Charlotte Real Estate Market Report – October

The number of Charlotte NC homes on the market for October in the Charlotte-Gastonia-Rock Hill Metro Area was 19,584 as of 10/31/2011. The average sales price was $194,837, or 90% of the list price, which is $7,309 or 3.6% lower than the average sales price at the same time last year. The average amount of time on the market for residential listings is 5.16 months.

Again, we’re seeing incremental improvements in the greater Charlotte real estate market. The small but welcome decrease in the average time on the market suggests reasons for optimism. The dip in the average sales price, while not welcome news for sellers, is indeed good for new buyers and investors.

An encouraging (though rough!) Black Friday, as well as strengthening in the national jobs market, also give us reason for continued optimism.

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