The number of houses sold in the Charlotte area fell 32.1 percent last month, and the average closing price declined 1.9 percent, according to the Charlotte Regional Realtor Association.
The number of closings dropped to 2,400 last month from 3,534 in April 2007.
The average sales price dipped to $221,497 from $225,748 a year earlier.
Houses sold last month were on the market for an average of 133 days.
The statistics cover homes that have existed for at least a year and some newly constructed residences in Mecklenburg, Union, Iredell, Lincoln, Cabarrus, Gaston and Stanly counties.
However, real estate is still very local, and there are pockets such as Myers Park and center city, that are still thriving. This buyers market also presents a great opportunity to invest in Charlotte.
Also, Charlotte was also named the #1 place consumers are wishing to relocate to, according to Relocate- America. http://realestate.msn.com/Buying/Article_mw.aspx?cp-documentid=7498469>1=35000 Many buyers are wanting to move here, but can't until they sell their homes elsewhere. I do think this "pent up" demand will eventually find a booming market here --- perhaps once the election is over. In the meantime, the predicition is for continued slower sales, although the market is still good comparatively to around the nation.
Written by Lori Bee, at Lori@BeeRealty.com or 704-622-8111 for more information.