Market trends for Charlotte area real estate

In September the average sales price for residential houses and condos was around $200,000 for the Charlotte Regional area. There has been a flurry of activity in the lower priced homes and we see the 1st time home buyer $8,000 tax credit helping that surge.

For the 1st time this year we are seeing more action in waterfront condos at Lake Norman. The 2nd home market has been quiet most of the year. Lower prices and buyer’s feeling that we are at the bottom of the market has helped with an increase of activity.

Most agents that we talk too are still amazed that home prices have continued to drop. Hopefully we are truely at the bottom of the real estate market. For over 21 years I have been selling real estate in the Charlotte area. I never seen a better time to buy.

Rick Knight
Broker in Charge
ERA Knight Realty