Page 1

Page 4

On the Move - Helen Adams Realty

ONthe MOve

Volume 1, Issue 3

Mortgage Rates Drop to Lowest Level Since May

Market Activity and Trends for Charlotte & Surrounding Counties  

US  mortgage  rates  dropped  for  a  third  consecutive  week,  reaching  their lowest level since late‐May, a move that bodes well for the hard‐ hit housing market.  Interest  rates  on  U.S.  30‐year  fixed‐rate  mortgages  dropped  to  5.14  percent for the week ending July 16, down from the previous week's 

JULY 2009 www.helenadamsrealty.com 

Residential Closings - Entire MLS 2008 - 2009

5.20  percent,  according  to  a  survey  released  on  Thursday  by  home 

ASP = Average Sold Price 

funding company, Freddie Mac. 

Data Courtesy Carolina MLS. 

   

That  is  the  lowest  since  the  week  ended  May  28,  but  significantly  higher than the record low of 4.78 percent set the week ending April  2. Freddie Mac started the Primary Mortgage Market Survey in 1971.       

The drop in rates is a positive for the U.S. housing market, which has  been  showing  some  signs  of  stabilization,  with  sales  rising  and  home  price declines moderating in many regions of the country.         

Leif  Thomsen,  CEO  of  Mortgage  Master,  in  Walpole,  Massachusetts,  said there is still a sense of nervousness in the market amid rising un‐ employment,  which  increases  anxiety  and  decreases  confidence  in  pulling the trigger on home purchases.   

Published: Thursday, 16 Jul 2009 | 11:04 AM ET  by Reuters 

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   

800‐851‐5253    /    www.helenadamsrealty.com 

The average residential closing price for the Charlotte area in June  2009 was $218,728, down approximately 6.4 % compared to 2008.   Average days from Listing to Closing date is 147.3 for June 2009. 

Current Active Listings by Price Range 4%

There were 2024 total closings for June 2009, down 26% compared  to 2008.  The bulk of home sales continues to be in the lower price  ranges ‐ with 87% of sales in the $350,000 and under category. 

June 2009 Closed Sales by Price Range 0.8%

Under $250,000

10% 11%

$250 - $350,000 $350 - $500,000

$1 Million +

15%

$250 - $350,000

7% 13%

$500K - $1 Million

59%

Under $250,000

5.7%

74%

$350 - $500,000 $500K - $1 Million $1 Million +

Total Active Listings = 28,291 

Total Sold June 09 = 2024 

Data Courtesy Carolina MLS. 

Data Courtesy Carolina MLS. 

www.helenadamsrealty.com 


Page 2

On the Move - Helen Adams Realty

Volume 1, Issue 3

Total Closed Units

On the Move - Helen Adams Realty

Volume 1, Issue 3

Page 3

Pending Contracts

Average Residential Closing Price

New Listings

30 Year Fixed Mortgage Rates

June 2009 - All MLS Areas Residential Single Family, Townhomes & Condos MLS Area

Units Closed

Total

Average

Closed Volume Closing Price

01 - Mecklenburg County (N)

187

$34,447,401

$184,210

02 - Mecklenburg County (E)

120

$16,540,547

$137,837

03 - Mecklenburg County (SE)

66

$10,825,047

$164,015

04 - Mecklenburg County (SSE)

102

$28,954,821

$283,870

05 - Mecklenburg County (S)

174

$66,803,697

$383,929

06 - Mecklenburg County (SSW)

75

$17,592,654

$234,568

07 - Mecklenburg County (SW)

65

$9,722,599

$149,578

08 - Mecklenburg County (W)

53

$4,855,877

$91,620

09 - Mecklenburg County (NW)

80

$12,294,474

$153,680

10 - Union County

195

$58,392,807

$299,450

11 - Cabarrus County

151

$26,354,792

$174,535

12 - Iredell County

81

$12,271,511

$151,500

13 - Lake Norman

91

$41,864,712

$460,051

14 - Lincoln County

41

$5,010,951

$122,218

15 - Lake Wylie

34

$12,550,300

$369,126

16 - Gaston County

135

$17,578,192

$130,208

17 - York County

119

$24,665,089

$207,269

20 - Alexander County

3

$306,400

$102,133

21 - Rowan County

66

$8,388,249

$127,094

22 - Cleveland County

20

$3,444,530

$172,226

23 - Stanly County

24

$3,328,147

$138,672

24 - Lancaster County

56

$14,645,449

$261,525

25 - Anson County

4

$296,900

$74,225

29 - Catawba County

35

$4,486,245

$128,178

35 - Chester County

3

$242,900

$80,966

42 - Mtn. Island Lake

18

$2,958,140

$164,341

99 - Uptown Charlotte

13

$2,769,500

$213,038

2011

$441,591,931

$191,113

TOTAL

Days on Market The  following  statistics  apply  to  May  6  to  June  6  2009,  and  reflect  days  on  market  from  the  original  listing date to the recorded closing date. 

43.8 percent of homes closed in 121+  days. 

14.6 percent of homes closed in 91‐120 days. 

19.8 percent of homes closed in 61‐90 days. 

18.4 percent of homes closed in 31‐60 days. 

3.4 percent of homes closed in 0‐30 days. 

Listing Date to Closing Date 65 sold 0-30 days

353 sold 837 sold 121+ days

31-60 days

121+ days 91-120 days 61-90 days 31-60 days

378 sold

0-30 days

61-90 days

279 sold 91-120 days

Total Active Listings = 28,291  Data Courtesy Carolina MLS. 

