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Local Market Report
Charlotte Regional Realtor® Association reports residential real estate monthly activity for February 2010
CHARLOTTE, N.C. – Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for February 2010 (1,397) was up 3.6 percent over last February 2009 when closings totaled 1,348. Closings increased 2.5 percent over last month (January 2009). The average sales price for February 2010 ($191,288) was up 4.6 percent over last year’s average sales price ($182,865); however, it decreased slightly, by 4.6 percent, over January’s average sales price of $200,592. The average listing price of solds in February 2010 ($216,605) increased 5 percent over last February’s average listing price of $206,172.
The residential pending contracts reported figure in February 2010 (1,954) was up 14 percent compared to last February 2009 (1,712), and is up 6.6 percent over last month.
“We are pleased that closings, contracts and the average sales price figures are up compared to this time last year,” says Lyn Kessie, 2010 association and CMLS president. “With the spring selling season upon us and the tax credit expiring, we are hopeful that this trend will continue. It is critical that distressed properties in the MLS be absorbed so that stabilization can continue to occur in our local market.
” New residential listings in February 2010 totaled 4,918. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 153.6, which is nearly a week longer than last January 2009. The average number of days a property was on the market (days on market), excluding the days the property was off the market or pending, was 117.3, which is about four days faster than last month.
For more residential-housing market statistics, visit the association’s Web site at www.CarolinaHome.com and click on “Community Data.”
