September 5 2009

Charlotte Real Estate Market Conditions August 2009

by brook

M/I Homes Power Of Eight Promotion

Charlotte, North Carolina, which has enjoyed stable market conditions for some time, is on track to compete with some of the largest cities in the South within the next couple of decades.
It appears that Charlotte real estate prices have lowered slightly since last month’s stats were released, ensuring that Charlotte continues to be a buyer’s market; in fact, the median price of single family homes was at an attractive $217,962 in August. Considering the availability of new homes for sale in Charlotte, many of which are located within prestigious new home communities, this figure is an appealing one!

Of course, the average price appreciation across the entire Charlotte area began flattening at the onset of 2009; and, although prices have been on a slow decline ever since, recent data (like the Charlotte market action index of 15.23) indicates that prices may finally bottom out soon. While that’s good news for sellers, buyers still need not worry; Charlotte’s new home market includes all kinds of buyer incentives on newly constructed homes. One example of this is The Power of 8 promotion from MI Homes (a Charlotte-based builder), which offers up to $32,000 in options for first-time homebuyers. Since the promotion ends soon (just like the government first-time homebuyer tax credit), now is the time to inquire if an offer like this is of interest to you.

 

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