What an incredible week we had in the Charlotte real estate market! Lots of buyer activity resulting in homes MOVING–great news for our sellers!
This week, we’re going to focus on the Charlotte (proper) market–single family homes and Charlotte condos and townhomes. Let’s take a look at the sales in the Charlotte market during this past week:
SINGLE FAMILY HOMES (There are currently 3,315 homes for sale in the Charlotte (proper) market)
CLOSED SALES DATA: 87 single family homes in the Charlotte proper market this week:
List Price: $158,175
Sales Price: $148,934
Avg. List to Sales Price Ratio: 94%
Avg. Heated Square Feet: 2,027
Price Per SF: $73.48
Average Days on the Market: 101
PENDING DATA: 231 single family homes in the Charlotte proper area went into Escrow this week:
List price: $$231,286
Avg. BR/BA: 3/2
90 Average days on the market
CONDOS/TOWNHOMES (There are currently 1,158 condos and townhomes for sale in Charlotte)
CLOSED SALES DATA: 29 Charlotte condos and townhomes were Closed this week (Charlotte Proper):
List Price: $122,856
Sales Price: $117,123
Avg. List to Sales Price Ratio: 95%
Avg. Heated Square Feet: 1,381
Price Per SF: $84.81
Average Days on the Market: 118
PENDING DATA: 65 condos and townhomes in the Charlotte proper area went into Escrow this week:
List price: $153,828
Avg. BR/BA: 2/2
112 Average days on the market
*Above data includes Charlotte only. Contact us for more specific community & complex sales and market statistics.
With 3,315 single family homes for sale in the Charlotte market, and 87 Closed sales this week, the average market absorption in Charlotte proper shows a 8.86 month supply–a buyers market! Average days on the market for homes Closed this week were 101 and the homes that are now in Escrow were on the market for 90 days–a 21-day reduction for our single family home sellers in Charlotte!
Charlotte condos and townhomes are becoming stronger by the week. With 1,158 active condos and townhomes for sale in the Charlotte market and 29 Closed this week, there is an average 9.29 month supply of condos (a far cry from the previous 22-month supply in 2010!). Days on the market for those sold this week averaged 118 and the 65 that went under Contract this week were on the market an average of 112 days.
Great news for our Charlotte home buyers! If you’re looking to buy a home in the Charlotte area, NOW is the time to move! Interest rates are at historic lows--get in while the gettin’ is good! Contact your Charlotte home specialists for more information on specific community markets and for your luxury home search needs.
Have a wonderful weekend everyone! Here’s the news from Savvy for the week…