March 2011 Charlotte Condo Market Update

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In March 2011 163 condos sold in the Charlotte area, a 42% increase from the 115 condos sold in February 2011. March 2011 sales figures increased 9% from March 2010 when 149 Charlotte condos sold.

The average sales price increased 20% from $136,102 in February 2011 to $163,240 in March 2011. The March 2011 average sales price increased 7% from the March 2010 average sales price which was $151,666.

Average days on the market decreased 0% from 114 in February to 114 in March. March 2010 average days on the market were 136.

Currently there are 1,942 Charlotte condo/townhomes listed for sale in the Charlotte MLS. The average unit is a 2 bed/2 bath unit with 1,456 square feet and an average list price of $205,441, down 1.7% from Februarys average list price of $208,949. The average days on the market are 150. Currently 360, or about 18.5%, Charlotte condos are under contract, up from 315 in February.

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