The Housing Report
"Republished with permission from The Charlotte Observer.  
Copyright owned by The Charlotte Observer. 

Sept. sustains 2% sales dip from 2000

Home sales in the Charlotte area were down a bit in September, a month in which the world was riveted by events set in motion Sept.11. Sales were down 2percent, compared to the same month last year.

Lorraine Shalvoy of the Charlotte Regional Realtor Association said a dip of only 2percent seemed very good under the circumstances. She said many buyers saw the importance of getting back to business. Like many in the real estate community, she wondered whether the court's Sept.21 ruling on the Charlotte-Mecklenburg schools might have spurred sales. The 4th Circuit Court of Appeals ruled that the schools are unitary, or free of intentional segregation.

Here are other highlights from the monthly report of the Carolina Multiple Listing Services, which serves Mecklenburg and surrounding counties:

Residential contracts, the most current snapshot of sales activity, fell to 1,716 in September from 1,751 the same month last year. That's a drop of 35 contracts, or 2percent.

There were 15,950 active residential listings in September, while 2,565 listings expired or were withdrawn. That's a ratio of 16percent. We've been watching that ratio as another measure of the economy. No change, though: In September 2000, the ratio also was 16percent.

The average listing or asking price for homes, townhouses and condos in September was $178,543. The average closing price was $173,343.

The median closing price for September was $117,000.

Area 5 in southeast Charlotte had the most new active listings, with 485. In that area, 162 homes closed at an average price of $281,627 and median of $205,000. Today's featured homes sold in Area 5 for close to the median.

Allen Norwood