Charlotte Regional Realtor® Association (CRRA) Reports
Residential Real Estate Monthly Activity for January 2009

CHARLOTTE, N.C. – CRRA reports on the residential real estate market in this region based on Carolina Multiple Listing Service, Inc. (CMLS) data. The number of closings for January 2009 was 1,258, which is a 37.4 percent decrease compared to January 2008 and a 6.8 percent decrease over last month (December 2008). The average sales price for January 2009 was $189,048, a decrease of 13.5 percent when compared to last January when the average sales price was $218,610. The average listing price of solds in January 2009 ($209,711) decreased 10.2 percent over last January’s average list price of $233,648.
Residential contracts reported in January (1,841) increased 43.3 percent over last month when contracts totaled 1,285. New residential listings for January totaled 5,342. The average days a property was on the market from the time it was listed until it closed (list to close) was 146 days for January. The average days a property was on the market (days on market), excluding the days the property was off the market or pending, was 112.9 for January.
Donna Anderson, CRRA/Carolina Multiple Listing Services, Inc. (CMLS) president says, “This past month’s activity continues to reflect the challenges facing our local and national economy. Now more than ever, consumers should rely on the assistance of a Realtor®, the most knowledgeable resource available, when making decisions about listing, purchasing and selling homes. Real estate, when purchased or sold properly, continues to be a sound investment for consumers.”

- as found in the CRRA press releases