Market Activity Report for the Charlotte region, week ending July 16, 2011 as provided by the Charlotte Regional Realtor Association.

During this time buyers appeared more eager to purchase homes than sellers were to list them. This is a positive change when compared to the same time last year when local markets experienced a lull in activity during summer and fall. The following are the stats for the week ending July 16, 2011 as compared to the same time 2010:

  • New Listings activity decreased 20.2% to 894. Representing the amount of new listings placed on the market during the week. New listings for the same time last year were 1,121.
  • Pending Sales Increased by 36.4% to 506. Reflecting a count of properties having accepted or pending contracts for the week. The highest week for pending sales (967 pending sales) last year was the week ending 4/30/2010, which can most likely be attributed to the first time home buyer tax credit extension. Same time last year, pending sales were at 371.
  • Existing Listing Inventory decreased by 19.6% to 22,040 for the total Multiple Listing Service (MLS), reflecting the number of properties available for sale. The same time last year, listing inventory hovered at 27,411.

“This is certainly a move in the right direction, but we are still faced with an over abundance of housing that needs to be sold, therefore the message to sellers remains the same, price aggressively if you want your house to sell,” says Heidi Hines, a local Charlotte, NC/Lake Norman/Highland Creek real estate expert.