Home sales increased in the Charlotte region between April and May, but sales remained well below where they were a year ago, according to the Charlotte Regional Realtor Association. Meanwhile, the average sales price of a home in the region was about even with a year ago, but up from April. And more homes were under contract during the month, which could mean higher sales this month.
In a June 9 report, the association said closings total 2,194 in May 2011. That was up 16.6 percent from April (1,882), but down 11.5 percent from May 2010, when closings totaled 2,480.
The average sales price for May 2011 ($208,999) was relatively unchanged (up 0.6 percent) compared to May 2010 ($207,711), and up 2.7 percent compared to the April 2011 average sales price ($203,480).
The median sales price in May 2011 ($151,995) was down 3.2 percent compared to the May 2010 median sales price of $157,000, and was down 0.7 percent compared to the April 2011 median sales price of $153,000.
The association’s report on the area’s residential real estate market is based on data from Carolina Multiple Listing Services Inc. (CMLS).
There were signs that prices are rebounding slightly. The average listing price in May was $257,971, 2.2 percent higher than the average a year earlier, of $252,446. But it was down 2 percent from the April 2011 average listing price of $257,486.
More homes appear to be close to sales, which could bode well for summer sales figures. The residential pending contracts figure for May 2011 (2,240) was up 13.5 percent compared to May 2010 (1,974). This figure increased 1.8 percent compared to April 2011, when pending contracts totaled 2,200.
New residential listings in May 2011 totaled 4,139. The average number of days a property was on the market from the time it was listed until it closed (list to close) was 150, which is four days less than last month.
In April 2011, CMLS began using a new reporting tool to create reports. To report the most up-to-date figures each month, the tool is constantly “updating history,” instead of freezing the data once it’s reported. Therefore, with each new month of reporting, there could be slight variances in what was reported in the previous month as transactions are updated and adjustments made within the MLS system.
For more residential-housing market statistics, visit the association’s website at www.CarolinaHome.com and click on “Community Data.”


