As we lean toward autumn, home buyer activity increased over the same week in August 2010. Sellers introduced fewer new homes onto the market than during the same week last year. If this trend keeps up, be sure to watch inventory in the weeks and months ahead. Buyers on the fence should know that interest rates and affordable prices are still creating a historic buying opportunity; while fence-sitting sellers should know that you're facing less competition and often making fewer concessions to sell your home.
In the Charlotte region, for the week ending August 27:
• New Listings decreased 16.4% to 848
• Pending Sales increased 25.2% to 506
• Inventory decreased 21.6% to 21,319
For the month of July:
• Median Sales Price increased 1.0% to $163,659
• List to Close increased 0.1% to 146
• Percent of Original List Price Received increased 0.3% to 89.7%
For the complete market report, please visit Charlotte Lake Norman Market Report.
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