Charlotte NC Residential Market Trends

Market Trends as of June 2008.

The latest figures were released and it shows our market has slowed but there is always and upside.

Closings are down 5.8% compared to sales this time last year(2007) and we currently have 11.4 months of inventory on the shelf. This should help buyers who have been sitting on the fence. Sellers are looking to sell and buyers have plenty of choices.

Closings are down 29% compared to last year and contracts written are down by 32.4%.

Of reported home sales that closed from June thru July 08, 37% closed in 121 days or more, 17% closed between 91 and 120, 22% closed between 61 and 90 days, while 24% closed in 60 days or less. At present, the average days on market at 125.8, which equates to almost 4 months.

Want more information about the Charlotte area real estate market and Real Estate Market Trends? Check out www.richferretti.com