Charlotte Market Stats for June 2008

This week our listings saw an average of 2 showings each.   This is a slight increase over previous weeks, but it does appear that the average is skewed by a few listings that got more than an average number of showings.

Today our monthly E-Newsletter was published revealing the market stats for Mecklenburg county in June 2008.   Here is a brief summary of the resuts when comparing the data to the same period last year:

The number of home sales was down 34%  

The average home price declined 5.1% to  $263,832

The average days on market is up 31%

Pending home sales are down 35%

Housing supply is up 50%

Mortgage rates are  down 5.7%

This data is about what we can expect given the state of the national economy.   Relative to other markets Charlotte is still faring better than most.   However, its tough to sugar coat the data when all the vital stats are indicating a decline, that is unless you are a buyer.   The bottom line is that sellers  who need to move must employ aggressive pricing to find  contracts for their homes.   There’s really no way around that.  

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