March CRRA sales figures
March update to the Charlotte, NC sales trends. No more filler, just straight to the facts:
Total Active Listings in CMLS (March 2007/2008): 25472/29932 –> 17.5% increase in active inventory
Total Sold (March 2007/2008): 3573/2659 –> 25.6% decrease in year-over-year sales
So, another bad month for Charlotte. We, once again, had lower total sales on greater total inventory. It could be worse though; at March’s sales rate, we have an 11 month inventory of existing homes. Of course, March is usually one of our busier months… but I’ll just leave that alone for today.
Other useful facts:
- Average list price among all active listings is up almost 8% from a year ago.
- Average sales price is down about 1% from year ago.
- Average list price among listings SOLD in march is down about 1% from a year ago. (This means the people who recognize the downturn and price accordingly are the ones selling their homes.)
- In March 2007, homes commanded nearly 97% of list price. In 2008, that figure is down to 94%.
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Wikaf is a Charlotte, NC Real Estate and Foreclosure Blog. I started this blog as a resource to help distressed homeowners by providing some honest information about the foreclosure process. Most of the information, therefore, is general enough for anyone's use. When in doubt, ask though, because North Carolina's laws may differ somewhat from your own. If you're looking to get into the foreclosure business as an investor, I have information for you too. Wanna know about short-sales, public auctions, upset bid periods, or whatever else? Give me a shout.
aaron[at]whatiknowaboutforeclosure[dot]com.
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You can find great local Charlotte, North Carolina real estate information on Localism.com Aaron Biek is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.