November Charlotte Market Stats

This week our listings saw an average of 1.5 showings each.   It is expected that the next two weeks will be slowing from a showing standpoint, but things should pick up nicely again after the first of the year.

Last week we published our monthly E-Newsletter and reported the Charlotte  market statistics for November.   Here is a quick summary of how things look when comparing November 2009 with the same period last year:

Home sales are up a whopping 43%.

The average sales price is holding steady, with no significant increase or decrease.

Average time on market is up about 7%.

Pending home sales are up 22%.

Housing supply is up 23%.

Mortgage interest rates are down to 4.88% from 6.09% a year ago.

All told, the outlook for our area is good for 2010.   It will still be a year of improvement, but assuming no major negative news in the national economy, we should begin making some forward progress.   The increased home sales and pending home sales numbers are an indicator that people are feeling much more confident today than a year ago.

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