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Monthly Indicators A RESEARCH TOOL PROVIDED BY THE CHARLOTTE REGIONAL REALTOR® ASSOCIATION FOR MORE INFORMATION CONTACT A REALTOR®

June 2013

Quick Facts

As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings. New Listings in the Charlotte region increased 9.1 percent to 4,585. Pending Sales were down 3.1 percent to 3,534. Inventory levels shrank 21.9 percent to 14,597 units. Prices followed the mercury higher. The Median Sales Price increased 7.4 percent to $184,000. List to Close was down 11.1 percent to 132 days. Absorption rates improved as Months Supply of Inventory was down 38.4 percent to 5.1 months. The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 percent again but are not likely to reach 3.3 percent again.

+ 31.2%

+ 7.4%

- 21.9%

Year-Over-Year Change in Closed Sales

Year-Over-Year Change in Median Sales Price

Year-Over-Year Change in Inventory

Market Overview New Listings Pending Sales Closed Sales List to Close Days on Market Until Sale Cumulative Days on Market Until Sale Average List Price Average Sales Price Median Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory

2 3 4 5 6 7 8 9 10 11 12 13 14 15

Click on desired metric to jump to that page.

All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing.


Market Overview Key market metrics for the current month and year-to-date.

Key Metrics

Historical Sparklines

New Listings 6-2010

6-2011

6-2012

6-2011

6-2012

6-2010

6-2011

6-2012

6-2013

6-2010

6-2011

6-2012

6-2013

List to Close

Average List Price 6-2010

6-2011

6-2012

6-2013

6-2010

6-2011

6-2012

6-2013

6-2010

6-2011

6-2012

6-2013

Average Sales Price

Median Sales Price Percent of Original List Price Received 6-2011

6-2012

6-2011

6-2012

YTD 2012 YTD 2013

+/–

4,204

4,585

+ 9.1%

26,041

28,058

+ 7.7%

3,646

3,534

- 3.1%

15,527

19,753

+ 27.2%

2,657

3,485

+ 31.2%

12,683

16,624

+ 31.1%

148

132

- 11.1%

156

143

- 8.4%

$238,201

$259,086

+ 8.8%

$248,934

$264,819

+ 6.4%

$227,907

$239,842

+ 5.2%

$207,920

$218,512

+ 5.1%

$171,250

$184,000

+ 7.4%

$158,000

$168,000

+ 6.3%

92.7%

95.1%

+ 2.6%

91.7%

93.7%

+ 2.2%

183

163

- 11.1%

195

175

- 10.1%

18,700

14,597

- 21.9%

--

--

--

8.4

5.1

- 38.4%

--

--

--

6-2013

Housing Affordability Index 6-2010

+/–

6-2013

Closed Sales

6-2010

6-2013

6-2013

Pending Sales 6-2010

6-2012

6-2013

Inventory of Homes for Sale 6-2010

6-2011

6-2012

6-2013

6-2010

6-2011

6-2012

6-2013

Months Supply of Homes for Sale

Note: CarolinaMLS did not include “showable” under contract listings in the “Pending Sales” stats before July 2012. Listing agents report listings as “Under Contract-Show” earlier in the transaction. As a result, the new “Pending Sales” stats trend higher “Months Supply of Inventory” stats trend lower since July 2012. | Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 2


New Listings A count of the properties that have been newly listed on the market in a given month.

June

Year To Date 28,058

4,585 4,144

2011

26,257

4,204

+1.4%

+9.1%

2012

2013

26,041

2011

-0.8%

+7.7%

2012

2013

Month

Prior Year

Current Year

+/–

July

3,681

4,011

+9.0%

August

3,940

3,887

-1.3%

September

3,409

3,357

-1.5%

October

3,244

3,547

+9.3%

November

2,880

3,116

+8.2%

December

2,384

2,387

+0.1%

January

3,889

3,913

+0.6%

February

4,019

4,299

+7.0%

March

4,817

4,931

+2.4%

April

4,583

5,166

+12.7%

May

4,529

5,164

+14.0%

June

4,204

4,585

+9.1%

12-Month Avg

3,798

4,030

+6.1%

Historical New Listing Activity 8,000

7,000

6,000

5,000

4,000

3,000

2,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 3


Pending Sales A count of the properties on which contracts have been accepted in a given month. Pending contracts include “Under Contract-Show” and “Under Contract-No Show” statuses.

