Tuesday, October 9, 2012

Charlotte housing market: The perfect mix of favorable conditions, association president says

Charlotte-area home sales prices and closings were up in September, according to the latest data from the Charlotte Regional Realtor Association.

Homes also spent less time on the market and sellers received more of what they were asking for than this time last year.

"The Charlotte housing market is steadily improving with consistent gains in both closed sales and prices," association president Jennifer Frontera said in a statement.  "We are experiencing the perfect mix of favorable conditions: high affordability, fewer distressed listings, steady demand and inventory that has finally reached equilibrium at six months supply."

Average sales price in September was $206,051, up 4.8 percent compared to September 2011. Median sales price, which real estate professionals say best shows long-term trends, was $160,000, or up 6.7 percent from a year ago.

Sales closed on 2,244 homes during the month, up 14 percent from 1,068.

Sellers nabbed 91.9 percent of the average list price, up from 89.4 percent. Homes were on the market an average 150 days between listing and closing, 18 days fewer than last year.

Fewer people listed homes for sale as the overall inventory for the Charlotte area fell 26.9 percent compared to September 2011. Foreclosures and other distressed sales accounted for 12 percent of new listings and 15.3 percent of closed sales. In September 2011, such sales accounted for 16.5 percent of new listings and nearly 21 percent of sales.


Anonymous said...

At this rate, it will only take mine abou 11 years to catch up with its tax vale.

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