Charlotte Regional Realtors report home sales increasing in April 2012

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Charlotte Regional Realtor® Association reports that the number of closings for April 2012 (2,170) increased 15.3 percent compared to April 2011, when closings totaled 1,882. Both the average and median sales price showed positive increases for a third consecutive month. The average sales price in April 2012 ($214,779) was up by 5.6 percent compared to the same period last year ($203,442), and the median sales price ($159,995), the best measure of trends over a period of time, showed prices up by 4.6 percent compared to April 2011 when the median sales price was $153,000.

The average list price in April 2012 ($272,358) increased 9.2 percent when compared to the average list price for the same period last year ($249,500), bringing the percent of original list price received measure to 92 percent as compared to 88.9 percent last April. April 2012 pending contracts totaled 2,317, an increase of 7.8 percent over last April’s pending contracts (2,150) for the CMLS region.

New residential listings in March 2012 totaled 4,526, up slightly 1.5 percent compared to the same period last year when new listings totaled 4,460. Overall inventory continued its downward trend, down 18.7 percent compared to April 2011, leaving the CMLS region with a 9.7-month supply of homes for sale as compared to 13.7-month supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 145, which is a decrease of nine days when compared to last April when the list to close count totaled 154 days.

The share of new listings that were distressed in April was 11.3 percent, compared to 18.7 percent the previous year. 15.6 percent of all closed sales in April were distressed, compared to 31.5 percent in April 2011.

For more residential-housing market statistics, visit the association’s website at www.CarolinaHome.com and click on “Community Data.” For an interview with 2012 association/CMLS President Jennifer Frontera, 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 6,600 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 7,200 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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