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Charlotte-area home sales fall 11.5 percent, but average price rises 0.6 percent

Charlotte-area homes sales fell by 11.5 percent in May from the same month last year, while the average sales price rose 0.6 percent, the Charlotte Regional Realtor Association said today.

There were 2,194 closings in May compared with 2,480 in May 2010. But May closings were up 16.6 percent from 1,882 in April.

The average sales price for May was $208,999 compared with $207,711 a year ago. That’s up 2.7 percent from $203,480 in April.

The median sales price in May was $151,995, down 3.2 percent from $157,000 in May 2010 and down 0.7 percent from $153,000 in April.

The average listing price in May was $257,971, up 2.2 percent from $252,446 a year ago and down 2 percent from $257,486 in April.

There were 2,240 pending residential contracts in May, up 13.5 percent from 1,974 a year ago and up 1.8 percent from 2,200 in April. New residential listings in May totaled 4,139.

Also in May, the average number of days a property was on the market from the time it was listed until it closed was 150, down from 154 last month.

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