Real Estate Market Update for

Single Family Homes in Mecklenburg County North Carolina Area 5 including:

Charlotte Neighborhoods West of Providence Road and East of Park Road including, Cherry, Dilworth, Myers Park, Barclay Downs, Foxcroft, Beverly Woods, Cameron Wood, South Park, Quail Hollow, Olde Providence, Shadow Lake, Stone Creek Ranch, and Ballantyne. 

Data gathered for November 1 2007 - November 30 2007

Analysis: The data from November reveals a huge 19% increase in the average sold price of single family homes in one of Charlotte's most popular areas.  The increase in the average days on market is a reflection of the number of newly constructed homes that are available on the market.

In November 2007, there were 236 new single family listings added to the market, 114 listings were placed under contract, and 154 sold.

The average sold price increased significantly from $436,702 in November 2006 to $521,943 in November 2007

Sellers received 96.96% of their asking price in November, down slightly from a year earlier when sellers received 97.44% of their asking price

The average days on market increased by 22 days to 74.  The is the highest point in nearly 2 years.

Sincerely;
Jonathan Osman
The Charlotte House Hunter
Charlotte NC Homes, Charlotte Real Estate