ONthe MOve Market Ac vity and Trends for Charlo e & Surrounding Coun es
DECEMBER 2011
Brought to You by Evelyn McCorkle
Residential Closings - Entire MLS
Nov. 2010 - Nov. 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
+8.7
+12.8
Change in Closed Sales
Pending Sales
-16.3%
-10.3% -24.0%
Change in New Lis ngs
Average Sales Price
149
Total Ac ve Lis ngs
Average Days on Market
9.8 Months Supply of Homes for Sale
There were 1686 total closings in Nov. 2011, up 8.7% compared to Nov. 2010. 64% of all home sales in Nov. 2011 were in the $200,000 and under category. The average closing price for the
Charlo e metro area in Nov. 2011 was $192,472, down 10.3% from Nov. 2010. In Nov. 2011, new lis ngs decreased by 16.3%, pending sales increased by 12.8%, total ac ve lis ngs decreased by 24.0%.
Current Active Listings by Price Range
November 2011 Sales by Price Range
1% 1% 4%
1% 1% 2% Under $100,000
5% 22%
$100,001 - $150K
$200,001 - $300K $300,001 - $450K
18%
28%
$800,001 - $1M
17%
$150,001 - $200K $200,001 - $300K
17%
$450,001 - $600K
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$100,001 - $150K
13%
$150,001 - $200K
12%
Under $100,000
5%
20%
16%
$600,001 - $800K $800,001 - $1M
Over $1 Million
Over $1 Million
Total Ac ve Lis ngs = 18,633
Total Sold November, 2011 = 1686 Data Courtesy Carolina MLS.
Evelyn McCorkle
—
704. 957. 3558
—
emccorkle@helenadamsrealty.com
—
www.evelynmccorkle.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area
Volume 4, Issue 12
Nov. Home Sales Snapshot
November 2011 - By MLS Areas
+14.7%
+4.8%
Residential Single Family, Townhomes & Condos
Price Range with Strongest Sales: Under $100,000
# Bedrooms Strongest Sales: 4+ bedrooms
MLS Area
Units
1 Year
Average
Closed Change Sales Price Charlo e ‐ Gastonia ‐ Rock Hill
1302
+14.7
$194,108
All of Mecklenburg County
757
+21.5
$191,261
01 ‐ Mecklenburg County (N)
131
+37.9
$ 171,985
02 ‐ Mecklenburg County (E)
100
+14.9
$ 99,268
03 ‐ Mecklenburg County (SE)
61
+10.9
$ 124,115
04 ‐ Mecklenburg County (SSE)
55
‐1‐8
$ 246,892
145
+9.8
$ 315,134
06 ‐ Mecklenburg County (SSW)
57
+72.7
$ 183,441
07 ‐ Mecklenburg County (SW)
67
+55.8
$ 158,786
08 ‐ Mecklenburg County (W)
44
+57.1
$ 61,821
09 ‐ Mecklenburg County (NW)
51
+15.9
$134,259
10 ‐ Union County
156
+6.8
$ 251,103
11 ‐ Cabarrus County
130
+5.7
$ 179,655
12 ‐ Iredell County
112
+7.7
$ 245,914
13 ‐ Lake Norman
90
+15.4
$ 334,075
14 ‐ Lincoln County
47
‐11.3
$205,438
15 ‐ Lake Wylie
21
‐12.5
$388,381
16 ‐ Gaston County
121
+2.5
$140,456
17 ‐ York County, SC
136
+14.3
$ 208,045
42 ‐ Mtn. Island Lake
17
+35.3
$179,607
99 ‐ Uptown Charlo e
12
+20.0
$219,658
1686
+8.7
$192,472
05 ‐ Mecklenburg County (S)
TOTAL (for All CMLS Area)
+2.6% Property Type Strongest Sales: Single Family
Data Courtesy Carolina MLS & 10K Research and Marke ng.
On the Move - Helen Adams Realty
Volume 4, Issue 12
Page 3
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Nov 2011 Data Courtesy Carolina MLS.
Evelyn McCorkle
—
704. 957. 3558
—
emccorkle@helenadamsrealty.com
—
www.evelynmccorkle.com
Page 4
On the Move - Helen Adams Realty
Volume 4, Issue 12
November 2011 Home Sales Overview Total Closed Sales Up, Average Home Sales Prices, Inventory & Foreclosures Down Data and ar Home prices are one of the most popular barometers of market vitality, yet they only tell part of the story. So prices may ac‐ company improvements in other indicators such as purchase demand, absorp on rates, seller concessions or market mes. Regional, market‐wide prices fall short by not recognizing the mix of homes that close each month, be it weighted toward single‐ family, lender‐mediated or new construc‐ on. In addi on, price movements o en lag
changes elsewhere in the marketplace. In November, new lis ngs in the Charlo e region decreased 16.3%, pending sales were up 12.8%, inventory levels shrank 24% (a common trend across the country), and average home sales price decreased 10.3%. Foreclosed inventory levels have dropped nearly 75% form their peak in 2010. Not only do forces beyond supply and de‐ mand affect home prices, but other factors
Evelyn MCCorkle Trusted Real Estate Advisor 704.957.3558 emccorkle@helenadamsrealty.com 2301 Randolph Road Charlotte NC 28207
cle excerpts from
outside of housing serve as inputs into the equa on. New job growth and consumer confidence drive household forma ons which in turn fuels purchase demand and pressures prices. Similarly, when real in‐ comes rise, families can afford more house and move‐up buyers become increasingly mo vated. To that end, the jobless rate fell from 9.0 percent to 8.6 percent in Novem‐ ber – the lowest in 2.5 years.