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Charlotte Prices Up In 3rd Quarter, Volume Down

October 20th, 2007 Listed Under: Everything Else

The Good News? The Sold average cost per square foot prices are up 4.97% over 3rd Quarter 2006.

The Bad? Units sales, the number of sales, was off 12.44% over sales in 3rd quarter 2006.

What we measured? Single families, towhnohomes and condominiums SOLD for the following North Carolina counties: Mecklenburg, Union, Iredell, Cabarrus, Gaston, Lincoln, Stanley plus parts of SC in Lake Wylie, and thefull Lake Norman area which includes parts of Catawba county.

A 5% increase for Charlotte as the units sold declined by double digits indicates healthy valuations in a rapidly slowing sales environment. There is no “fluff” or bubble in our marketplace. None. The prices are rock solid, quite a testament to Charlotte’s market values.

Absorption- a simple measure of Solds to Active, is about a 3 month supply of inventory, based on 3rd quarter sales numbers.

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Terry McDonald
I'm the owner/team leader of The McDonald Group at Wilkinson and Associates ERA Powered real estate brokers here in Charlotte NC. A transplanted Washinghtonian, my family and I came from the NYC area in 1993.
Terry McDonald
Terry McDonald

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The McDonald Group
Wilkinson and Associates ERA Powered
8604 Cliff Cameron Dr ST 110
Charlotte NC 28269
704-390-6221 Cell
704-393-0048 Office
Licensed in NC & SC
USAA Certified
ERA Luxury Home Certified

Charlotte Communities Online

Terry McDonald [email protected]   704-351-1519

Bobby McDonald [email protected] 704-351-1519