Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 4, Issue 8
July 2011 Home Sales Overview Indicators Suggest Improving Conditions in Home Sales and Inventory Now that we've reached the height of summer, we're beginning to move beyond comparisons to the 2010 “homebuyer’s tax incentive market”. Qualified buyers may find more attractive opportunities now than during either of the recent tax credits. Interest rates should hold their ground around five percent, though a shift in the federal credit rating could change that. A few indicators suggest improving condi-
Market Activity and Trends for Charlotte & Surrounding Counties
AUGUST 2011
Data and article excerpts from CMLS & 10K Research Marketing.
tions. New listings in the Charlotte region decreased 27.1 percent, pending sales were up 17.0 percent, and closed sales enjoyed a 9.7% boost. Inventory levels shrank 21.1 percent, but consumers are still finding terrific opportunities. Buyers absorbed homes more quickly in July, as months supply of inventory was down 11.5 percent. Second quarter GDP growth was 1.3 percent after a
0.4 percent gain in the first quarter. We added 117,000 new jobs in July, a stronger gain than expected. Even though a budget deal has been reached, challenges persist. Changes to Fannie, Freddie and the mortgage interest deduction are still in play. As consumers absorb distressed inventory and labor conditions improve, the wheels of recovery grind on.
www.melissabrownhomes.com
Residential Closings - Entire MLS
July 2010 - July 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
+9.7
+17%
-27.1%
-1.5%
-21.1%
150
Change in Closed Sales
Pending Sales
Change in New Listings
Average Sales Price
Total Active Listings
Average Days on Market
12 Months Supply of Homes for Sale
There were 2173 total closings in July 2011, up 9.7% compared to July 2010. 68% of all home sales in July 2011 were in the $200,000 and under category. The average closing price for the Charlotte
metro area in July 2011 was $213,354, down 1.5% from June 2010. In July 2011, new listings decreased by 27.1%, pending sales increased by 17%, and total active listings decreased by 21.1%.
Current Active Listings by Price Range
July 2011 Sales by Price Range
2% 1%
1% 1% 3% Under $100,000
3% 5% 20%
$100,001 - $150K
11%
$300,001 - $450K
18%
17%
18%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 21,730
$150,001 - $200K $200,001 - $300K
34%
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$100,001 - $150K
12%
$150,001 - $200K $200,001 - $300K
Under $100,000
5%
16% 18%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold July, 2011 = 2173 Data Courtesy Carolina MLS.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area July 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos MLS Area
Units
1 Year
Average
Closed Change Sales Price Charlotte - Gastonia - Rock Hill
1721
+9.5
$219,920
All of Mecklenburg County
999
+9.4
$227,856
01 - Mecklenburg County (N)
156
-9.3%
$ 202,848
02 - Mecklenburg County (E)
117
+7.3
$ 115,997
03 - Mecklenburg County (SE)
79
+31.7
$ 125,099
04 - Mecklenburg County (SSE)
88
+3.5
$ 304,549
192
+12.9
$ 374,194
06 - Mecklenburg County (SSW)
86
+34.4
$ 230,614
07 - Mecklenburg County (SW)
72
+44.4
$ 127,789
08 - Mecklenburg County (W)
47
-16.1%
$ 65,037
09 - Mecklenburg County (NW)
88
+8.6
$156,132
10 - Union County
218
+7.9
$ 272,367
11 - Cabarrus County
166
+19.4
$ 182,870
12 - Iredell County
140
+2.2
$ 249,909
13 - Lake Norman
98
+5.4
$ 477,369
14 - Lincoln County
54
+28.6
$ 214,613
15 - Lake Wylie
32
-20%
$318,782
16 - Gaston County
149
+3.5
$ 127,225
17 - York County, SC
178
+8.5
$233,365
42 - Mtn. Island Lake
22
+41
$226,765
99 - Uptown Charlotte
15
+15.4
$285,933
2173
+9.7
$213,354
05 - Mecklenburg County (S)
TOTAL (for All CMLS Area)
Volume 4, Issue 8
On the Move - Helen Adams Realty
July Home Sales Snapshot +8.4% Price Range with Strongest Sales: Under $100,000
-2.5% # Bedrooms Strongest Sales: 4+ bedrooms
Volume 4, Issue 8
Page 3
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
-7.2% Property Type Strongest Sales: Single Family
