Home closings in the Charlotte region climbed 31.2 percent in June from a year earlier, according to the Charlotte Regional Realtors Association’s monthly market activity report released today.
Residential real estate closings in the 10-county area totaled 3,485 last month, up from 2,657 in June 2012, the report states.
Sale prices in the area showed continued improvement as well, marking a 19th consecutive month of gains.
The average sale price in June was $239,842, up 5.2 percent from a year earlier, when prices averaged $227,907. The median sales price — considered a more accurate measurement of trends over time — increased 7.4 percent over the year, rising to $184,000 from $171,250.
New residential listings totaled 4,585 in June, up 9.1 percent from last year. At the same time, inventory plunged 21.9 percent, leaving the region with a five-month supply of homes.
“We’re midway through the year and continue to see positive signs of a recovering market in our region,” Eric Locher, CRRA president, says in the report. “We will continue to watch home prices, which are gradually increasing, time on market, which has decreased substantially, and sellers returning to the marketplace.”
The number of pending sales declined 3.1 percent in June from a year earlier, the report says — but that follows a year-over-year 25.8 percent surge in pending sales in May.
Average list prices climbed 8.8 percent to $259,086 last month, with sellers receiving 95.1 percent of the original list price. That’s up from $238,201 in June 2012, when actual prices measured 92.7 percent of the list price.
Properties are remaining on the market an average of 132 days from listing to closing, down from 148 a year earlier.
Foreclosures and short sales accounted for 7.6 percent of the market’s new listings and 9.5 percent of all closed sales in June.
The CRRA, a trade association with more than 6,000 Realtor members, compiles its monthly market report based on data from its Carolina Multiple Listing Services Inc.
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