The Office of Federal Housing Enterprise Oversight, who oversees government-backed Fannie Mae & Freddie Mac, has released federal data for the 12-month period ending March 31, 2008. The Charlotte Metro market's housing prices rose 6.16% over the 12-month period.
Charlotte/Gastonia/Concord ranked 14th among metro areas with the highest rates of appreciation. Hickory/Morganton/Lenoir ranked 10th (increasing 6.41%).
CRRA (Charlotte Regional Realtor Association) statistics show that Closings dropped last month (2,400) from those sold during the same month in 2007 (3,534). The average days on the market increased to 133 days.
In summary, if you don't HAVE to sell right now, you may want to reconsider placing your home on the market where there is some pretty stiff competition right now. If you're already on the market, know that it is probably going to take a bit longer than in recent years but, your patience should be rewarded with a fair amount of appreciation. Our slow and steady growth is reflected in Charlotte's our housing prices rise of 6.16% over the last 12-month period.
About the author: Debe Maxwell, ABR is a Charlotte Residential Real Estate Broker, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte, NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit http://www.debemaxwell.com/ for your relocation and/or your local needs. HELEN ADAMS REALTY - 704.491.3310 - DMaxwell@HelenAdamsRealty.com
Copyright © 2008 By Debe Maxwell, All Rights Reserved.. *Charlotte NC Housing Prices Rise 6.16% Over 12-Month Period*