Monday, October 10, 2011

Charlotte Realtors Report Monthly Sales Increase for Sept. 2011

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 September 2011
(1,970) increased 26 percent compared to September 2010 when closings
totaled 1,564. Compared to August 2011 (2,289), closings were down
13.9 percent.

The average sales price in September 2011 ($196,686) was down 6.5
percent compared to September 2010 ($210,257), and down 4.5 percent
compared to August 2011 ($205,854). The median sales price in
September 2011 ($149,900) decreased 4.5 percent compared to the
September 2010 median sales price of $157,000, and was down 5 percent
compared to the August 2011 median sales price of $158,000.

The average list price in September 2011 ($246,472) increased 5.4
percent from last September's average list price of $233,906, and was
up 4.9 percent from the August 2011 average list price of $235,021.
The residential pending contracts figure for September 2011 (1,913)
was up 14.3 percent compared to September 2010 (1,674). This figure
decreased 15.5 percent compared to August 2011 when pending contracts
totaled 2,263. New residential listings in September 2011 totaled

CMLS distressed housing inventory, or the transactions that deal with
distressed sales, continues to decrease, with the number of
foreclosures for sale in the MLS in September 2011 totaling 662.
Distressed properties comprised 15.9 percent of all new listings in
September 2011 and accounted for 21.4 percent of closings, which
indicates that consumers are absorbing these property types faster
than lenders are listing them.

In April 2011, CMLS began using a new reporting tool to create
reports. In order to report the most up-to-date figures each month,
the tool is constantly "updating history" instead of allowing data to
remain static once it's reported. Therefore, with each new month of
reporting there could be slight variances in what was reported in the
previous month as transactions are updated and adjustments are made
within the MLS system.

For more residential-housing market statistics, visit the
association's website at and click on "Community
Data." For an interview with 2011 association/CMLS President Laurie
Knudsen, please contact Kim Walker.

The Charlotte Regional Realtor® Association is a trade association
that leads, educates and equips members to be productive. It provides
more than 6,700 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 7,300 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.