Some Charlotte Homes selling at or ABOVE 2008 Values!

October 1st, 2009 categories: Selling your home

Why isn’t this baby smiling? The S&P Case-Shiller Index told him Charlotte home values are down (on average) 9% from a year ago. Ah…I see.

No wonder the baby is sad – but wait isn’t the S&P Case Shiller Index based on some sort of average? (If I’m wrong here a big Emily Litella nevermind)

Doesn’t that mean that some (maybe half?) of Charlotte homes were down less than the 9% and some actually sold at or above their 2008 value? I’m not a math wiz and I’m sure the Case Shiller people have this all figured out weighted averages and all but common sense says that every home was not down 9%.

I’d like to know the percentage of Charlotte homes that sold at something better than down 9% — wouldn’t you, curious? If say 20% of Charlotte homes sold at or above 2008 levels – wouldn’t that be something to know? Wouldn’t those legit statistics put a different spin on the market – maybe stoke some optimism – couldn’t hurt – might help. The way these stats are reported the sound bite, quick-blush is everyone is down at least 9%.

Back to Case Shiller report consider this; out of the top 20 urban markets tracked by the (real-estate bible) S&P Case-Shiller Index Charlotte ranks 5th in maintaining home value pretty good compared to most:

• Atlanta                        14.9%
• Minneapolis              17.3%
• Tampa                        18.4%
• Miami                         21.2%
• Detroit                        24.6%
• Phoenix                      28.5%
• Las Vegas                   31.4%

If you’d like to read more here’s link to the Charlotte Observer article: Area home prices rise a bit in July and if you’d like to learn more about how to market your home and not settle for AVERAGE email the TalkCharlotte team.

This entry was posted on Thursday, October 1st, 2009 at 2:26 pm and is filed under Selling your home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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