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

NOVEMBER 2011 Brought to You by Evelyn McCorkle

www.helenadamsrealty.com

Residential Closings - Entire MLS

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

+12.4

+14.1

Change in Closed Sales

Pending Sales

-15.6%

-3.6%

-22.4%

155

Change in New Lis ngs

Average Sales Price

Total Ac ve Lis ngs

Average Days on Market

10.4 Months Supply of Homes for Sale

There were 1882 total closings in October 2011, up 12.4% com‐ pared to Oct. 2010. 66% of all home sales in Oct. 2011 were in the $200,000 and under category. The average closing price for the

Charlo e metro area in Oct. 2011 was $194,837, down 3.6% from Oct. 2010. In Oct. 2011, new lis ngs decreased by 15.6%, pending sales increased by 14.1%, total ac ve lis ngs decreased by 22.4%.

Current Active Listings by Price Range

October 2011 Sales by Price Range

2% 2%

1% 1% 2% Under $100,000

4% 5% 22%

$100,001 - $150K

$200,001 - $300K $300,001 - $450K

19%

17%

$450,001 - $600K

$800,001 - $1M

17%

17%

704. 957. 3558

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

21%

Over $1 Million

Total Ac ve Lis ngs = 19,584 —

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

Over $1 Million

Evelyn McCorkle

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

28%

$600,001 - $800K

17%

$100,001 - $150K

13%

$150,001 - $200K

12%

Under $100,000

5%

Total Sold October, 2011 = 1882

Data Courtesy Carolina MLS.

emccorkle@helenadamsrealty.com

www.evelynmccorkle.com


Page 2

On the Move - Helen Adams Realty

Closed Units by Area

Volume 4, Issue 11

Oct. Home Sales Snapshot

October 2011 - By MLS Areas

+12.8%

+4.9%

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

1445

+12.7 

$189,927

All of Mecklenburg County

872

+19.0 

$200,709

01 ‐ Mecklenburg County (N)

149

+11.2 

$ 163,129

02 ‐ Mecklenburg County (E)

105

+22.1 

$ 105,562

03 ‐ Mecklenburg County (SE)

68

+13.3 

$ 113,338

04 ‐ Mecklenburg County (SSE)

98

+63.3 

$ 281,245

160

+7.4 

$ 359,504

06 ‐ Mecklenburg County (SSW)

63

+18.9 

$ 195,904

07 ‐ Mecklenburg County (SW)

67

+17.5 

$ 132,074

08 ‐ Mecklenburg County (W)

33

$ 60,667

09 ‐ Mecklenburg County (NW)

63

+3.3 

$118,547

10 ‐ Union County

182

+19.7 

$ 202,237

11 ‐ Cabarrus County

108

‐6.1 

$ 170,969

12 ‐ Iredell County

140

+21.7 

$ 269,217

13 ‐ Lake Norman

106

+45.2 

$ 410,435

14 ‐ Lincoln County

55

+12.2 

$284,076

15 ‐ Lake Wylie

31

‐8.8 

$300,693

16 ‐ Gaston County

129

‐4.4 

$ 101,447

17 ‐ York County, SC

147

+2.8 

$207,429

42 ‐ Mtn. Island Lake

17

+35.3 

$179,607

99 ‐ Uptown Charlo e

20

+185.7 

$243,000

1882

+12.4 

$194,837

05 ‐ Mecklenburg County (S)

TOTAL (for All CMLS Area)

+1.6% Property Type Strongest Sales: Single Family

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


On the Move - Helen Adams Realty

Volume 4, Issue 11

Page 3

Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

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

Evelyn McCorkle

704. 957. 3558

emccorkle@helenadamsrealty.com

www.evelynmccorkle.com


Page 4

On the Move - Helen Adams Realty

Volume 4, Issue 11

October 2011 Home Sales Overview Declining Inventory, Record Low Interest Rates & Affordable Pricing Drives Sales      Data and ar There's the numbers, then there’s the story behind them. For months, declining inven‐ tory has been the na onal tale to tell. This suggests a changing narra ve with different voices. A buyer might tell you that record low mortgage rates and affordable prices made homeownership more a rac ve than ren ng. A seller may say that less compe ‐ on allowed them to receive more of their asking price. The moral of the story? Real estate is local both in terms of geography

and personal circumstance. New lis ngs in the Charlo e region de‐ creased 15.6%, pending sales were up 14.1%. Inventory levels shrank 22.4%, a trend that could indicate a changing land‐ scape. The median sales price decreased 1.3% to $152,000. List to Close increased 7.6% to 155 days. Months supply of invento‐ ry was down 20.4%. Recent reports from the broader economy have dispelled the

Evelyn MCCorkle Trusted Real Estate Advisor 704.957.3558 emccorkle@helenadamsrealty.com 2301 Randolph Road Charlotte NC 28207

cle excerpts from CMLS & 10K Research

story of a double‐dip recession. An early reading of gross domes c product (GDP) showed 2.5 percent growth. Meanwhile, na onal job growth, a major driver of hous‐ ing demand and price support, has recently strengthened. An increasingly impa ent White House has rolled out phase two of the Home Affordable Refinance Program (HARP) for Fannie‐ and Freddie‐backed mortgages. This should help a number of consumers as they write the next chapter.


November 2011 On the Move Newsletter - Brought to You by Evelyn McCorkle