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ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties

AUGUST 2011

Kim Walton 704-516-5688 kwalton@helenadamsrealty.com

www.helenadamsrealty.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%

$100,001 - $150K

11%

20%

$300,001 - $450K

18%

17%

18%

$450,001 - $600K

$800,001 - $1M

16% 18%

$600,001 - $800K $800,001 - $1M Over $1 Million

Total Active Listings = 21,730 704-516-5688

$300,001 - $450K $450,001 - $600K

Over $1 Million

Kim Walton

$150,001 - $200K $200,001 - $300K

34%

$600,001 - $800K

20%

$100,001 - $150K

12%

$150,001 - $200K $200,001 - $300K

Under $100,000

5%

Data Courtesy Carolina MLS.

kwalton@helenadamsrealty.com

Total Sold July, 2011 = 2173 www.callkimwalton.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

July Home Sales Snapshot +8.4% Price Range with Strongest Sales: Under $100,000

-2.5% # Bedrooms Strongest Sales: 4+ bedrooms

-7.2% Property Type Strongest Sales: Single Family

Data Courtesy Carolina MLS & 10K Research and Marketing.


On the Move - Helen Adams Realty

Volume 4, Issue 8

Page 3

Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

Source: Freddie Mac, NAR, July, 2011 Data Courtesy Carolina MLS.

Kim Walton

704-516-5688

kwalton@helenadamsrealty.com

www.callkimwalton.com


Page 4

On the Move - Helen Adams Realty

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-

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

Kim Walton 2301 Randolph Road, Charlotte, NC 28207 704-516-5688 kwalton@helenadamsrealty.com www.callkimwalton.com

Data and article excerpts from CMLS & 10K Research Marketing.

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.


August 2011 On the Move Newsletter - Brought to You by Kim Walton