Pulling Charlotte and Lake Norman Market Stats…

May 12th, 2008 · No Comments

Today, I pulled absorption rates for Mecklenburg, Iredell and Lincoln counties and discovered that overall, the Charlotte area is in a pretty balanced real estate market. Let me explain. For the city of Charlotte, we have 5.71 months of inventory available. In other words, if no homes were to be listed for 6 months, we would have no inventory in 6 months. To break it down, in the $0-250k range, we have 4.64 months of inventory, which means that it’s a sellers market if your home is worth $0-250k! Other numbers… $250-500k has 7.52 months of supply and $500-1million has a 9.38 months of supply. Anything more than $1 million has a 16.29 months of supply. To help you better understand this, if your home is worth $400k, and it is priced at the current market value, it will take 7.52 months to sell. Price it more aggressively and it will sell quicker. You get the point.

Here is the rest of the data I pulled. MSI stands for Months Supply of Inventory.

Mecklenburg County		Lincoln County		Iredell County
Month	MSI	Month	MSI	Month	MSI
Apr-08	4.8	Apr-08	6.4	Apr-08	7.6
Mar-08	10.2	Mar-08	11.9	Mar-08	12.1
Feb-08	12.3	Feb-08	12.8	Feb-08	16.6
Jan-08	9.5	Jan-08	13.5	Jan-08	15
Dec-07	10.2	Dec-07	14.8	Dec-07	15.8
Nov-07	9.1	Nov-07	12.8	Nov-07	14.6
Oct-07	7.7	Oct-07	10.9	Oct-07	10.7
Sep-07	7.9	Sep-07	13.9	Sep-07	11.5
Aug-07	6.3	Aug-07	8.9	Aug-07	10.2
Jul-07	5.6	Jul-07	8.5	Jul-07	8.3
Jun-07	5.1	Jun-07	8.8	Jun-07	7.6
May-07	4.7	May-07	6.8	May-07	6.6
Apr-07	4.7	Apr-07	6.9	Apr-07	7.1