Although its May, I’m reporting and interpreting the Greater Charlotte, NC real estate market data for March’s activity. This is because April’s activity is not available yet.  For March 2010, overall there were 1,900 residential units sold (condo, townhome, house, etc.) vs. 25,526 on the market (7.5% sold in March vs. what was available). This is up 36% from the previous month in February 2010 with 1,397 units sold. The homebuyer tax credit most likely had a large impact on this but we’ll see when we get April’s data since April 30th was the last day to be under contract (this should uptick closings through June 30th which is the closing deadline for that program).  Pending status (under contract) was right at 2,498 for March which is up over 500 units from February 2010. What is interesting to note is when the Pending status increases and stretches out from month to month, its a direct indicator of the longer processing times in the mortgage industry. In our business we are still seeing delays with short sale approvals and timing.

Drilling down a bit, in Union County had the most sales in March with 164 units sold with an average sales price of $259,477. The Lake Wylie market has declined in sales tremendously only producing 23 sales in March with an average sales price of $397,322. The following are the sales numbers for March 2010 for some of the surrounding counties:

Mecklenburg County (N) – sales 159 (avg. sales price $ 183,806)
Mecklenburg County (E) – sales 122 (avg. sales price $ 122,708)
Mecklenburg County (SE) – sales 75 (avg. sales price $ 161,597)
Mecklenburg County (SSE) – sales 74 (avg. sales price $262,975)
Mecklenburg County (S) – sales 153 (avg. sales price $ 363,914)
Mecklenburg County (SSW) – sales 63 (avg. sales price $ 194,830)
Mecklenburg County (SW) – sales 72 (avg. sales price $ 140,859)
Mecklenburg County (W) – sales 57 (avg. sales price $72,000)
Mecklenburg County (NW) – sales 90 (avg. sales price $129,450)
Cabarrus County – sales 148 (avg. sales price $159,000)
Iredell County – sales 90 (avg. sales price $ 138,413)
Lake Norman – sales 72 (avg. sales price $314,500)
Lincoln County – sales 24 (avg. sales price $ 137,864)
Lake Wylie – sales 23 (avg. sales price  $ 397,322)
Gaston County – sales 140 (avg. sales price $ 109,759)
York County – sales 121 (avg. sales price $ 201,386)

Hopefully you found this useful. As always, feel free to give us a call at 704-885-0488 if we can help you with your real estate needs or click here. Take care,

Mike Moulton

Bee Home Solutions, Inc.