Following a very favorable sellers’ market during the first 10 months of 2015, the average listing price of a home for sale in Charlotte for the week ending November 25 declined 2.5 percent from the previous week. The late November price of just under $293,000 represents a decline of 4.8 percent from the week ending November 4. There were approximately 2,350 listings as of November 25.
One-bedroom homes represent the largest decline in price at 2.8 percent, and four-bedroom homes represent the smallest decline at 1.4 percent.
Myers Park remained the most popular neighborhood in Charlotte during November. The average listing price for the week ending November 25 was $1,101,358, which was a decline of .4 percent from the prior week. The number of listings in Myers Park generally remained level throughout the month with only a slight, gradual decline.
Back Creek Church Road jumped from the eighth most popular Charlotte neighborhood for the week ending November 11 to the second most popular by the week ending November 25. Also by November 25, the average listing price in the neighborhood had risen 1.2 percent from the previous week to just under $168,000.
The third most popular Charlotte neighborhood for the week ending November 25 was Prosperity Church Road. Two weeks prior, this neighborhood ranked only ninth among popular Charlotte neighborhoods. The average Prosperity Church Road listing price of $201,665 as of November 25 represents a 5.3 percent decrease from the previous week.
By November 25, Ballantyne West had dropped to the fourth most popular neighborhood in Charlotte from second most popular the previous week. However, the average listing price had increased 1 percent from the prior week to $437,380.
From October 5 to November 15, there were 981 listings of new homes in Charlotte. This number was only about half the number of listings six months before, which was just over 1,800. There were also just over 1,427 listings in November that had been sold or had expired during the period. This was down from 1,954 in May.
Breaking down the statistics, there were 747 new listings of single family homes in November, which is about half the 1,403 listings in May. New listings of condos and townhouses were only 234 in November, which is just over half the 407 in May. Sold or expired condos and townhouse listings were 320 in November, which also represents a downward trend from the 458 in May.
The most recent statistics for single family homes listed in Charlotte are as of December 4 and indicate an average size of 2,254 square feet with an average price per square foot of $106.