Wednesday, June 9, 2010

Charlotte Regional Realtor® Association reports residential real estate increases for May 2010

Charlotte Regional Realtor® Association reports that the number of
closings for May 2010 (2,537) increased 32.7 percent over last May
2009 when closings totaled 1,912. Closings increased 14.3 percent over
last month (April 2010) when closings totaled 2,220. The average sales
price for May 2010 ($212,454) was up slightly (6.6 percent) over last
year's average sales price ($199,243), and is up by 5.5 percent over
April's average sales price of $201,410.

The average listing price of solds in May 2010 ($238,736) increased
6.1 percent) over last month's
average listing price of $225,108, and is up 6.8 percent compared to
last year's average
listing price of $223,470 for May 2009.

The residential pending contracts figure reported in May 2010 (2,059)
is down 12.4
percent compared to last May 2009 (2,350), and is down 31.1 percent
over last month

"Since December, we've seen six consecutive months of sales out-pacing
sales of a
year ago, and May's closings are our largest year-over-year increase
this year," says Lyn
Kessie, 2010 association/CMLS president. "We're hopeful these gains
point to a return
in buyer confidence, as home prices continue stabilizing and mortgage
rates remain
historically low."

New residential listings in May 2010 totaled 4,744. The average number
of days a
property was on the market from the time it was listed until it closed
(list to close) was
141.5, which is about four days less than last month. The average
number of days a
property was on the market (days on market), excluding the days the
property was off
the market or pending, was 116, or six days less than last month.

For more residential-housing market statistics, visit the
association's Web site at and click on "Community Data."

The Charlotte Regional Realtor® Association is a trade association
that leads, educates and equips members to be
productive. It provides more than 7,000 Realtor® members with the
resources and services needed to conduct ethical,
professional, successful and profitable businesses. The association is
dedicated to being the region's primary resource for
residential real estate information. The association operates the
Carolina Multiple Listing Services, Inc. (CMLS), which
has approximately 8,300 Subscribers and is the private cooperative
Realtors® use for access to tens of thousands of
residential listings in a 10-county service area, including the high-
growth Charlotte area, as well as listings outside this
service area.