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Charlotte home sales up 14 percent in September

CHARLOTTE — In another sign of a rebounding residential real estate market, home sales in the Charlotte region rose 14 percent in September over the same month last year, according to figures released Tuesday by the Charlotte Regional Realtor Association.

Based on the number of closings reported by the Carolina Multiple Listing Services, 2,244 homes sold last month, up from 1,968 the same month in 2011.

The median sales price showed significant gains, 6.7 percent, over the same period, from $149,900 in September 2011 to $160,000 last month.

“The Charlotte housing market is steadily improving, with consistent gains in both closed sales and pricing,” CRRA President Jennifer Frontera said in a statement.

“We are experiencing the perfect mix of favorable conditions: high affordability, fewer distressed listings, steady demand and inventory that has finally reached equilibrium at six months’ supply. Inventory, along with the consistent gains in pricing, shows us that we are no longer wedged in a buyer’s market.”

Distressed sales — including foreclosures and short sales — accounted for 15.3 percent of sales in September compared with 20.9 percent in the same month last year. The CRRA did not provide raw numbers for distressed sales.

Tony Brown can be reached at tony.brown@mecktimes.com, (704) 247-2912 or on Twitter at @tonymecktimes.

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