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