Charlotte Real Estate Market: Home Sales and Home Prices
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Charlotte Home Sales, Home Prices Hold Steady in April
Charlotte Metro* Home Sales: Little Change from March to April, 2009
Total Home Sales in April, 1086 , were virtually identical to March sales at 1080 single families. There was some movement within price ranges, sales between $80,000 and $250,000, accounted for 43% of all sales in April, down from 49% in March, while sales below $350,000 dropped from 68% to 65%.
Home sales above $350,000 showed a slight uptick in April, but sales above $500,000 still remained an anemic 45% of April 2008 at 65 sales.
Charlotte Home Prices- Price Decline Stopping?
The total market sold cost per square foot averages were up slightly- 2% – from March to April, but I’ll wait to see median results later in the month before beginning any dance. Generally, at the price points we watch, the square foot average cost of sold property moved around a bit within ranges, but the cost per square foots were relatively stable. Homes in the Under 350K range, sold at an average $79/sf, while homes above $500K saw no change and averaged a $168/sf based on the 65 solds.
Case Shiller reported last week that in February Charlotte home prices declines were solidly inthe top half of the 020 city composite average, and less than half the national average. The rate of price decline was slowing across the country in February Case-Shiller reported.
I will do a regional analysis- home prices by Area of Charlotte, next week.
*Charlotte Metro– I define the Metro region according to our local Carolina MLS Area’s and Sub-Areas. Those areas measured include Area’s 1-12, 13,15,16, Most of 17, all of 42 and 99.
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