingencies are back, and lowball offers aren’t immediately tossed out. That said, don’t be fooled: in desirable neighborhoods, well-priced homes still move fast. A South End loft or a Dilworth tiny home can still attract multiple offers if priced right. The DOM averages are inflated by overpriced listings or less sought-after locations. The takeaway? If a home has lingered on the market past the 1-month mark, it might be ripe for a deal. But for the cream-of-the-crop homes, you’ll want to act quickly even in this “calmer” market.

Sellers Adjusting to the New Normal

Sellers have noticed the winds changing. We hear it in conversations: “Maybe we missed the peak… but we’re still in a good spot.” Realistic sellers are now pricing their homes closer to market value from the get-go, rather than shooting for the moon. Those who overshoot are facing the inevitable—price drops after a few weeks with no bites. Interestingly, many sellers aren’t desperate; they have locked-in low interest rates on their current homes, so if they don’t get the price they want, they often choose to stay put. This keeps inventory low and puts a floor under prices. So while buyers have more negotiating room than in the frenzy days, sellers aren’t exactly in “must sell at any price” mode. It’s a bit of a staredown: buyers waiting for bigger drops, sellers holding firm if they can. The result is a stalemate for some listings, padding the DOM stats.

The Opportunity in Patience

For investors and patient homebuyers, this rise in DOM is welcome news. It means you can shop around more, compare options, and perhaps snag a deal on a property that others overlooked. Found a great house that’s been listed for 45 days? Chances are the seller might entertain an offer below list price now. It’s a prime time for those willing to strategize and negotiate. Also, consider properties that need a bit of work. In a hot market, fixer-uppers still sold instantly; now, they might sit longer as move-in-ready buyers have choices. That’s your window to add value. By being patient and picky, you can turn the days on market drama to your advantage—without overpaying in a bidding war. It’s a refreshing change of pace in Charlotte real estate, and smart buyers are capitalizing on it.

Are you looking to capitalize on the shifting dynamics in Charlotte’s market? Follow us for weekly updates on price-reduced properties and hidden gems. Come visit us on our site or drop us a message for tailored advice on negotiating the best deal in this changing market. Let’s make this market work in your favor!