Closings for the month of July increased 9.8% over June, but remain 18.3% below the number of closed transactions for July, 2008. The comparison of the figures for June 2008/2009 indicated a deficit of 25%. The figures for July clearly show an improved housing market. A decrease of 2.6% in average sales price for July over June could be an indication that buyers are taking advantage of attractive home prices and are driving the sales figures. The average sales price is still down 7.6% from July a year ago.
New listings were up 14.2%, but the average listing price decreased 4.4% compared to June. Perhaps, motivated sellers are increasing conscious of sagging market pricing and are pricing their listings accordingly. It will be interesting to see the impact that this has on closed sales prices over the coming months.
The Charlotte housing market continues to show improvement and strengthening. The number of closings are rebounding in response to decreased sales prices and apparent unstable market conditions.
Other reports show that the first time home buyers are dominating the housing market. These buyers are focused on less expensive home pricing and fewer frills that are guiding their purchase decisions.
If you're thinking of buying a home, now is the best to enter the Charlotte market. The market has competitive pricing and we have a wonderful inventory of new and resale single family homes and condominiums all over the Charlotte area.
Search for homes for sale along with area maps of Charlotte
Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net
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