Charlotte Home Prices & Sales Rise in September

Closings in the 10-county area jumped 14 percent during the month from the same time a year ago. Last month saw 2,244 closings in the Charlotte market, up from 1,968 in September 2011, according to the report released Tuesday.

The average sale price also increased in September, the report shows, marking an eighth straight month of year-over-year gains. Last month’s average home price was $206,051, up 4.8 percent from $196,649 in September 2011. The median sales price — considered a more accurate measurement of trends over time — was up 3.7 percent to $160,000 from $149,900 a year ago.

Average list prices increased 3.1 percent in September to $247,110 from $239,732 in 2011, with sellers receiving more of their asking price — 91.9 percent last month, up from 89.4 percent a year earlier. Pending contracts numbered 2,573 last month, up 36.1 percent from 1,891 during the same time a year ago.

Homes also spent less time on the market in September.

“The Charlotte housing market is steadily improving with consistent gains in both closed sales and pricing,” says Jennifer Frontera, association president. “We are experiencing the perfect mix of favorable conditions: high affordability, fewer distressed listings, steady demand and inventory that has finally reached equilibrium at six months supply. Inventory along with the consistent gains in pricing shows us that we are no longer wedged in a buyer’s market.”

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