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Listed below is the residential real estate market summary for the Charlotte area for the period October 6, 2009 through November 5, 2009:

  • Sold: 2,210; avg. LP $218,050; avg. SP $196,204; %LP/SP 90.02%
  • New Listings: 4,863; avg. price $259,794
  • Under Contract: 2,400; avg. price $217,013
  • Withdrawn: 1,899; avg. price $341,375
  • Expired Listings: 1,610; avg. price $343,767
  • Active Listings: 23,850; avg. price $312,647
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    The number of homes sold during the month of October increased 13.4% compared to September and 19.6% above the level of home sales for October a year ago. The average selling price for the month decreased 0.3% from prior month, but was down 9.5% from a year ago. The first time homebuyer tax credit has been effective in stimulating local home sales and the market prices seems to have leveled off for now.

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    eg.frontThe best new home value in Springfield is now aggressively priced at $649,900, a $150,000 reduction in the original price. With over 4,300 square feet of living space, there is plenty of room for everyone in this great Evans Coghill home. Located in beautful Springfield, Fort Mill’s premier golf community, on a home site that adjoins an undisturbed wooded buffer, you will enjoy the privacy of your rear porch and room in this home.

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    taylor glennTaylor Glenn, located in popular Indian Trail, offers a family-oriented environment with lighted streets and sidewalks on both sides of the streets. The neighborhood amenities include two playgrounds, lighted tennis courts, a soccer field, a kiddie pool, and an Olympic size pool with a lifeguard.

    The Taylor Glenn Community has nearly 400 homes which includes a small section of townhomes. The single family detached homes are mostly 2 story with a few ranches and 1/5 story, and range in size from 1800 to 3500 square feet with three to five bedroom floor plans. Pricing ranges from the high $100,000’s to the high $200,000’s and would fit the budget of the first time home buyer or the those wishing to move up in price or location from an existing home.

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    reserve at gold hillThe Reserve at Gold Hill boasts an excellent location, a million dollar amenity complex with swimming pool, clubhouse, and multi-court airnasium.

    Located just off I-77 at the Gold Hill Road exit, this wonderful neighborhood lies within the highly sought after Fort Mill School district. Getting to Charlotte, nearby Lake Wylie, Carowinds, or to the airport is a snap. You’re also close to Baxter Village with all of the shopping and restaurants that it has to offer. Several golf courses are located nearby, as well as Charlotte Knights Baseball Stadium which is almost right across the street.

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    Earlier this week, the U.S. Senate unanimously passed an extension and expansion of the homebuyer tax credit. This morning, the House of Representatives approved the agreement reached in the Senate by a vote of 403-12. The bill has now passed both chambers and is awaiting the President’s signature, which could be as early as tomorrow!

    Below is a summary of the new modifications in the extension and expansion of the tax credit:

    1) The $8,000 tax credit will be extended and available for first-time purchases before May 1, 2010.

    2) A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify for this provision, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.

    3) Prospective purchasers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.

    4) Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.

    The time could not be better to buy your first home now that prices and interest rates are still down. Consult your Realtor for more details on how to take advantage of this golden opportunity.

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net

    eastlightsmallEdinburgh is a community of 137 single-family homes located in the southernmost corner of Charlotte on Providence Road West between Johnston Road (Hwy 521) and Lancaster Highway – just 2 miles from I-485 and a 20 minute drive to Uptown Charlotte.

    Edinburgh is only minutes from great shopping: Ballantyne Commons, Carolina Place Mall, Stonecrest, and Blakeney are only a short drive away.

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    pineville_historic_downtownJust a few miles south of the Charlotte city line in Mecklenburg County you’ll find the charming suburban town of Pineville. Pineville is best known as the birthplace of James Knox Polk, the 11th president of the United States. It also has a significant place in the history of the area and of the local Indians who dwelled here.

    Known for its laid back small town lifestyle and being Charlotte’s closest neighbor, Pineville also offers a mild year-round climate, gorgeous landscape, low crime rate and a flourishing economy. Pineville has a small town feel with a quaint Main Street all its own, and antique and specialty shops with something for everyone.

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    providence groveCome home to a fabulous South Charlotte neighborhood with pool and cabana, located in historic Waxhaw, North Carolina. Providence Grove is located within the highly acclaimed Union County school district with students attending Kensington Elementary and the brand new Cuthbertson Middle and High Schools.

    This wonderful community offers spacious ranch and 2 story homes with three to five bedrooms on lots ranging from 1/3 to 1/2 acre in size, including basements. This combination of quality, lush surroundings, and distinctive, spacious homesites is unmatched in this amazing Union County location.

