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Pricing up in Charlotte for May 2014

If you're looking to sell a home in a short sale or want to buy, then this information about the Charlotte area is important to know. According to a June 10 report, home prices in the area continue to appreciate, but the number of home sales are down. In May 2013, the area saw more home purchases than this year during the same time period, according to the Charlotte Regional Realtor Association.

According to the Realtors group, 3,193 properties were sold in the area over the month of May, which would include data with short sales involved. That is, unfortunately, a lower number of home sales than in May 2013, which saw a 6.5 percent higher number of sales. Despite this, which would suggest that home values would be falling, home prices have actually been rising in the area. That's good if you want to sell, since you may be able to make more money on your home than in previous months.

The region has seen an average sale price that has risen by around .9 percent to $235,109 in May. Better yet is the fact that the price is not based on only large sales versus cheaply priced sales; the median reflects an average sale price of $185,000, according to the data from Carolina Multiple Listing Services Inc.

On top of this, the area has once again seen growth in the prices of homes this year. Both sales and prices have increased beyond the number of sales and home costs in April for May 2014. The company has suggested that sales will continue as time moves on, since pending contracts are a good signal of how much housing demand there is in the area. The preliminary counts show that there has been a 14.6 percent increase in the number of sales in May compared to May 2013.

Source: Charlotte Business Journal, "Charlotte-area home sales down in May, but prices keep climbing" Jen Wilson, Jun. 10, 2014

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