The number of Charlotte NC homes on the market for December in the Charlotte-Gastonia-Rock Hill Metro Area was 17,581 as of 12/31/2011. The average sales price was $190,564, or 90% of the list price, which is $3,582 or 1.8% lower than the average sales price at the same time last year. The average amount of time on the Charlotte real estate market for residential listings is 5.06 months.
These numbers tell us that while only incremental improvements in the Charlotte real estate market, the steady (and very encouraging!) decrease in the average time on the market tells me the demand for Charlotte NC homes is becoming not just wider, but deeper. As inventory continues to drop, demand for new construction will inevitably follow.
And again, the average sales price continues to dip. Yes, that's good for new buyers and investors. And it tells us that market corrections are underway - in the long run, that will be good for everyone.
When you factor in the news that employment in the Charlotte region is expected to grow 2 percent this year, faster than the national average, reasons for optimism in the Charlotte NC homes market are growing.
Location Characteristics: It's a good time to take advantage of recent improvements in the Charlotte real estate market. But make sure the agent you select to guide you through the jungle is really on your side.
About Julie P. Tuggle:
Julie Tuggle, Broker/Owner of Carolina Buyer's Agent, has been giving Charlotte NC area buyers the negotiating advantage throughout the home purchase process since 1998. Search the full range of Charlotte real estate including for-sale-by-owner homes, MLS listings, new construction, and foreclosures at www.CarolinaBuyersAgent.com .
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
