April 2012 Charlotte Housing Market Report

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 April 2012 (2,170) increased 15.3 percent compared to April 2011, when closings totaled 1,882. Both the average and median sales price showed positive increases for a third consecutive month. The average sales price in April 2012 ($214,779) was up by 5.6 percent compared to the same period last year ($203,442), and the median sales price ($159,995), the best measure of trends over a period of time, showed prices up by 4.6 percent compared to April 2011 when the median sales price was $153,000.

The average list price in April 2012 ($272,358) increased 9.2 percent when compared to the average list price for the same period last year ($249,500), bringing the percent of original list price received measure to 92 percent as compared to 88.9 percent last April. April 2012 pending contracts totaled 2,317, an increase of 7.8 percent over last April’s pending contracts (2,150) for the CMLS region.

New residential listings in April 2012 totaled 4,526, up slightly 1.5 percent compared to the same period last year when new listings totaled 4,460. Overall inventory continued its downward trend, down 18.7 percent compared to April 2011, leaving the CMLS region with a 9.7-month supply of homes for sale as compared to 13.7-month supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 145, which is a decrease of nine days when compared to last April when the list to close count totaled 154 days.

The share of new listings that were distressed in April was 11.3 percent, compared to 18.7 percent the previous year. 15.6 percent of all closed sales in April were distressed, compared to 31.5 percent in April 2011.

Speak Your Mind

*