North Carolina is only in the early stages of the national real estate recession with escalating foreclosures, and declining prices in most of its housing markets. It's been one of the country's strongest housing markets with appreciation that didn't get out of whack.

North Carolina has become a new sort of retirement community for many, and the state is doing much better than most others and it should see less severe fall out from the mortgage mess than most other states.

In ten years more than 135,000 new homes have been built in the Charlotte area. The inventory of new homes is lean, but the inventory of resale homes is growing, which has slowed real estate sales.

As one of the country's largest financial centers, Charlotte has eluded a direct hit from the mortgage mess.


Courtesy: HousingPredictor.com

January 31, 2008

Charlotte is 1 of just 3 places where home values are up 10:48 AM

10:48 AM EST on Wednesday, December 26, 2007

By STEPHEN BERNARD / Associated Press

NEW YORK -- There are only three places in the country where homes prices are rising -- and Charlotte, N.C., is at the top of that very short list.

Along with Charlotte, Portland, Ore. and Seattle posted year-over-year home price appreciation in October, with Charlotte posting the largest gains at 4.3 percent, according to the Standard & Poor's/Case-Shiller home price index released Wednesday.

The index found that nationwide, U.S. home prices fell in October for the 10th consecutive month, posting their biggest monthly decline since early 1991. The record 6.7 percent drop marked the 23rd consecutive month of price deceleration.

"No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim," said Robert Shiller, who helped create the index, in a statement Wednesday.

The previous record decline was a drop of 6.3 percent, recorded in April 1991.

The S&P/Case-Shiller home price index tracks prices of existing single-family homes in 10 metropolitan areas compared with a year earlier. A broader index of 20 metropolitan areas fell 6.1 percent. Among the 20 metropolitan areas used in the broader index, 11 posted record monthly declines.

Miami posted the largest decline among the 20 markets reviewed. Home prices in the Miami metropolitan area fell 12.4 percent in October compared with the same month last year, surpassing Tampa, Fla. as the worst-performing city. Tampa posted a year-over-year loss of 11.8 percent.

Besides those two cities, Detroit, Las Vegas, Phoenix and San Diego also posted double-digit year-over-year declines.

Atlanta and Dallas, which had previously been posting price appreciation, fell in October compared with a year earlier. Prices fell 0.7 percent in Atlanta and 0.1 percent in Dallas.

All 20 cities in the broader index posted month-over-month declines, with San Diego posting the largest decline of 2.6 percent.

The Crossings Charlotte Real Estate Market Conditions

The Crossings Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find The Crossings real estate statistics for the 1st week of October.

Total number of homes on the market: 19

New homes on the market this week: 1
Number of homes entering escrow this week (pending): 0
Number of homes closing escrow this week (sold): 2
Number of homes expired this week: 1
Average Days on Market over the last 30 days: 80.6 - Team Freeman's average is 55.4!

Hamilton Green Charlotte Real Estate Market Conditions

Hamilton Green Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Hamilton Green real estate statistics for the 1st week of October.

Total number of homes on the market: 5

New homes on the market this week: 0
Number of homes entering escrow this week (pending):
Number of homes closing escrow this week (sold): 0
Number of homes expired this week: 0
Average Days on Market over the last 30 days: 15.5

Planters Walk Charlotte Real Estate Market Conditions

Planters Walk Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Planters Walk real estate statistics for the 1st week of October.

Total number of homes on the market: 34

New homes on the market this week: 8
Number of homes entering escrow this week (pending): 0
Number of homes closing escrow this week (sold): 3
Number of homes expired this week: 0
Average Days on Market over the last 30 days: 71 - Team Freeman's Average - 55.4!

Lake Park Real Estate Market Conditions

Lake Park Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Lake Park real estate statistics for the 1st week of October.

Total number of homes on the market: 42

Brandon Oaks Real Estate Market Conditions

Brandon Oaks Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Brandon Oaks real estate statistics for the 1st week of October.

Total number of homes on the market: 52

Hamilton Green Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Hamilton Green real estate statistics for the 4th week of September.

Total number of homes on the market: 20

New homes on the market this week: 2
Number of homes entering escrow this week (pending): 1
Number of homes closing escrow this week (sold): 2
Number of homes expired this week: 0
Average Days on Market over the last 30 days: 63.8 - Team Freeman's average is 55.4!

The Crossings Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find The Crossings real estate statistics for the 4th week of September.

Total number of homes on the market: 20

New homes on the market this week: 2
Number of homes entering escrow this week (pending): 1
Number of homes closing escrow this week (sold): 2
Number of homes expired this week: 0
Average Days on Market over the last 30 days: 63.8 - Team Freeman's average is 55.4!

Planters Walk Real Estate

Here at the Team Freeman Home Selling Team we are continuously monitoring local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Planters Walk real estate statistics for the 4th week of September.

Total number of homes on the market: 29

New homes on the market this week: 0
Number of homes entering escrow this week (pending): 2
Number of homes closing escrow this week (sold): 2
Number of homes expired this week: 0
Average Days on Market over the last 30 days: 34.6