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Charlotte-area home sales, prices rise

Charlotte-area home sales, prices and pending contracts rose over the same month last year, while inventory and days on market fell, the Charlotte Regional Realtor Association said today.

New residential listings also fell.

March closings increased 10.4 percent to 2,098 from 1,900 in March 2011.

The average sales price increased 0.4 percent to $196,182 from $195,336. The median sales price rose 3.5 percent to $154,000 from $148,728.

Also in March, the average list price increased 7.8 percent to $265,741 from $246,520, increasing the percentage of received original list price to 91.3 from 88.2 percent in March 2011.

There were 2,309 pending contracts in March 2,309, up 5.3 percent from 2,193 the same month a year ago.

March’s new residential listings were at 4,736, down 9.1 percent from 5,211.

Inventory — the number of homes for sale — fell 20.8 percent from March 2011, leaving the CMLS region with a 9.4-month supply, down from 13 months during the same time last year.

The average number of days a property was on the market from the time it was listed until it closed was 150, down from 156 in March of last year.

Also, 12.4 percent of new listings in March were distressed, down from 20.6 percent the same month last year.

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