Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 5, Issue 5
April 2012 Home Sales Overview Sellers Slowly Regain Pricing Power Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years.
Market Activity and Trends for Charlotte & Surrounding Counties
MAY 2012
Data and article excerpts from CMLS Monthly Indicators
Moral of the story: Price is but a single picture in the gallery. New Listings in the Charlotte region increased 1.5 percent to 4,526. Pending Sales were up 7.8 percent to 2,317. Inventory levels shrank 18.7 percent to 19,633 units. Prices enjoyed a boost. The Median Sales Price increased 4.6 percent to $159,995. List to Close was down 5.8 percent to 145 days. The supply-demand balance stabilized as Months Supply of Inventory was down 29.3
RANDOLPH ROAD 2301 Randolph Road, Charlotte, NC 28207 BALLANTYNE
percent to 9.7 months. When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.
Residential Closings - Entire MLS
April 2011 - April 2012 ASP = Average Sold Price Data Courtesy Carolina MLS.
+15.3% Change in Closed Sales
+7.8% Pending Sales
+1.5%
+5.6% -18.7%
Change in New Listings
Average Sales Price
Total Active Listings
145 Average Days List to Close
9.7 Months Supply of Homes for Sale
15235-J John J. Delaney Dr., Charlotte, NC 28277 LAKE NORMAN 8600 Sam Furr Rd. Suite 150, Huntersville, NC 28078
There were 2170 total closings in April 2012, up 15.3% compared to April 2011. 65% of all home sales in April 2012 were in the $200,000 and under category. The average closing price for the
Charlotte metro area in April 2012 was $214,779, up 5.6% from April 2011. In April 2012, new listings increased by 1.5%, pending sales increased by 7.8%, total active listings decreased by 18.7%.
Current Active Listings by Price Range
April 2012 Sales by Price Range
Total Active Listings = 19,633
Total Pending Sales = 24,262 Data Courtesy Carolina MLS—Based on a rolling 12-month average.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area April 2012 - By MLS Areas Units 1 Year Closed Change
Average Sales Price
Charlotte - Gastonia - Rock Hill
1702
+15.2
$ 213,189
All of Mecklenburg County
987
+11.9
$ 228, 231
01 - Mecklenburg County (N)
162
+9.5
$ 166,506
02 - Mecklenburg County (E)
115
+8.5
$ 119,161
03 - Mecklenburg County (SE)
65
+1.6
$ 120,126
04 - Mecklenburg County (SSE)
95
+8.0
$ 300,736
05 - Mecklenburg County (S)
173
+6.8
$ 409,930
06 - Mecklenburg County (SSW)
92
+48.4
$ 204,948
07 - Mecklenburg County (SW)
76
+7.0
$ 149,357
08 - Mecklenburg County (W)
56
+51.4
$ 72,412
09 - Mecklenburg County (NW)
83
+15.3
$ 167,662
10 - Union County
189
+8.6
$ 250,340
11 - Cabarrus County
175
+17.4
$ 182,745
12 - Iredell County
163
+20.7
$ 226,155
13 - Lake Norman
109
+11.2
$ 504,453
14 - Lincoln County
71
+51.1
$ 289,884
15 - Lake Wylie
30
-11.8
$ 388,530
16 - Gaston County
166
+39.5
$ 127,525
17 - York County, SC
173
+20.1
$ 209,675
42 - Mtn. Island Lake
17
+35.3
$ 179,607
99 - Uptown Charlotte
18
+12.5
$ 361,328
2170
+15.3
$214,779
TOTAL (for All CMLS Area)
On the Move - Helen Adams Realty
April Home Sales Snapshot +20.6%
Residential Single Family, Townhomes & Condos MLS Area
Volume 5, Issue 5
Price Range with Strongest Sales: $200-300,000
+16.1% # Bedrooms Strongest Sales: 4+ bedrooms
Volume 5, Issue 5
Pending Contracts
Page 3
Average Residential Sales Price
+15.8% Property Type Strongest Sales: Condos
Data provided by MLS—Based on accepted contracts for the given month.
