CHARLOTTE — There’s a rising chance the house saved in your Zillow favorites will get a price cut. The home-data company reported in January that 23% of listings nationally received a price cut to start the year, a record high for the month, as buyers flexed negotiating power.
Awash in data on listings and sales prices, buyers are highly educated about market value, and there’s little patience for homes deemed priced too high, Charlotte residential agents say.
“It’s a challenging market to price homes,” says Ben Bowen, an agent with Premier Sotheby’s International Realty. Sellers expect the double-digit appreciation they enjoyed at the start of the decade, while buyers think higher interest rates should surely put downward pressure on prices.
Price cuts began last year.
In August, Zillow reported that 27.9% of listings in Charlotte got a price cut. Raleigh saw 34.5% of homes dropping listing prices.
The challenge is that it’s still possible to land a quick sale at a high price with inventory remaining at historically low levels. Nationally, nearly 25% of homes that sold in December did so for more than the original asking price. That’s compared to about 19% before the pandemic.
Keep reading about the current market conditions on CBJ’s website here.
WATCH BELOW: Local woman says fight with HOA over $400 cost her family their home
©2025 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
