Under contract and sold activity increased for the month of February 2010 in the south Charlotte NC region while the pace of new listings held steady.
Compared to a year earlier, both under contract and single family real estate sales activity were higher in February 2010 than in February 2009.
February 2010 also marked the first increase in under contract real estate activity since early fall of 2009.
The average sales price for single family homes in the south Charlotte NC region was $510,392 in February 2010, down slightly from a month earlier. Over the past 3 months, the average monthly sales prices have remained at their highest levels in more than a year.
The overall average real estate sales price since February of last year is $447,934 for single family homes.
Average days on market remained high at 151 days for south Charlotte NC homes sold in February 2010. So far, 2010’s average days on market have been at the highest level in more than a year.
Sales prices for February 2010 were on average 91.39% of the Final List Price, up just slightly from a month earlier but still on a downward trend from the monthly peak in June of 2009 of 94.92%.
Days on market and sales price/list price ratios ALWAYS require further in depth analysis for anything other than general region wide trends since those statistics only reflect the most recent listing and the final list price (not any price reductions).
The South Charlotte NC area includes neighborhoods such as Myers Park, parts of Dilworth, South Park, Beverly Woods, Beverly Woods East, Foxcroft, Cameron Wood, Mountainbrook, Carmel Station, Barclay Downs, Sturnbridge, Candlewyck, Olde Providence, Raintree, Stone Creek Ranch, Landen Meadows, Piper Glen, Thornhill, Blakeney and many others.
Related Articles: Charlotte NC Neighborhood Real Estate Market Reports
Copyright©2010 by Diane McDermott, All Rights Reserved, “Monthly Real Estate Sales Activity in South Charlotte NC February 2010″
*Data and statistics based on information from Carolina Multiple Listing Service Inc. for single family real estate listings, mls area 5. Information deemed reliable but not guaranteed.