The average sales price in September 2012 ($206,051) was up 4.8 percent compared to the same period last year ($196,649), and the median sales price ($160,000) - the best measure of trends over a period of time - showed prices up 6.7 percent compared to September 2011 when the median sales price was $149,900. These indicators mark eight months of year-over-year price gains.
The average list price in September 2012 ($247,110) increased 3.1 percent when compared to the average list price for the same period last year ($239,732), bringing the percent of original list price received measure to 91.9 percent compared to 89.4 percent last September. September 2012 pending data showed contracts totaled 2,573, up 36.1 percent compared to the previous period when contracts totaled 1,891.
Association/CarolinaMLS President Jennifer Frontera said, "The Charlotte housing market is steadily improving with consistent gains in both closed sales and pricing. We are experiencing the perfect mix of favorable conditions: high affordability, fewer distressed listings, steady demand and inventory that has finally reached equilibrium at six months supply. Inventory along with the consistent gains in pricing shows us that we are no longer wedged in a buyer's market."
New residential listings in September 2012 totaled 3,290, a decrease of 3.5 percent compared to the same period last year when new listings totaled 3,409. Overall inventory for the CarolinaMLS region was down 26.9 percent compared to last September, leaving the CarolinaMLS region with an 6.4-months' supply of homes for sale.
Homes in September spent less time on market. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 150 days, which is 18 days less than last September. Days on Market until sale (DOM) totaled 111 days, which is 15 days less than last September.
Foreclosures and short sales, or distressed sales, made up 12 percent of all new listings compared with 16.5 percent last year, while 15.3 percent of closed sales were distressed, down from 20.9 percent last September. Foreclosures continued to sell the fastest at 60 days list to close.
For more residential-housing market statistics, visit the association's website at www.CarolinaHome.com and click on "Community Data." For an interview with 2012 association/CarolinaMLS President Jennifer Frontera, 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 6,000 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. (CarolinaMLS), which has approximately 7,200 Subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a multi-county service area, including the high-growth Charlotte area, as well as listings outside this service area.
