Charlotte Business Charlotte Real Estate and September Case-Shiller Home Price Report
November 25th, 2008 Categories: Real Estate News
Charlotte Homes Prices Fall Slightly in Case-Shiller’s September Report, Nationally Home Prices Fall Over 17%
Charlotte NC Standard and Poor’s September Case-Shiller Report was released this morning and the 20 city index fell 17.4% in September compared to home prices one year earlier. Charlotte home prices held up well against the tidal wave of foreclosures, and the national issues that made September the largest price drop on record, surpassing August’s 16.6% price fall. Home prices from August to September fell 1%. Check out the table below of the 20 City index.
Looking at the 1 year price declines, the right hand columns, falling least (this one month) is Dallas at -2.7%, then Charlotte at -3.5%… the worst, above 30% price decline, Las Vegas, (-31.3%) Phoenix (-31.9%) and a host abopve 25% price loss from California and Miami of course. Here is the complete report from Standard and Poors.
Another major Research Center is coming to the Charlotte area, Legacy Park in Marshville,
over 5000 acres, its all about innovation and jobs in North Carolina…Union County officials announced last week their commitment to Legacy Park, a massive 5000 acre research and development park, modeled after Raleigh’s Research Triangle, but twice the size and mixed use including retail and residential… ambitious? You bet.. but North Carolina understands better than most the importance of business innovation and the key role it has in producing jobs… Union County is moving into the 21st century. Could it be a research center for alternative energy? I hope so… NC already leads in many “green” jobs.
Charlotte is already the home of the Kannapolis based, $1.5B Bio Tech Research Center, built on the old Pillowtex mill site.
Real Estate prices in Charlotte have fallen to 2004 levels,
says our local association of Realtors. Nationally, median home prices fell 11.3 % from October 2008 to October 2207- the largest one year drop on record (since 1968) according to NAR. It seems more certain that President-elect Obama’s stimulus plans will include aide/stimulus for housing– judging by these numbers, it can’t get here soon enough. I’ll post a roundup of some of the ideas in the next few weeks…
Good to see the markets respond positively in the last few days… 500 points on the annoouncement of Geithner, and another rally based on the Citibank rescue and the rest of the economic team taht will lead the nation in 2 months…
There are great home buying opportunite here in Charlotte, at and often below replacement cost. But you need to be buying for the long term, in a community that adds value, and then get a great deal too.
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Moving to Charlotte? Your first Charlotte home?
Have a home buying or home selling questions? I am a Charlotte real estate broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day in Myers Park, Southpark, Matthews and Huntersville, Lake Norman, Waxhaw and Lake Wylie too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser.
If you still haven’t figured out where you might want to live in Charlotte, you may compare area Charlotte home prices and communities, from our MLS based home search below. If you havenb’t already, try my my fact-filled and well received Introduction to Charlotte NC Video (over 9000 You Tube views) and don’t miss the FAQ videos-answering the Big Question- Where to live in Charlote, or where to look for a luxury home in Charlotte? (in the right column just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
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