TRENDING UPWARD IN CHARLOTTE/LAKE NORMAN REAL ESTATE
The Charlotte Regional Realtor Association recently released a report based on data by the Carolina Multiple Listing Services Inc. (CMLS) that shows some positive trends in the local real estate market. Comparing April 2
012 statistics with those of the same time period last year, the number of closings are up and home prices have increased, while the number of distressed listings has fallen significantly as has the overall housing inventory in the region.
The number of closings for April 2012 was 2,170, a 15.3 percent increase over last April’s total of 1,882. The average sales price rose by 5.6 percent to $214,779, and the median sales price, the best measure of trends over a period of time, increased by 4.6 percent to $159,995.
The report also showed overall inventory continuing its downward trend, dropping 18.7 percent compared to April 2011, leaving the CMLS region with a 9.7-month supply of homes as compared to a 13.7-month supply at this time last year.
The share of new listings that were distressed in April 2012 was 11.3 percent, compared to 18.7 percent the previous year. Nearly 16 percent of all closed sales in April were distressed, compared to 31.5 percent for April 2011.
Mike Carpino
Owner/Broker
Lake And Town Realty
Mike@LakeAndTown.com
704 301-9264 Mobile
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