Charlotte Realtors Assoc. Reports Sales Up for Jan. 2011

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Charlotte Regional Realtor® Association reports that the number of closings for January 2011 (1,414) was up 3.7 percent compared to January 2010 when closings totaled 1,363. Compared to December 2010 (1,885), closings were down 25 percent.

The average sales price for January 2011 ($188,147) was down 6.2 percent compared to January 2010 ($200,592), and was down 3 percent compared to the December 2010 average sales price ($193,910). The average listing price in January 2011 ($217,809) was down 5 percent from last year’s average listing price of $229,214, and was down 1.1 percent from the December 2010 average listing price of $220,130.

The residential pending contracts figure for January 2011 (1,419) was down 22.6 percent compared to January 2010 (1,833). This figure decreased 4.1 percent compared to December 2010, when pending contracts totaled 1,479.

New residential listings in January 2011 totaled 4,006. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 159.7, which is 8.3 days longer than last month. The average number of days a property was on the market (days on market), excluding the days the property was off the market or pending, was 116.7 days, which is about 2.3 days longer than last month.

In January 2011, CMLS changed its reporting structure to report data from the first day of the month to the last day of the month. Prior to this, data was reported from the fifth of the month to the sixth of the next month. CMLS has done everything possible to ensure the accuracy of its statistics; however, we may discover very slight anomalies that will require adjustments and corrections over time.

For more residential-housing market statistics, visit the association’s website at www.CarolinaHome.com and click on “Community Data.” For an interview with 2011 association/CMLS President Laurie Knudsen, please contact Kim Walker.

The Charlotte Regional Realtor® Association is a trade association that leads, educates and equips members to be productive. It provides more than 6,500 Realtor® members with the resources and services needed to conduct ethical, professional, successful and profitable businesses. The association is dedicated to being the region’s primary resource for residential real estate information. The association operates the Carolina Multiple Listing Services, Inc. (CMLS), which has approximately 7,300 Subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a 10-county service area, including the high-growth Charlotte area, as well as listings outside this service area.