Here are the just-released November, 2010 real estate statistics from the Charlotte Regional Realtor Association.
I just heard a summary of these numbers on a radio news report. They said, “good news- average prices are up!” As I’ve mentioned before, these are averages of sales. Of course, that could mean individual prices are up, or more likely it means that higher priced houses are selling and pulling the average up. You should not be tempted to apply these average price increases to any situation that you face, either in terms of expectations of selling a property for more than before or having to pay more than before for purchasing a property. When sales are going down, you can pretty well count on individual prices not going up. The point to take from this is that although sales are down, there are still lots of sales happening. For all those sellers and buyers, they’ve come to agreement on price and terms and closed the deal. Don’t think that housing sales are dead. Sales happen when the parties involved look at the market in realistic terms and act according to current property values in the general location of the property involved. That’s why we do a current market analysis of similar properties when working with sellers and buyers.
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 November 2010 (1,487) decreased 25.7 percent compared to November 2009 when closings totaled 2,000. Compared to October 2010, closings decreased 12.3 percent. The average sales price for November 2010 ($215,239) was up 10.2 percent over November 2009 ($195,244), and up 6.1 percent over the October 2010 average sales price ($202,840). The average listing price in November 2010 ($247,369) was up 14.3 percent over last year’s average listing price of $216,507, and was up 6.9 percent over last month’s (October 2010) average listing price of $231,491.
For more residential-housing market statistics, visit the association’s website at http://www.carolinahome.com/