Source: Freddie Mac, NAR, July, 2011 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 July 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos MLS Area
Units
1 Year
Average
Closed Change Sales Price Charlotte - Gastonia - Rock Hill
1721
+9.5
$219,920
All of Mecklenburg County
999
+9.4
$227,856
01 - Mecklenburg County (N)
156
-9.3%
$ 202,848
02 - Mecklenburg County (E)
117
+7.3
$ 115,997
03 - Mecklenburg County (SE)
79
+31.7
$ 125,099
04 - Mecklenburg County (SSE)
88
+3.5
$ 304,549
192
+12.9
$ 374,194
06 - Mecklenburg County (SSW)
86
+34.4
$ 230,614
07 - Mecklenburg County (SW)
72
+44.4
$ 127,789
08 - Mecklenburg County (W)
47
-16.1%
$ 65,037
09 - Mecklenburg County (NW)
88
+8.6
$156,132
10 - Union County
218
+7.9
$ 272,367
11 - Cabarrus County
166
+19.4
$ 182,870
12 - Iredell County
140
+2.2
$ 249,909
13 - Lake Norman
98
+5.4
$ 477,369
14 - Lincoln County
54
+28.6
$ 214,613
15 - Lake Wylie
32
-20%
$318,782
16 - Gaston County
149
+3.5
$ 127,225
17 - York County, SC
178
+8.5
$233,365
42 - Mtn. Island Lake
22
+41
$226,765
99 - Uptown Charlotte
15
+15.4
$285,933
2173
+9.7
$213,354
05 - Mecklenburg County (S)
TOTAL (for All CMLS Area)
Volume 4, Issue 8
On the Move - Helen Adams Realty
July Home Sales Snapshot +8.4% Price Range with Strongest Sales: Under $100,000
-2.5% # Bedrooms Strongest Sales: 4+ bedrooms
Volume 4, Issue 8
Page 3
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
-7.2% Property Type Strongest Sales: Single Family
Source: Freddie Mac, NAR, July, 2011 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 4, Issue 8
July 2011 Home Sales Overview Indicators Suggest Improving Conditions in Home Sales and Inventory Now that we've reached the height of summer, we're beginning to move beyond comparisons to the 2010 “homebuyer’s tax incentive market”. Qualified buyers may find more attractive opportunities now than during either of the recent tax credits. Interest rates should hold their ground around five percent, though a shift in the federal credit rating could change that. A few indicators suggest improving condi-
Market Activity and Trends for Charlotte & Surrounding Counties
AUGUST 2011
Data and article excerpts from CMLS & 10K Research Marketing.
tions. New listings in the Charlotte region decreased 27.1 percent, pending sales were up 17.0 percent, and closed sales enjoyed a 9.7% boost. Inventory levels shrank 21.1 percent, but consumers are still finding terrific opportunities. Buyers absorbed homes more quickly in July, as months supply of inventory was down 11.5 percent. Second quarter GDP growth was 1.3 percent after a
0.4 percent gain in the first quarter. We added 117,000 new jobs in July, a stronger gain than expected. Even though a budget deal has been reached, challenges persist. Changes to Fannie, Freddie and the mortgage interest deduction are still in play. As consumers absorb distressed inventory and labor conditions improve, the wheels of recovery grind on.
www.melissabrownhomes.com
Residential Closings - Entire MLS
July 2010 - July 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
+9.7
+17%
-27.1%
-1.5%
-21.1%
150
Change in Closed Sales
Pending Sales
Change in New Listings
Average Sales Price
Total Active Listings
Average Days on Market
12 Months Supply of Homes for Sale
There were 2173 total closings in July 2011, up 9.7% compared to July 2010. 68% of all home sales in July 2011 were in the $200,000 and under category. The average closing price for the Charlotte
metro area in July 2011 was $213,354, down 1.5% from June 2010. In July 2011, new listings decreased by 27.1%, pending sales increased by 17%, and total active listings decreased by 21.1%.
Current Active Listings by Price Range
July 2011 Sales by Price Range
2% 1%
1% 1% 3% Under $100,000
3% 5% 20%
$100,001 - $150K
11%
$300,001 - $450K
18%
17%
18%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 21,730
$150,001 - $200K $200,001 - $300K
34%
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$100,001 - $150K
12%
$150,001 - $200K $200,001 - $300K
Under $100,000
5%
16% 18%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold July, 2011 = 2173 Data Courtesy Carolina MLS.
www.helenadamsrealty.com