Charlotte Home prices are holding steady. Charlotte NC Real Estate home prices have held steady in the first half of 2008, despite slowing sales in the Charlotte area and plummeting values and other hard-hit cities across the country. The average single-family homes sold for $254,933 in Mecklenburg County NC Real Estate during the first six months of 2008. That's down less than 1% from the same period in 2007 when the average single-family homes sold through CMLS close for $256,937.00. This is the first time in seven years that average prices have been flat, though. For the first six months of 2007, the average price was up 7% from the same period in 2006. While some snapshots of Charlotte area home prices showed steeper declines at midyear, prices through the MLS dipped just 1% for the first half of 2008, compared with the same six months the previous year. Home prices here aren’t tumbling, because they didn't shoot up. Values here rose moderately over recent years. While some hot cities in Florida and California were seen double-digit price increases during the boom years, for instance, Charlotte home values were growing by 5% a year or a little more. Now prices are plummeting in those areas, while they level off here.

Unofficially, the Charlotte regional MLS reaches more than 50 miles in every direction, and even farther if you count vacation homes at the beach and mountains. Mecklenburg County NC Real Estate traditionally accounts for about half of sales. Other counties in the MLS: Union, Iredell, Lincoln, Cabarrus, Gaston, and Stanley. Union with its high and suburban development spilling across the Mecklenburg County line from South Charlotte had the highest average home price through the MLS the first half of 2008. The average single-family home closed for 283,719 up about 1% from the same period in 2007. Some popular suburban neighborhoods straddle the Mecklenburg-Cabarrus line, and the average price crept up in that neighboring county, too. The average single-family homes sold for 197,000 from January through June in Cabarrus County, up a bit less than 1%. Neighborhoods within the I-485 Beltway particularly in areas of the Arts District, Midwood, Myers Park, and Cotswold prices have still continue to climb particularly with as many homes that have been redone in those areas although in the second quarter 2009 we did see property values drop particularly in the northwest and the west side of the city due to the large number of foreclosures in starter home neighborhoods.