Charlotte Condo Market Update For August 2011

In August 2011 178 condos sold in the Charlotte area, an 13.4% increase from the 157 condos sold in July 2011. August 2011 sales figures increased 22.8% from August 2010 when 145 Charlotte condos sold.

The average sales price increased 8.7% from $155,066 in July 2011 to $168,601 in August 2011. The August 2011 average sales price decreased 5.2% from the August 2010 average sales price which was $177,889.

Average days on the market decreased 4.6% from 151 in July to 144 in August. August 2010 average days on the market were 136.

Currently there are 1,501 Charlotte condo/townhomes listed for sale in the Charlotte MLS. The average unit is a 2 bed/2 bath unit with 1,489 square feet and an average list price of $209,641, up 1% from July’s average list price of $207,410. The average days on the market are 155. Currently 271, or about 18%, Charlotte condos are under contract, down from 339 under contract in July.

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