- David Harris
- Managing Editor-Charlotte Business Journal
If 2008 was the year Charlotte’s real estate market came crashing down, 2013 was the year it surged as if the boom times of the 1990s had returned.
Granted, the local for-sale housing market had nowhere to go but up. The steady rise in home prices is nonetheless impressive.
Consider: Home prices in metro Charlotte posted year-over-year gains for the 24th month in a row in November, according to the Charlotte Regional Realtors Association. And Charlotte-area home closings were up 15.2 percent from the same time a year earlier.
The association says Realtors closed on 2,619 home sales in November in the 10-county area it tracks, up from 2,274 in November 2012.
The average home sales price in November was $223,725, up 9.2 percent from $204,820 a year earlier. The median sales price — considered a more accurate measurement — rose to $175,000, up 9.4 percent from $160,000 in November 2012.
Properties are remaining on the market an average of 136 days from listing to closing, a decline of 10 days from the November 2012 level.
There were other, anecdotal signs of recovery. For example, some local investors found success in flipping homes. And this month, Premier Sotheby’s International Realty opened an office in SouthPark — its first outside Florida. Observers view that as evidence that the luxury, second-home market is on the rise.
The key question for the new year: How long will such trends continue?
Below is a sampling of our coverage of the return of Charlotte’s residential real estate market during 2013:
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