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Charlotte-area home sales drop 26 percent

The number of homes sold in the Charlotte region in November fell 25.7 percent from the same month last year, the Charlotte Regional Realtor Association said Wednesday.

There were 1,487 closings for the month, down from 2,000 in November 2009.

Last month’s closings were down 12.3 percent from October when there were 1,695.

The average sales price for November was $215,239, up 10.2 percent over November 2009 when it was $195,244 and 6.1 percent over $202,840 in October.

The average listing price in November 2010 was $247,369, up 14.3 percent over $216,507 in November 2009 and 6.9 percent over $231,491 in October.

The number of pending residential contracts for November fell to 1,448, or 12 percent, from 1,645 in November 2009 and 10.5 percent from 1,617 in October.

There were 3,078 new residential listings in November.

The average number of days a property was on the market from the time it was listed until it closed was 154.8, nearly seven days longer than October.

The average number of days a property was on the market, excluding the days it was off the market or pending, was 121.3, nine days longer than October.

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