Purchasing real estate now in Charlotte might seem like a risky move. The economy is in a slump and the housing market is temperamental. But if you have the capital and can attain a strong line of credit, purchasing an Charlotte home now is probably a smart idea. That's because homes prices have fallen to their lowest rates in year, and sellers are eager to get stagnant properties off their hands.

The number of residential real estate closings in the Charlotte region grew 6.1 percent in April from March, according to the Charlotte Regional Realtor Association.The average sales price increased 5.2 percent.There were 1,773 closings in April, up from 1,671 in March. The average sales price rose to $201,352 from $191,433.However, closings and sales prices are down significantly from a year ago.

Last month’s closings fell 26.1 percent from April 2008, when there were 2,400 closings. The average sales price dropped 9.1 percent from $221,497 a year ago.

The average listing price of houses sold last month ($228,550) was down 2.8 percent from April 2008’s average list price of $235,127. However, it increased 5.7 percent from March’s list price of $216,135.

Those numbers might be sobering, but keep in mind that it is also a good time to make an investment. If you are in the position to buy, no is the best time. Charlotte's real estate market will recover. It is up to you what price you pay for the home of your dreams.

Michael Russell writes about a variety of subjects. This article discusses Charlotte real estate. For more information about Charlotte real estate, visit the Real Estate Book.