The infamous tax credit expired on April 30, and now the question is how many closings will we see, and what “move up” buyers will do after they sell their homes to buyers who took advantage of the tax credit.

Without further adieu…

Houses+condos sold per month in Mecklenburg County

Average price of houses+condos sold in Mecklenburg County

As you can see, it’s a mixed bag. As of now (June 1, 2010), some of the sales from May might not have been reported yet, so it’s possible that number of 688 houses+condos sold in May will go up. But given how “thorough” most lenders are these days, it’s not entirely surprising that people who went under contract in late April might not have closed yet.

But the increase in average price certainly shows that values in the area are quite stable. As we’ve written before, Charlotte hasn’t seen the massive drops in value that other areas have seen, but activity remains low.

Certainly, with more “tax credit” closings to occur in the next 30 days, there is hope that some “move-up” buyers will start hitting the market in the next quarter. Fingers crossed!