Charlotte, NC Real Estate Market Update

February 28, 2009 · Print This Article

Here’s an update on the Charlotte, NC Real Estate Market for the end of February 2009. In Charlotte, the average price of homes that are listed for sale is $346,715. The aerage price per square foot is $97 dollars. This is a big change because the average price per square foot for homes for sale in Charlotte, North Carolina has been over $100/square foot for several years.

Another key measurable is the average days on market is 180. This number has been increasing slowly but surely since April of 2008. Homes in Charlotte, NC have been staying on the market for a much longer time than they have in the past several years. Most home sellers understand this. Now the home buyers realize as well that a home that has been on the market for five to six months is common place and not a sign that their is some problem with the home.

One of the most important metrics for home buyers interested in Charlotte, North Carolina is that 39% of the properties have decreased their prices just in the past week. This is a trend that has been going on for some time. Obviously, this will cause the average list price of homes in Charlotte, NC to continue to decrease on a weekly basis. In fact, only 4% of homes were fixed up and flipped.

Written by Mark Ramsey