Union County NC, Homes Sold Report, March, 2009

Case-Shiller just announced their March results this week showing a slight uptick in Charlotte home prices, leading the 20 city index;  I thought I’d compare that with close-in Union County homes sold in March.  There are some interesting trends.  This date is from the Carolina MLS, areas 10/1,2 and3.

March Homes Sold in Union County: Surprising strength in prices.

Cost per square foot are the Average Sold price divided by the average price, so an average CPSF is what I use to compare month to month and year to year.

There were 61 homes sold for under $300,000, the average Cost per square foot was $81/sf,  down from $85/sf in February. However, the 61 homes sold, was a 22% increase over 2008. So prices fell, sales went up.

There were 17 homes sold for under $500,000, but more than $300K, and prices rose from February 3%. Sales were 40% of last year’s pace.

There were 15 homes sold for over $500,000, 37% off March, 2008, but prices were up 17%.

Also interesting, homes in the “first home price range” below $300,000 account for more than 2/3 of the sales. 84% were with conforming money- loans probably below $417K.

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