Charlotte Real Estate Market Report | Average Sales Prices | SEPT 2011
As sellers began closing the fire hose on additional market supply, Charlotte’s real estate market is showing a significant inventory reduction. Simultaneously, buyers are absorbing nearly 25% more active Charlotte listings than in 2010.
Just as predicted, due to our typical seasonal fluctuations, we are seeing a bit of a slowing market this month. However, based upon these same variables in seasonal sales, the reduction of inventory coupled with the increase in pending sales, is a positive for Charlotte home sellers.
The good news for Charlotte home buyers, which is not-so wonderful news for our sellers, is that the average sales price has fallen 0.8% year-over-year. The average Charlotte home sales price in 2010 was $205,479 and is currently at $203,898.
Average Sales Price Aug 2011
As demonstrated below, the current average sales price of Charlotte homes ($203,898) is approximately 14% off of the highest historic average sales price (in 2007) of $242,000. Not wonderful news for Charlotte homeowners but, certainly not the dramatic decrease in value that we repeatedly hear in the national media. And if you’ve owned your home since 2004, you’ve seen a 12% average appreciation in your home’s value (from the $180,000 average Charlotte home sales price in 2004).
Historical Data: Average Sales Prices for Homes in Charlotte
If you’re searching for a home for sale in the Charlotte Metro area, there are a variety of ways in which you can search including (but, not limited to):
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