June

Year To Date 3,646

3,534 19,753 15,527

2,303 11,823

2011

+58.3%

-3.1%

2012

2013

2011

+31.3%

+27.2%

2012

2013

Month

Prior Year

Current Year

+/–

July

2,043

2,792

+36.7%

August

2,211

2,625

+18.7%

September

1,886

2,264

+20.0%

October

1,758

2,455

+39.6%

November

1,799

2,194

+22.0%

December

1,609

1,939

+20.5%

January

1,798

2,629

+46.2%

February

2,019

2,796

+38.5%

March

2,402

3,416

+42.2%

April

2,508

3,631

+44.8%

May

3,154

3,747

+18.8%

June

3,646

3,534

-3.1%

12-Month Avg

2,236

2,835

+26.8%

Historical Pending Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Note: CarolinaMLS did not include “showable” under contract listings in the “Pending Sales” stats before July 2012. Listing agents report listings as “Under Contract-Show” earlier in the transaction. As a result, the new “Pending Sales” stats trend higher “Months Supply of Inventory” stats trend lower since July 2012. | Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 4


Closed Sales A count of the actual sales that have closed in a given month.

June

Year To Date 16,624

3,485 12,683

2,657

11,038

2,329

2011

+14.1%

+31.2%

2012

2013

2011

+14.9%

+31.1%

2012

2013

Month

Prior Year

Current Year

+/–

July

2,171

2,651

+22.1%

August

2,285

2,900

+26.9%

September

1,968

2,243

+14.0%

October

1,882

2,574

+36.8%

November

1,686

2,274

+34.9%

December

1,896

2,338

+23.3%

January

1,541

2,160

+40.2%

February

1,614

2,043

+26.6%

March

2,098

2,620

+24.9%

April

2,168

2,915

+34.5%

May

2,605

3,401

+30.6%

June

2,657

3,485

+31.2%

12-Month Avg

2,048

2,634

+28.8%

Historical Closed Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 5


List to Close “List to Close” provides the total number of days specific to the MLS number from “Listing Date” to “Sold Date.”

June

Year To Date 167

161

156

148

143 132

2011

-8.2%

-11.1%

2012

2013

2011

Prior Year

Current Year

+/–

July

160

148

-7.6%

August

158

143

-9.1%

September

168

150

-10.8%

October

167

149

-10.9%

November

161

146

-9.0%

December

158

156

-1.6%

January

165

155

-5.8%

February

159

147

-7.6%

March

166

151

-9.0%

April

155

142

-8.9%

May

149

138

-7.0%

June

148

132

-11.1%

12-Month Avg

159

146

-8.2%

Month

-6.5%

-8.4%

2012

2013

Historical List to Close 200 190 180 170 160 150 140 130 120 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 6


Days on Market Until Sale Days on Market (“DOM”) tracks the days on market for a property specific to the MLS number. “DOM” accrues for “Active” and “Under Contract-Show” statuses. “DOM” does not include any days that the listing is in “Under Contract-No Show,” “Temporarily off Market,” “Closed/Sold,” “Expired” and “Withdrawn” statuses.

June

Year To Date

Prior Year

Current Year

+/–

119

109

-7.9%

August

117

104

-11.3%

September

126

111

-12.0%

October

122

108

-11.7%

November

118

106

-9.8%

December

122

115

-5.6%

Month July

121

121

115

111

102 93

2011

-8.2%

-16.5%

2012

2013

2011

-4.6%

-11.5%

2012

2013

January

122

108

-11.6%

February

119

106

-10.5%

March

120

112

-6.1%

April

116

101

-12.8%

May

111

99

-10.5%

June

111

93

-16.5%

12-Month Avg

151

124

-17.7%

Historical Days on Market 140 130 120 110 100 90 80 70 60 50 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 7


Cumulative Days on Market Until Sale Cumulative Days on Market (“CDOM”) functions like “DOM”; however, “CDOM” tracks the days on market for a property over multiple listings on the property. When a new listing is entered, the “CDOM” only resets to zero if the previous listing closed (as in sold), or if the previous listing has been off market (expired or withdrawn) for more than 90 days.

