This article was just posted by our local Realtors Association that shows the improvements in our area in 2010. If trends continue, 2011 should be a good year in our area. Although Foreclosure activity still continues to flood our market, the buyers are also in the market to purchase those properties and activity for January is starting out strong.
December 2010 Market Activity
Contact: Kim Walker
Contact Phone: 704-940-3149
Charlotte Regional Realtor® Association reports
residential real estate monthly activity for December 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 December 2010 (1,885) increased 23.4 percent compared to December 2009 when closings totaled 1,527. Compared to November 2010 (1,487), closings were up 26.8 percent. The average sales price for December 2010 ($193,910) was down 8.4 percent compared to December 2009 ($211,705), and was down 10 percent compared to the November 2010 average sales price ($215,239).
The average listing price in December 2010 ($220,130) was down 7.9 percent over last year’s average listing price of $239,062, and was down 11 percent over the November 2010 average listing price of $247,369.
The residential pending contracts figure for December 2010 (1,479) was up 0.9 percent compared to December 2009 (1,466). This figure increased 2.1 percent compared to November 2010, when pending contracts totaled 1,448.
New residential listings in November 2010 totaled 2,945. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 151.4, which is 3.4 days shorter 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 114.4 days, which is about 7 days shorter than last month.
Yearend totals, region and select counties
In January 2011, CMLS changed its reporting structure to report data from the first day of the month to the last day of the month. Prior to this, data was reported from the fifth of the month to the sixth of the next month. CMLS has done everything possible to ensure the accuracy of its statistics; however, wemay discover very slight anomalies that will require adjustments and corrections over time.
For more residential-housing market statistics, visit the association’s website at www.CarolinaHome.com and click on “Community Data.” For an interview with 2011 association/CMLS President Laurie Knudsen, please contact Kim Walker.