Charlotte Condo Market Update For May 2011

In May 2011 167 condos sold in the Charlotte area, an 11% increase from the 150 condos sold in April 2011. May 2011 sales figures decreased 7% from May 2010 when 180 Charlotte condos sold.

The average sales price decreased 3.5% from $164,799 in April 2011 to $159,046 in May 2011. The May 2011 average sales price decreased 1.5% from the May 2010 average sales price which was $161,494.

Average days on the market decreased 8% from 138 in April to 127 in May. May 2010 average days on the market were 128.

Currently there are 1,770 Charlotte condo/townhomes listed for sale in the Charlotte MLS. The average unit is a 2 bed/2 bath unit with 1,463 square feet and an average list price of $205,205, down 2.4% from April’s average list price of $210,237. The average days on the market are 157. Currently 286, or about 16%, Charlotte condos are under contract, down from 299 under contract in April.

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