June

Year To Date 163

162

145

138

118 106

2011

-14.7%

-23.0%

2012

2013

2011

Prior Year

Current Year

+/–

July

157

135

-14.6%

Month

-10.9%

-18.4%

2012

2013

August

151

128

-15.2%

September

164

132

-19.4%

October

161

128

-20.5%

November

151

126

-16.2%

December

154

131

-14.7%

January

146

126

-13.8%

February

151

124

-17.8%

March

152

131

-13.9%

April

148

119

-19.4%

May

141

113

-20.0%

June

138

106

-23.0%

12-Month Avg

151

124

-17.7%

Historical Cumulative Days on Market 200 180 160 140 120 100 80 60 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 8


Average List Price Average list price for all homes that have been newly listed on the market in a given month.

June

Year To Date $264,819 $248,934

$243,668 $249,427

2011

$259,086 $238,201

-4.5%

+8.8%

2012

2013

2011

Prior Year

Current Year

+/–

July

$241,033

$231,589

-3.9%

August

$230,062

$236,078

+2.6%

September

$239,604

$242,195

+1.1%

October

$222,098

$231,275

+4.1%

November

$221,789

$218,616

-1.4%

December

$213,005

$219,685

+3.1%

January

$245,851

$247,596

+0.7%

February

$247,551

$262,568

+6.1%

March

$258,126

$272,586

+5.6%

April

$263,053

$271,972

+3.4%

May

$238,694

$270,228

+13.2%

June

$238,201

$259,086

+8.8%

12-Month Avg

$240,468

$250,533

+4.2%

Month

+2.2%

+6.4%

2012

2013

Historical Average List Price $300,000

$280,000

$260,000

$240,000

$220,000

$200,000

$180,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 9


Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.

June

$216,318

2011

Year To Date

$227,907

+ 5.4%

+ 5.2%

2012

2013

$218,512

$207,920

$201,238

$239,842

2011

Prior Year

Current Year

+/–

July

$213,205

$219,867

+3.1%

August

$205,711

$213,846

+4.0%

September

$196,649

$205,463

+4.5%

October

$194,739

$204,284

+4.9%

November

$192,414

$204,816

+6.4%

December

$190,565

$205,567

+7.9%

January

$187,803

$188,783

+0.5%

February

$184,766

$194,774

+5.4%

March

$196,214

$216,336

+10.3%

April

$214,739

$217,088

+1.1%

May

$217,442

$232,698

+7.0%

June

$227,907

$239,842

+5.2%

12-Month Avg

$203,867

$214,169

+5.1%

Month

+ 3.3%

+ 5.1%

2012

2013

Historical Average Sales Price $250,000 $240,000 $230,000 $220,000 $210,000 $200,000 $190,000 $180,000 $170,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 10


Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.

