Latest Update for the North Charlotte Real Estate Market

Here’s the latest update for real estate in North Charlotte, North Carolina.  At The Ramsey Group we continue to monitor the real estate market in the Charlotte, NC metro area and more particularly in the North Charlotte area.  If you would like to receive our weekly reports simply email us with your request to Mark@TheRamseyGroup.net and we will get the report to you.

Meanwhile, here are some of the basic stats for the real estate market in Charlotte, NC.

• The median listing priceis just over $200,000 - The market for home above $250,000 is moving very slowly while properties under that price are starting to get far more activity than earlier this year. This has remained stable over the past week.
• The asking price averages about $98/square foot.  Obviously, there are many things other than the square footage that affect the value of the property.  So, values start at this amount and then increase or decrease as influenced ed by upgrades, extras or adverse conditions.  This has remained stable over the past week.
• The average Days On Market(DOM)  is 180.  Properties over $250,000 or those with challenges can expect to be on the market for even longer than 180 days.  Aggressively priced and marketed properties can sell much quicker depending on the relationship of the price condition and marketing at the property.  This has increased over that past week. 
• Currently there are 6947 properties on the market.
• This past week 371 properties were absorbed.
• 40% of the properties decreased their price last week.

While real estate agents don’t control the real estate market.  It is important for us to know and understand what is happening in the real estate market for our area and nationally in general.  The Ramsey Group is committed to doing just that.  Please let us know how we can help you.