ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties
MARCH 2012
Residential Closings - Entire MLS
Feb. 2011 - Feb. 2012 ASP = Average Sold Price Data Courtesy Carolina MLS.
+21.8 Change in Closed Sales
+21.8% Pending Sales
-5.0%
+2.1% -22.6%
Change in New Listings
Average Sales Price
Total Active Listings
150 Average Days List to Close
8.9 Months Supply of Homes for Sale
There were 1614 total closings in Feb. 2012, up 21.8% compared to Feb. 2011. 64% of all home sales in Feb. 2012 were in the $200,000 and under category. The average closing price for the Charlotte
metro area in Feb. 2012 was $184,775, down 2.1% from Feb. 2011. In Feb. 2012, new listings decreased by 5.0%, pending sales increased by 21.8%, total active listings decreased by 22.6%.
Current Active Listings by Price Range
February 2012 Sales by Price Range
Total Active Listings = 17,811
Total Pending Sales = 23,955 Data Courtesy Carolina MLS.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area February 2012 - By MLS Areas
Residential Single Family, Townhomes & Condos MLS Area
Units 1 Year Closed Change
Average Sales Price
Charlotte - Gastonia - Rock Hill
1237
+23.1
$183,769
All of Mecklenburg County
706
+23.0
$182,230
01 - Mecklenburg County (N)
129
+33.0
$ 143,880
02 - Mecklenburg County (E)
93
+22.4
$ 99,098
03 - Mecklenburg County (SE)
62
+51.2
$ 123,732
04 - Mecklenburg County (SSE)
57
-3.4
$ 272,727
05 - Mecklenburg County (S)
107
+8.1
$ 331,602
06 - Mecklenburg County (SSW)
46
-14.8
$ 193,575
07 - Mecklenburg County (SW)
64
+73.0
$ 137,818
08 - Mecklenburg County (W)
35
-18.6
$ 63,977
09 - Mecklenburg County (NW)
70
+70.7
$ 134,698
10 - Union County
158
+32.8
$ 249,238
11 - Cabarrus County
124
+6.9
$ 171,815
12 - Iredell County
123
+26.8
$ 258,790
13 - Lake Norman
71
+31.5
$ 426,621
14 - Lincoln County
47
+9.3
$166,79
15 - Lake Wylie
21
-8.7
$293,633
16 - Gaston County
113
+20.2
$115,897
17 - York County, SC
128
+26.7
$ 186,086
42 - Mtn. Island Lake
17
+35.3
$179,607
99 - Uptown Charlotte
14
+133.3
$243,214
1614
+21.8
$184,775
TOTAL (for All CMLS Area)
Volume 5, Issue 3
Feb. Home Sales Snapshot +15.8%
+9.6%
Price Range with Strongest Sales: Under $100,000
# Bedrooms Strongest Sales: 4+ bedrooms
+8.0% Property Type Strongest Sales: Single-Family
Data Courtesy Carolina MLS & 10K Research and Marketing.
On the Move - Helen Adams Realty
Volume 5, Issue 3
Page 3
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Feb. 2012 Data Courtesy Carolina MLS.
www.helenadamsrealty.com
Page 4
On the Move - Helen Adams Realty
Volume 5, Issue 3
February 2012 Home Sales Overview Consumer Confidence on the Rise It may be a Leap Year, but February is more of a Connect Month for reporting residential real estate data in 2012. That's because it's a buffer between the traditionally slow winter months and what is potentially going to be an interesting and encouraging spring selling season. But let's not look past brief but brassy February so quickly. After all, it grew a whole day taller this year. Let's give the oft-overlooked month its due because the numbers are mostly positive at first blush.
Data and article excerpts from CMLS &10K Research Marketing.
New Listings in the Charlotte region decreased 5.0 percent to 3,958. Pending Sales were up 21.8 percent to 1,969. Inventory levels shrank 22.6 percent to 17,811 units. Prices were fairly stable. The Median Sales Price increased 0.5 percent to $145,450. List to Close was down 2.4 percent to 150 days. Absorption rates improved as Months Supply of Inventory was down 28.3 percent to 8.9 months. Consumer confidence is as high as it has been in a year, and the Federal Reserve
RANDOLPH ROAD 2301 Randolph Road, Charlotte, NC 28207 BALLANTYNE 15235-J John J. Delaney Dr., Charlotte, NC 28277 LAKE NORMAN 8600 Sam Furr Rd. Suite 150, Huntersville, NC 28078
reported growth in all of its 12 banking districts in 2012 through the first half of February, including more hiring and home sales. There are still some challenges to work through, but pessimism is no longer in vogue. Laments over things like unemployment and high gas prices are being replaced with chatter about job prospects and sensible home shopping. The economy and housing market are by no means recovered, but it's okay to think positive.