Local Market Update from Rich Ferretti

Just in time for the holidays, an homes sales up-swing in progress!!! Here are some statistics:

The Charlotte Regional Realtor® Association reports that the number of closings for October 2009 (2,210) increased 13.6 percent over the previous month when closings were 1,945, which is also up 19.6 percent over 2008.

The average sales price for homes in October 2009 was $196,204-- down 0.3 percent over last month ($196,760) and down 9.5 percent over last year. The average listing price of solds in October 2009 ($218,050) is down less than 1 percent over last month’s list price of $219,925.

The residential contracts reported figure in October 2009 was 2,400 an incerase of 9.1 % over last month when contracts totaled 2,199. This figure is also up 33.5 percent over last year when contracts totaled 1,798.

What does all this mean?

Home sales are on the rise!!!

Also note that mortgage rates continue to make both new and resale home purchases easier: 30 year fixed rates declined to just below 4.8% on average recently, and 15 year rates dropped below 4.3%, (the lowest recorded by the MBA since it began its national rate survey in 1970).

Are you looking for a new home? Let Me Help You!

Just tell me what you are looking for and I will search all of our sources and provide you with a convenient report of all the properties that you may be interested in, complete with photographs of the properties and detailed neighborhood information. Now to buy is NOW!!

Whether you're buying a new home in Charlotte, investing in property or selling a house, feel free to contact me, and I will be happy to help you with all of your real estate needs.

--Rich Ferretti

Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market? Check out www.minthillrealty.com or call Rich Ferretti at 704-564-0807.