As of December 13, 2009 there are 698 available single family real estate listings in the Southeast Charlotte NC region (mls area 4) with list prices ranging from $29,900 to $4.99 million. The average real estate listing price for available Southeast Charlotte NC homes is currently $440,626.
Compared to last month, there are slightly fewer available Southeast Charlotte NC single family real estate listings. However the level of real estate inventory is still over 9 months of supply for the region which is an excess level of homes for sale. Available real estate listings continue to outnumber the under contract and recently sold real estate activity for the Southeast Charlotte NC region.
By price range, the highest amount of available Southeast Charlotte NC homes for sale is in the $200,000 range. The under contract and recently sold real estate listing activity has also been highest in this price range.
Even though the amount of real estate activity has been highest in the $200,000 range, the level of real estate inventory is actually lowest below the $100,000 threshold where the recent pace of successfully sold real estate listings is higher than the amount of available Southeast Charlotte NC homes for sale.
The Southeast Charlotte NC region has just over 9 months of real estate inventory right now but when looking more closely at price ranges, the supply of Southeast Charlotte NC homes for sale is at or below 6 months (balanced real estate market conditions) at the entry level price points, then creeps upward as price increases.
Real estate inventory is based on how quickly (or slowly) real estate listings are being absorbed compared to the amount of available homes for sale. Right now the highest level of real estate supply is at the $600,000, $900,000 and $2million+ price points where the pace of recent sold activity is well below the amount of available homes for sale.
In the Southeast Charlotte NC single family real estate market over the $200,000 threshold the current level of real estate inventory is in a state of oversupply with available homes for sale exceeding the pace of successful real estate sales and leading to an elevated level of homes for buyers to consider.
To set up a consultation (via phone or in person), for any questions you may have about buying or selling a home in Charlotte NC and how current real estate market conditions may relate to you, contact us.
Southeast Charlotte NC includes neighborhoods such as Elizabeth, Lansdowne, Stonehaven, Beverly Crest, Providence Plantation, Cotswold, Chantilly, Eastover, Providence Commons, Bishops Ridge and many more. In addition to Charlotte, the town of Matthews is also included in this area of Mecklenburg County NC.
Copyright©2009 by Diane McDermott, All Rights Reserved, “Real Estate Market in Southeast Charlotte NC December 2009″
*Data and statistics based on Area 4 single family information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.