June

Year To Date $184,000 $168,000

$171,250 $156,750

2011

$158,000

$150,000

+9.3%

+7.4%

2012

2013

2011

Prior Year

Current Year

+/–

July

$163,500

$165,800

+1.4%

August

$158,000

$163,000

+3.2%

September

$149,900

$160,000

+6.7%

October

$151,942

$157,000

+3.3%

November

$151,470

$160,000

+5.6%

December

$155,000

$158,925

+2.5%

January

$146,200

$150,000

+2.6%

February

$145,450

$150,923

+3.8%

March

$153,807

$168,000

+9.2%

April

$159,990

$167,000

+4.4%

May

$165,000

$173,250

+5.0%

June

$171,250

$184,000

+7.4%

12-Month Med

$156,000

$165,000

+5.8%

Month

+5.3%

+6.3%

2012

2013

Historical Median Sales Price $190,000

$180,000

$170,000

$160,000

$150,000

$140,000

$130,000 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 12


Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

June 89.7%

2011

Year To Date 92.7%

95.1%

+3.3%

+2.6%

2012

2013

93.7%

91.7%

88.9%

2011

+3.1%

+2.2%

2012

2013

Month

Prior Year

Current Year

+/–

July

89.7%

92.5%

+3.1%

August

89.7%

92.4%

+3.0%

September

89.4%

91.9%

+2.9%

October

90.0%

92.3%

+2.6%

November

90.7%

92.2%

+1.7%

December

90.0%

92.3%

+2.5%

January

90.2%

92.6%

+2.6%

February

90.7%

92.6%

+2.1%

March

91.3%

93.0%

+1.8%

April

91.9%

93.6%

+1.8%

May

92.2%

94.3%

+2.3%

June

92.7%

95.1%

+2.6%

12-Month Avg

90.8%

93.0%

+2.4%

Historical Percent of Original List Price Received 100% 98% 96% 94% 92% 90% 88% 86% 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 13


Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

June 182

Year To Date 183 163

2011

+0.4%

-11.1%

2012

2013

195

189

175

2011

Prior Year

Current Year

July

175

190

+8.2%

August

185

192

+3.6%

September

196

198

+1.2%

October

192

200

+4.1%

November

194

198

+1.9%

December

191

200

+5.2%

Month

+3.4%

-10.1%

2012

2013

+/–

January

201

211

+4.8%

February

204

205

+0.8%

March

193

188

-2.4%

April

190

192

+1.3%

May

187

181

-3.7%

June

183

163

-11.1%

12-Month Avg

191

193

+1.2%

Historical Housing Affordability Index 220

200

180

160

140

120

100 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 14


Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.

June

Prior Year

Current Year

+/–

July

22,926

18,212

-20.6%

August

22,128

17,743

-19.8%

September

21,369

17,172

-19.6%

October

20,594

16,538

-19.7%

November

19,681

15,844

-19.5%

December

18,611

14,856

-20.2%

January

18,271

14,265

-21.9%

February

18,695

14,598

-21.9%

March

19,523

14,857

-23.9%

April

20,145

15,107

-25.0%

May

19,772

15,040

-23.9%

June

18,700

14,597

-21.9%

12-Month Avg

20,035

15,736

-21.5%

Month

23,673

18,700 14,597

2011

-21.0%

-21.9%

2012

2013

Historical Inventory of Homes for Sale 30,000 27,500 25,000 22,500 20,000 17,500 15,000 12,500 1-2004

1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTORÂŽ Association. Powered by 10K Research and Marketing. | Click for Cover Page | 15


Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

June

Prior Year

Current Year

July

12.6

7.9

-37.0%

August

11.9

7.6

-36.2%

September

11.4

7.3

-36.2%

Month

13.2

8.4

5.1

2011

-36.5%

-38.4%

2012

2013

+/–

October

10.9

6.8

-37.2%

November

10.3

6.5

-37.3%

December

9.7

6.0

-38.0%

January

9.3

5.6

-40.0%

February

9.4

5.6

-40.5%

March

9.7

5.5

-43.3%

April

9.9

5.4

-45.2%

May

9.3

5.3

-43.2%

June

8.4

5.1

-38.4%

12-Month Avg

10.2

6.2

-39.2%

Historical Months Supply of Inventory 16

14

12

10

8

6

4 1-2005

1-2006

1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

Note: CarolinaMLS did not include “showable” under contract listings in the “Pending Sales” stats before July 2012. Listing agents report listings as “Under Contract-Show” earlier in the transaction. As a result, the new “Pending Sales” stats trend higher “Months Supply of Inventory” stats trend lower since July 2012. | Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of July 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by 10K Research and Marketing. | Click for Cover Page | 16


Monthlyindicatorsreptjune2013