In Charlotte NC, a luxury home is defined as one that is listed for sale for $500,000 or greater. Of the 75 closed sales in September 2014, only 2 were foreclosures. 92% of these closed luxury sales were for single-family homes, primarily with 4 and 5+ bedrooms; condo/townhouse closed sales for this same period (8%) had primarily 3 and 4 bedrooms. There were 148 new luxury homes added to the market this past month, down 14% from August but up 5% from September 2013 and up 34% from September 2012. Inventory remains high in Charlotte (725) and throughout the entire MLS area (2268), showing a 16.4% increase in Charlotte from 2013 and a 7.6% increase for the entire MLS area from 2013. Months’ supply of inventory also remains high at 7.4; Charlotte’s MSI as a whole is just 3.5. However, luxury homes’ median sales price is $722,650 and Charlotte’s is $175,000 – that’s a big difference! So the MSI stays high because of the small percentage of buyers able to purchase homes in the $700K range. Sellers received an average of 96.3% of their asking price in September 2014, which is an increase from August’s 94.1%.
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About The Charlotte House Hunter Group
Our goal is to become Charlotte’s premier real estate team. Starting with innovative marketing strategies, our agents leverage their expertise in the local market with attention to detail and superior customer service to provide a concierge real estate experience for each and every client looking to buy or sell a home. Founded in 2006, The Charlotte House Hunter Group is based in Charlotte, North Carolina and is a part of Keller Williams® Realty Inc. For more information, please call 704-960-1725 or email firstname.lastname@example.org.