Charlotte NC Market Conditions August 2007

So quit reading the newspapers and stop watching CNN-all is not lost here in Charlotte NC real estate!

For single family properties, month ending August 31 2007:

Currently on the market: 18159 (an average of 101 days on the market)

Currently under contract: 3898 (an average of 76 days on the market)

Sold in August: 3516 (an average of 82 days on the market)

Average sale price: $255,756

To get the broader pictures, let's compare year over year to August 2006:

Sold in August 2006: 4235 (a decrease of 17% in units sold)

Average sale price: $240,199 (an increase of 6.4%)

(Due to the changes in the mortgage industry, many folks who were buyers three months ago are now renting until the market stabilizes again. This leaves us with a strengthening rental market. If you're considering investing in real estate for rental purposes, please feel free to call or email. We're glad to help!)