October Stats of Single Family Home Listings for Surrounding Area

October 2009 Market Activity

Charlotte Regional Realtor® Association reports residential real estate monthly activity for October 2009

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 October 2009 (2,210) increased 13.6 percent over last month when closings totaled 1,945, and it is also up 19.6 percent over last year. The average sales price for October 2009 ($196,204) is down 0.3 percent over last month ($196,760) and down 9.5 percent over last year. The average listing price of solds in October 2009 ($218,050) is down less than 1 percent over last month’s list price of $219,925.

The residential contracts reported figure in October 2009 (2,400) increased 9.1 percent over last month when contracts totaled 2,199. This figure is also up 33.5 percent over last year when contracts totaled 1,798.

“The pending residential real estate contract number is up significantly over last year, which reflects the overall impact of the first-time homebuyer tax credit on sales in this market,” says Donna Anderson, association and CMLS president. “And thanks in part to Realtors® who responded to the National Association of Realtors® Call for Action to extend and expand the tax credit, we are optimistic that the sales momentum will continue. This is especially true now that the credit has been made available to homebuyers who have lived in their homes for at least five consecutive years within the last eight years.”

New residential listings for October 2009 totaled 4,863. The average days a property was on the market from the time it was listed until it closed (list to close) was 140.7, which is two days less than last month. The average days a property was on the market (days on market), excluding the days the property was off the market or pending, was 112.4, which is three days less than last month.

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