Home / Inside Tract / Charlotte-area home sales jump 35 percent in November

Charlotte-area home sales jump 35 percent in November

CHARLOTTE — Homes sales soared 35 percent in November over the same month last year, making the Carolina Multiple Listing Services area that much less of a buyer’s market.

The CRRA reported the increase in sales Monday in its monthly market activity report. According to the report, November was the 11th straight month for year-over-year increases in selling prices for homes in the 10 counties that fall under the CRRA. Those are Alexander, Anson, Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Montgomery, Stanly and Union.

Home sales jumped from 1,686 in November 2011 to 2,276 last month. The average sales price increase by a less-dramatic 6.2 percent over the same period last year, going from $192,414 to $204,413.

The report also showed inventory continuing to trend downward, decreasing 27.5 percent from last year. That brings the number of homes on the market to a 5.7-month supply, an indicator that the housing market in the counties CRRA tracks are still in bear territory but barely.

In another sign that the market is growing healthier, the number of distressed sales also dropped a substantial 18 percent in November from last year.

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

Leave a Reply

Your email address will not be published. Required fields are marked *