2009 Real Estate Guide
real estate
Home price trends in Charlotte, N.C.

City-by-city price comps
Charlotte, N.C.
The Queen City is about to be checkmated by the worrisome housing and employment markets. Buyers seem to be waiting for the shakeout in the financial sector, says Chris Porter with John Burns Real Estate Consulting, which expects job losses of nearly 6 percent this year. The area has a moderate amount of overbuilding and overpriced homes, says Bernard Markstein of the National Association of Home Builders, and likely will see the brunt of price declines in the resale market.
Median price end of 2008:$186,300
Median price end of 2007:$204,700
Percent change:-9%
Projected change through Q3 2009:-2.6%
Affordability rating:0.1
Foreclosures in 2008:
(1 for every 69 households)
9,802
Foreclosures in 2007:
(1 for every 69 households)
9,426
Change in foreclosures:4%
Expected to hit bottom:Q3 2009
Percent drop needed to reach bottom:-6.0%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $192,700
Q2 2008 local median price: $201,300
Q3 2008 local median price: $210,900
Q4 2008 local median price: $186,300

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