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, March 2012 Data Courtesy Carolina MLS. Data Courtesy Carolina MLS & 10K Research and Marketing.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area April 2012 - By MLS Areas Units 1 Year Closed Change
Average Sales Price
Charlotte - Gastonia - Rock Hill
1702
+15.2
$ 213,189
All of Mecklenburg County
987
+11.9
$ 228, 231
01 - Mecklenburg County (N)
162
+9.5
$ 166,506
02 - Mecklenburg County (E)
115
+8.5
$ 119,161
03 - Mecklenburg County (SE)
65
+1.6
$ 120,126
04 - Mecklenburg County (SSE)
95
+8.0
$ 300,736
05 - Mecklenburg County (S)
173
+6.8
$ 409,930
06 - Mecklenburg County (SSW)
92
+48.4
$ 204,948
07 - Mecklenburg County (SW)
76
+7.0
$ 149,357
08 - Mecklenburg County (W)
56
+51.4
$ 72,412
09 - Mecklenburg County (NW)
83
+15.3
$ 167,662
10 - Union County
189
+8.6
$ 250,340
11 - Cabarrus County
175
+17.4
$ 182,745
12 - Iredell County
163
+20.7
$ 226,155
13 - Lake Norman
109
+11.2
$ 504,453
14 - Lincoln County
71
+51.1
$ 289,884
15 - Lake Wylie
30
-11.8
$ 388,530
16 - Gaston County
166
+39.5
$ 127,525
17 - York County, SC
173
+20.1
$ 209,675
42 - Mtn. Island Lake
17
+35.3
$ 179,607
99 - Uptown Charlotte
18
+12.5
$ 361,328
2170
+15.3
$214,779
TOTAL (for All CMLS Area)
On the Move - Helen Adams Realty
April Home Sales Snapshot +20.6%
Residential Single Family, Townhomes & Condos MLS Area
Volume 5, Issue 5
Price Range with Strongest Sales: $200-300,000
+16.1% # Bedrooms Strongest Sales: 4+ bedrooms
Volume 5, Issue 5
Pending Contracts
Page 3
Average Residential Sales Price
+15.8% Property Type Strongest Sales: Condos
Data provided by MLS—Based on accepted contracts for the given month.
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, March 2012 Data Courtesy Carolina MLS. Data Courtesy Carolina MLS & 10K Research and Marketing.
www.helenadamsrealty.com
Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 5, Issue 5
April 2012 Home Sales Overview Sellers Slowly Regain Pricing Power Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years.
Market Activity and Trends for Charlotte & Surrounding Counties
MAY 2012
Data and article excerpts from CMLS Monthly Indicators
Moral of the story: Price is but a single picture in the gallery. New Listings in the Charlotte region increased 1.5 percent to 4,526. Pending Sales were up 7.8 percent to 2,317. Inventory levels shrank 18.7 percent to 19,633 units. Prices enjoyed a boost. The Median Sales Price increased 4.6 percent to $159,995. List to Close was down 5.8 percent to 145 days. The supply-demand balance stabilized as Months Supply of Inventory was down 29.3
RANDOLPH ROAD 2301 Randolph Road, Charlotte, NC 28207 BALLANTYNE
percent to 9.7 months. When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.
Residential Closings - Entire MLS
April 2011 - April 2012 ASP = Average Sold Price Data Courtesy Carolina MLS.
+15.3% Change in Closed Sales
+7.8% Pending Sales
+1.5%
+5.6% -18.7%
Change in New Listings
Average Sales Price
Total Active Listings
145 Average Days List to Close
9.7 Months Supply of Homes for Sale
15235-J John J. Delaney Dr., Charlotte, NC 28277 LAKE NORMAN 8600 Sam Furr Rd. Suite 150, Huntersville, NC 28078
There were 2170 total closings in April 2012, up 15.3% compared to April 2011. 65% of all home sales in April 2012 were in the $200,000 and under category. The average closing price for the
Charlotte metro area in April 2012 was $214,779, up 5.6% from April 2011. In April 2012, new listings increased by 1.5%, pending sales increased by 7.8%, total active listings decreased by 18.7%.
Current Active Listings by Price Range
April 2012 Sales by Price Range
Total Active Listings = 19,633
Total Pending Sales = 24,262 Data Courtesy Carolina MLS—Based on a rolling 12-month average.
www.helenadamsrealty.com