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    Madison ParkIf you’re searching for a great home value surrounded by a host of shopping, schools, and churches, look no further than Madison Park. This subdivision, actually a large suburb, is situated between South Boulevard on the west and Park Road on the east, and Woodlawn Road on the north and Tyvola Road on the south in South Charlotte. Madison Park is convenient to Uptown Charlotte, as well as, the new Light Rail Line along South Blvd.

    Homes in Madison Park date back to the ’50’s and ’60’s when craftsmen built homes with bricks and sticks. The homes here are predominately traditional in style and include ranches, split levels, and 2 story homes. Most of the homes are 3 bedroom, 2 bath brick and strongly resemble more expensive bungalows in other parts of Charlotte. The shade trees and winding streets gives the neighborhood a relaxed, serene feel and the character of an established small town neighborhood.

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    Home warranties have become so commonplace in real estate transactions that we sometimes take them for granted. They are a fact of life in just about every contract that is written these days. For example, I advise all of my buyers to write it into their Offer to Purchase regardless of the age of the home. That is because all homes come with the obvious potential of failures and breakdowns that may come into play in the future. Even new homes are prone to have defects which are sometimes overlooked by the builder, as well as, the building inspector.

    A recent home sale in which I was involved brings into focus the great importance of having a home warranty for both the buyers and sellers of any home. This particular sale involved a beautiful full brick home built in 1990 in a popular neighborhood in South Charlotte. The home also had the original HVAC system. However, the home was covered by an existing home warranty that the sellers have had in place for some time.

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    Sun CityLocated just five miles from the North Carolina border and only a short distance from The Queen City of Charlotte, Del Webb’s Sun City Carolina Lakes is just minutes away from shopping, dining, entertainment venues, and award-winning medical facilities. Everything you need for your invigorating, active life style, including the Charlotte Douglas International Airport, is within your reach.

    Sun City Carolina Lakes offers the best in senior living lifestyle and provides residents with unlimited opportunities to learn something new, be creative, shoot some pool, or sit at The Lake House and enjoy the company of new friends and neighbors.

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    withrow downsEscape to country living without leaving Charlotte! Enjoy the peacefulness of this exclusive community with large, wooded home sites and gentle rolling hills, without having to sacrifice the conveniences of Charlotte living. Just minutes from both I-85 and I-485, Withrow Downs allows perfect access to both shopping and major employment. Concord Mills shopping, restaurants, entertainment and Charlotte Motor Speedway are all less than 10 minutes away.

    Take a stroll along the street lit sidewalks and experience a variety of homes are offered in Withrow Downs such as ranch, ranch with bonus room, two story and two story with owner’s suite on the first floor. Choose from features like brick & stone exteriors, sunrooms, bonus rooms and gourmet kitchens.

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    Here are the market statistics for the Charlotte area for single family residential home sales for the period September 6, 2009 through October 5, 2009:

  • Sold: 1,945; avg. LP $219,925; avg. SP $196,760; %LP/SP 89.47%
  • New Listings: 4,701; avg. price $264,713
  • Under Contract: 2,199; avg. price $207,338
  • Withdrawn: 1,536; avg. price $338,373
  • Expired Listings: 1,629; avg. price $332,057
  • Active Listings: 27,576; avg. price $307,006
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    The number of homes sold during the month of September fell 12.4% compared to August and 13.1% below the level of home sales for September a year ago. Average listing price for sold units were down 6.2% from prior month and the average sold price decreased 6.0% below that of August figures. Home sales typically taper off in September reflecting a seasonal slowdown in buyer activity.

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    getImageProvidence Country Club was established in 1989 and has grown to be one of Charlotte’s premier country clubs. Featuring an exquisite Dan Maples designed golf course, the Club offers some of the finest recreational amenities in the area in an easily accessible location.

    The 18-hole Dan Maples course, newly redesigned by Mike Gleason, features a par 72 7,021 yard championship layout which provides a unique challenge to the accomplished golfer as well as the novice golfer. The Clubhouse, a classic Georgian design, combines traditional warmth with modern charm.

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    hamilton lakesThis wonderful KB Home community is one of Charlotte’s hottest communities! It features a pool and cabana, lots of common open space, and a beautiful lake on property. In fact, you’re only a short drive to Lake Wylie with all the boating, fishing, and water recreation that it has to offer.

    The homes range in size from a 1,400 square foot ranch to a 3,000 square foot 4 bedroom two story home with 2 car attached garage. Pricing ranges from the $150,000’s to the $230,000’s.

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