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Charlotte Real Estate Market Review For Period September 2010 to August 2011

Summary of market activity for the Charlotte real estate market

A total of 8,297 residential properties were sold in Charlotte during the last 12-month period (from September 2010 to August 2011), a 9% decrease from the previous 12 months, but comparable to the 12-month 2008-2009 period. Most of the hike in sales volume during the 2009-2010 period was mostly related to the $8000 tax credit. Residential home sales totaled 6,522 (a 9.5% decrease compared to the previous period). Condo and townhomes sale levels totaled 1,775.

Traditional residential sale represented 4,261 units in period 2010-2011, while foreclosures represented 2,393 and short sales represent 506 sold.

Charlotte’s new construction home sales represented 1,144 in 2010-2011 as compared to 1,113 in period 2009-2010 with a current median sale price of $182,750.

The median sales price  for residential properties in Charlotte is $145,000, slightly down .7% from the previous 12-month period. This is an indication that homes prices are slowly stabilizing . A total of 17,592 homes were listed during the 2010-2011 period, compared to 22,617 for the previous 12-month period.

Mecklenburg County totaled 8,699 residential homes sold.

Source: Carolina Multiple Listing Services, Statistical Analysis Module

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This Charlotte real estate website provides search tools, information and market news for home buyers and sellers. All the properties displayed on this website are generated automatically from the Carolina MLS and are updated daily.

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