Charlotte Home Sales Up 21.8 percent in February

The Charlotte Regional Realtor® Association released February 2012 local residential housing activity region based on Carolina Multiple Listing Services, Inc. (CMLS) data.. The number of closings for February 2012 (1,614) increased 21.8 percent compared to February 2011, when closings totaled 1,325.  Both the average and median sales price showed positive increases. The average sales price in February 2012 ($184,775) was up by 2.1 percent compared to the same period last year ($180,940), and the median sales price ($145,450), the best measure of trends over a period of time, showed prices up slightly by 0.5 percent compared to February 2011 when the median sales price was $144,750.

The average list price in February 2012 ($254,902) increased 6.4 percent when compared to the average list price for the same period last year ($239,466), bringing the percent of original list price received measure to 90.7 percent as compared to 87.7 percent last February. February 2012 pending contracts totaled 1,969, an increase of 21.8 percent over last February’s pending contracts (1,616) for the CMLS region.

New residential listings in February 2012 totaled 3,958, down 5.0 percent compared to the same period last year when new listings totaled 4,165. Overall inventory continued its downward trend, down 28.3 percent compared to February 2011, leaving the CMLS region with an 8.9 months’ supply of homes for sale as compared to 12.4 months’ supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 150, which is a decrease of four days when compared to last February when the list to close count totaled 154 days.

For more residential-housing market statistics, visit the association’s website at www.CarolinaHome.com and click on “Community Data.”

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