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ONthe MOve Market Ac vity and Trends for Charlo e & Surrounding Coun es

Eric Layne

JANUARY 2012

704-780-3413 eric.layne@helenadamsrealty.com

Residential Closings - Entire MLS

Dec. 2010 - Dec. 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.

+0.6

+10.4

Change in Closed Sales

Pending Sales

-21.4%

-1.8% -24.6%

Change in New Lis ngs

Average Sales Price

152

Total Ac ve Lis ngs

Average Days on Market

9.1 Months Supply of Homes for Sale

There were 1896 total closings in Dec. 2011, up 0.6% compared to Dec. 2010. 66% of all home sales in Nov. 2011 were in the $200,000 and under category. The average closing price for the

Charlo e metro area in Dec. 2011 was $190,654, down 1.8% from Dec. 2010. In Dec. 2011, new lis ngs decreased by 21.4%, pending sales increased by 10.4%, total ac ve lis ngs decreased by 24.6%.

Current Active Listings by Price Range

December 2011 Sales by Price Range

1% 1% 3%

1% 1% 2% Under $100,000

5%

$100,001 - $150K

11%

22%

$200,001 - $300K

28%

18%

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

17%

$450,001 - $600K

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

$600,001 - $800K

20%

$100,001 - $150K

13%

$150,001 - $200K

$300,001 - $450K

18%

Under $100,000

5%

$800,001 - $1M

21%

Over $1 Million

17%

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

Total Ac ve Lis ngs = 17,581

Total Sold December, 2011 = 1896 Data Courtesy Carolina MLS.

ERIC LAYNE

704-780-3413

eric.layne@helenadamsrealty.com

www.EricLayneRealEstate.com


Page 2

On the Move - Helen Adams Realty

Closed Units by Area

Volume 5, Issue 1

Dec. Home Sales Snapshot

December 2011 - By MLS Areas

+13.5%

+5.5%

Residential Single Family, Townhomes & Condos

Price Range with Strongest Sales: Under $100,000

# Bedrooms Strongest Sales: 4+ bedrooms

MLS Area

Units

1 Year

Average

Closed Change Sales Price Charlo e ‐ Gastonia ‐ Rock Hill

1502

+2.4 

$195,100

All of Mecklenburg County

877

‐0.3 

$192,937

01 ‐ Mecklenburg County (N)

168

+0.6 

$ 174,554

02 ‐ Mecklenburg County (E)

103

‐16.3 

$ 107,757

03 ‐ Mecklenburg County (SE)

56

‐11.1 

$ 137,225

04 ‐ Mecklenburg County (SSE)

84

+13.5 

$ 268,147

05 ‐ Mecklenburg County (S)

151

+4.1 

$ 283,812

06 ‐ Mecklenburg County (SSW)

80

+81.8 

$ 198,903

07 ‐ Mecklenburg County (SW)

68

‐13.9 

$ 155,789

08 ‐ Mecklenburg County (W)

41

‐18.0 

$ 63,752

09 ‐ Mecklenburg County (NW)

66

‐2.9 

$162,080

10 ‐ Union County

192

+12.3 

$ 260,759

11 ‐ Cabarrus County

140

‐4.1 

$ 145,000

12 ‐ Iredell County

125

‐6.0 

$ 235,290

13 ‐ Lake Norman

85

‐18.3 

$ 381,075

14 ‐ Lincoln County

49

‐10.9 

$162,416

15 ‐ Lake Wylie

24

‐27.3 

$304,769

16 ‐ Gaston County

132

+2.3 

$132,338

17 ‐ York County, SC

156

+13.0 

$ 207,592

42 ‐ Mtn. Island Lake

17

+35.3 

$179,607

99 ‐ Uptown Charlo e

18

+63.6 

$220,494

1896

+0.6 

$190,564

TOTAL (for All CMLS Area)

+3.6% Property Type Strongest Sales: Condos

Data Courtesy Carolina MLS & 10K Research and Marke ng.


On the Move - Helen Adams Realty

Volume 5, Issue 1

Page 3

Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

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

ERIC LAYNE

704-780-3413

eric.layne@helenadamsrealty.com

www.EricLayneRealEstate.com


Page 4

On the Move - Helen Adams Realty

Volume 5, Issue 1

December 2011 Home Sales Overview 2011 Was a “Transi on Year” for Most                                                                                    Data and ar 2011 was not the recovery year it was ex‐ pected to be. It was yet another “transi on year” for most. Second, mul ‐decade low mortgage rates and suppressed home pric‐ es coalesced to form an a rac ve purchase environment. And buyers did just what their name implies. This has driven down inventory levels in many locales, which— thirdly—nudged the market balance to‐ ward equilibrium. Here's how the final month of 2011 concluded the year. New

Lis ngs in the Charlo e region decreased 21.4 percent to 2,320. Pending Sales were up 10.4 percent to 1,598. Inventory levels shrank 24.6 percent to 17,581 units, extend‐ ing the signature trend of 2011. Home pric‐ es finished the year on an up note. The Me‐ dian Sales Price increased 4.7 percent to $155,000. List to Close increased 1.4 per‐ cent to 152 days. Absorp on rates improved as Months Supply of Inventory was down 27.0 percent to 9.1 months. Ul mately, the

Eric Layne 2301 Randolph Road, Charlotte, NC 28207 704-780-3413 eric.layne@helenadamsrealty.com www.EricLayneRealEstate.com

cle excerpts from CMLS &10K Research

upcoming spring market should be a major tell about the future direc on of housing. Sellers are seeing mul ple‐offer situa ons; buyers are seeing sub‐4.0 percent loans; supply‐demand trends are more balanced. When it gets down to it, that's a stable founda on and a far cry from 2009. While the fundamentals are be er, the foreclo‐ sure situa on and poli cal unknowns re‐ main wildcards. For now, enjoy the fresh canvas.


January 2012 On the Move Newsletter - Brought to You by Eric Layne