The Charlotte real estate market posted some very strong gains in November compared with November 2011.  Home closings were up 21.8%, the median sales price was up 5.8% and the average sales price was up 3.6%.  The number of homes for sale dropped 29.4% while the number of homes closed rose 21.8%.  With fewer homes for sale and more homes being sold, this leads to higher sales prices which is reflected by the increase in the increased average and median home price in Charlotte.  The months supply of available homes is done 45.7%, the days on the market is down 9.4% and the cumulative days on market is down 15.6%.

So, the big question is what does this mean?  The Charlotte housing market is certainly gaining ground and there is no doubt that we have left the “Market Bottom” in the rear view mirror.  As home prices continue to increase, expect more homes to come on the market.  There are actually some very hot neighborhoods in Charlotte where there are not enough homes available to meet buyers demands.

If you are looking to buy or sell a home, now is an excellent time!

Cheers!

Ben Bowen