Charlotte Regional Realtors See Closings Decline

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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).

The number of closings for July 2010 (1,968) decreased 11.5 percent compared to closings in July 2009 when closings totaled 2,223. The average sales price for July 2010 ($217,320) was up slightly (2 percent) over July 2009’s average sales price ($212,977), and was up less than one percent over the June 2010 average sales price of $215,559. The average listing price of homes sold in July 2010 ($247,660) was up 2.7 percent over last month’s average listing price of $241,039, and was up 3.8 percent from July 2009’s average listing price of $238,629.

The residential pending contracts figure reported in July 2010 (1,802) was down 23 percent compared to July 2009 (2,341), and was down 4 percent over last month (1,880).

New residential listings in July 2010 totaled 5,092. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 142.9, which is about a day faster 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 105.6 days, or nine days faster than last month.

In July 2010, the Carolina Multiple Listing Services, Inc. (CMLS) underwent a system conversion. CMLS staff has done everything possible to ensure the accuracy of this month’s stats; 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 8,000 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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