Charlotte Regional Realtor Assoc. Reports Residential Activity for October

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Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for October 2010 (1,695) decreased 23.3 percent compared to October 2009 when closings totaled 2,210. Compared to September 2010, closings increased 2.2 percent. The average sales price for October 2010 ($202,840) is up 3.4 percent over October 2009 ($196,204), but was down slightly, 0.5 percent, over the September 2010 average sales price ($203,799). The average listing price of homes sold in October 2010 ($231,491) was up 6.2 percent compared to October 2009 ($218,050), and was nearly unchanged, down 0.1 percent, over last month’s average listing price of $231,678.

The residential pending contracts figure for October 2010 (1,617) was down 32.6 percent compared to October 2009 (2,400), and was down 2.5 percent over last month (September 2010) when pending contracts totaled 1,658.

New residential listings in October 2010 totaled 3,875. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 148, which is about a day 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 112.5 days, which is nearly unchanged from last month.

In July 2010, CMLS underwent a system conversion. CMLS staff has done everything possible to ensure the accuracy of the October 2010 statistics; however, as with any new system, 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 Association/CMLS President Lyn Kessie, 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 7,300 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 7,900 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.

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