February 2011 Charlotte Condo Market Update

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In February 2011 115 condos sold in the Charlotte area, a 30% decrease from the 165 condos sold in January 2011. February 2011 sales figures increased 16% from February 2010 when 99 Charlotte condos sold.

The average sales price decreased 27% from $187,470 in January 2011 to $136,102 in February 2011. The February 2011 average sales price decreased 21% from the February 2010 average sales price which was $173,067.

Average days on the market decreased 2.6% from 117 in January to 114 in February. February 2010 average days on the market were 265.

Currently there are 1,948 Charlotte condo/townhomes listed for sale in the Charlotte MLS. The average unit is a 2 bed/2 bath unit with 1,455 square feet and an average list price of $208,949, down .2% from January. The average days on the market are 148. Currently 315, or about 16%, Charlotte condos are under contract.

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