The number of Charlotte-area listings (As noted by CMLS) sold last month, dropped 34.5 percent compared with August 2007, the steepest drop yet in more than a year of declines.

 

There were 2,469 homes sold in August, which accounts for nearly all existing home sales within about a 50-mile radius and about one-fourth of new home sales. Through August, CMLS sales were down 28 percent, compared with the first eight months last year.

 

The average sales price last month also fell 4.5 percent, to $230,472, according to CMLS.

 

The number of pending sales were also down 20.3 percent, a potential sign weak sales will continue as the historic housing slowdown drags on.

 

Nationwide, the number of contracts signed in July was down 6.8 percent, compared with the same month a year ago, according to the pending home sales index released today by the National Association of Realtors.

 

The Charlotte area posted record results in 2006 as the housing downturn began elsewhere. The regional decline began last year, and rate of drop off has outpaced national levels this year.