The Charlotte area has seen a drop in home sales as both the median and average sales price rise: Home sales fell by more than 8% in August compared to the same month last year regionwide.
Canopy, the Charlotte regional Realtor association, said the average sales price last month was up almost 6% from a year ago, to $501,000.
In Mecklenburg County, home sales were down by a little over 6% year over year, with 1,300 homes sold compared to 1,400 last August. Sellers found trouble getting full price last month, with the number of price cuts skyrocketing by 90%.
Despite that, the average sales price in Mecklenburg County rose 6%, to $577,000. Home listings in the market jumped by 13% in August.
For those who are looking for a more affordable option, the association said the condo market supply has increased by 125% compared to last year.
