Local Market Report

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 December 2009 (1,527) was up 13.1 percent over last year when closings totaled 1,350. The average sales price for December 2009 ($211,705) was up 5.7 percent over last year’s average sales price ($200,226), and was up 8.4 percent over last month’s average sales price of $195,244. The average listing price of solds in December 2009 ($239,062) increased 10.4 percent over last month’s list price of $216,507.

The residential pending contracts reported figure in December 2009 (1,466) increased 14.1 percent over last year when contracts totaled 1,285.

“Although December and the holidays are typically slower sales times, we are pleased that closings, the average sales price and pending contracts, continue to hold steady and are up over last year,” says Donna Anderson, association and CMLS president. “The fact that pending home sales are up shows the local market has gained some amount of momentum. However, it might be early spring before we start to see increases in sales activity, as homebuyers will again turn their attention to the recently extended and expanded tax credit.”

New residential listings for December 2009 totaled 3,094. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 143.8, which is about a day longer than last month. 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 116.4, which is nearly unchanged compared to last month.

For more residential-housing market statistics, visit the association’s Web site at www.CarolinaHome.com and click on “Community Data.”

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