October 2012 CHARLOTTE, NC Real Estate Market Update
There were 2,575 total closings in
October 2012, up 36% from 1882 total closings in October 2011.
62.22%of all home sales in October 2012 were in the $200,000.00 and under category.
Absorption rates improved as Months Supply of inventory was down 44.3% to 6.0 months supply
New Listings in the Charlotte region increased 6.5% to 3,448.Pending sales were up by 58.5% to 2, 783.
Market wide inventory levels shrank 27.3% to 14,922 units
Pending sales in the Charlotte region were up 30.6% overall. The price range with the largest gains in sales was the $200,001 to $300,00 range where they increased 37%.
As the market continues to move slowly toward improvement, there has been a general easing of foreclosures and short sales. Active foreclosures on the market stands at 412 the lowest figure since May 2007 & for short sales the number is 1,028, the smallest number since July 2008.
October 2012 CHARLOTTE, NC Real Estate Market Update
All real estate is local down to the neighborhood you live in contact me today for your free market analysis and let me show you what the market is saying in your area.
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