Source:  Freddie Mac, NAR, July 7, 2009 

www.helenadamsrealty.com 

www.helenadamsrealty.com 


Page 2

On the Move - Helen Adams Realty

Volume 1, Issue 3

Total Closed Units

On the Move - Helen Adams Realty

Volume 1, Issue 3

Page 3

Pending Contracts

Average Residential Closing Price

New Listings

30 Year Fixed Mortgage Rates

June 2009 - All MLS Areas Residential Single Family, Townhomes & Condos MLS Area

Units Closed

Total

Average

Closed Volume Closing Price

01 - Mecklenburg County (N)

187

$34,447,401

$184,210

02 - Mecklenburg County (E)

120

$16,540,547

$137,837

03 - Mecklenburg County (SE)

66

$10,825,047

$164,015

04 - Mecklenburg County (SSE)

102

$28,954,821

$283,870

05 - Mecklenburg County (S)

174

$66,803,697

$383,929

06 - Mecklenburg County (SSW)

75

$17,592,654

$234,568

07 - Mecklenburg County (SW)

65

$9,722,599

$149,578

08 - Mecklenburg County (W)

53

$4,855,877

$91,620

09 - Mecklenburg County (NW)

80

$12,294,474

$153,680

10 - Union County

195

$58,392,807

$299,450

11 - Cabarrus County

151

$26,354,792

$174,535

12 - Iredell County

81

$12,271,511

$151,500

13 - Lake Norman

91

$41,864,712

$460,051

14 - Lincoln County

41

$5,010,951

$122,218

15 - Lake Wylie

34

$12,550,300

$369,126

16 - Gaston County

135

$17,578,192

$130,208

17 - York County

119

$24,665,089

$207,269

20 - Alexander County

3

$306,400

$102,133

21 - Rowan County

66

$8,388,249

$127,094

22 - Cleveland County

20

$3,444,530

$172,226

23 - Stanly County

24

$3,328,147

$138,672

24 - Lancaster County

56

$14,645,449

$261,525

25 - Anson County

4

$296,900

$74,225

29 - Catawba County

35

$4,486,245

$128,178

35 - Chester County

3

$242,900

$80,966

42 - Mtn. Island Lake

18

$2,958,140

$164,341

99 - Uptown Charlotte

13

$2,769,500

$213,038

2011

$441,591,931

$191,113

TOTAL

Days on Market The  following  statistics  apply  to  May  6  to  June  6  2009,  and  reflect  days  on  market  from  the  original  listing date to the recorded closing date. 

43.8 percent of homes closed in 121+  days. 

14.6 percent of homes closed in 91‐120 days. 

19.8 percent of homes closed in 61‐90 days. 

18.4 percent of homes closed in 31‐60 days. 

3.4 percent of homes closed in 0‐30 days. 

Listing Date to Closing Date 65 sold 0-30 days

353 sold 837 sold 121+ days

31-60 days

121+ days 91-120 days 61-90 days 31-60 days

378 sold

0-30 days

61-90 days

279 sold 91-120 days

Total Active Listings = 28,291  Data Courtesy Carolina MLS. 

Source:  Freddie Mac, NAR, July 7, 2009 

www.helenadamsrealty.com 

www.helenadamsrealty.com 


Page 4

On the Move - Helen Adams Realty

ONthe MOve

Volume 1, Issue 3

Mortgage Rates Drop to Lowest Level Since May

Market Activity and Trends for Charlotte & Surrounding Counties  

US  mortgage  rates  dropped  for  a  third  consecutive  week,  reaching  their lowest level since late‐May, a move that bodes well for the hard‐ hit housing market.  Interest  rates  on  U.S.  30‐year  fixed‐rate  mortgages  dropped  to  5.14  percent for the week ending July 16, down from the previous week's 

JULY 2009 www.helenadamsrealty.com 

Residential Closings - Entire MLS 2008 - 2009

5.20  percent,  according  to  a  survey  released  on  Thursday  by  home 

ASP = Average Sold Price 

funding company, Freddie Mac. 

Data Courtesy Carolina MLS. 

   

That  is  the  lowest  since  the  week  ended  May  28,  but  significantly  higher than the record low of 4.78 percent set the week ending April  2. Freddie Mac started the Primary Mortgage Market Survey in 1971.       

The drop in rates is a positive for the U.S. housing market, which has  been  showing  some  signs  of  stabilization,  with  sales  rising  and  home  price declines moderating in many regions of the country.         

Leif  Thomsen,  CEO  of  Mortgage  Master,  in  Walpole,  Massachusetts,  said there is still a sense of nervousness in the market amid rising un‐ employment,  which  increases  anxiety  and  decreases  confidence  in  pulling the trigger on home purchases.   

Published: Thursday, 16 Jul 2009 | 11:04 AM ET  by Reuters 

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   

800‐851‐5253    /    www.helenadamsrealty.com 

The average residential closing price for the Charlotte area in June  2009 was $218,728, down approximately 6.4 % compared to 2008.   Average days from Listing to Closing date is 147.3 for June 2009. 

Current Active Listings by Price Range 4%

There were 2024 total closings for June 2009, down 26% compared  to 2008.  The bulk of home sales continues to be in the lower price  ranges ‐ with 87% of sales in the $350,000 and under category. 

June 2009 Closed Sales by Price Range 0.8%

Under $250,000

10% 11%

$250 - $350,000 $350 - $500,000

$1 Million +

15%

$250 - $350,000

7% 13%

$500K - $1 Million

59%

Under $250,000

5.7%

74%

$350 - $500,000 $500K - $1 Million $1 Million +

Total Active Listings = 28,291 

Total Sold June 09 = 2024 

Data Courtesy Carolina MLS. 

Data Courtesy Carolina MLS. 

www.helenadamsrealty.com 


Charlotte, NC Real Estate Statistics - July 2009  

Real Estate Market statistics for July 2009 in Charlotte, NC and surrounding counties.

Advertisement
Read more
Read more
Similar to
Popular now
Just for you