Page 1

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

OCTOBER 2011

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

www.helenadamsrealty.com

Residential Closings - Entire MLS

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

+26.0

+14.3

Change in Closed Sales

Pending Sales

-20.8%

-6.5%

-23.3%

157

Change in New Lis ngs

Average Sales Price

Total Ac ve Lis ngs

Average Days on Market

10.9 Months Supply of Homes for Sale

There were 1970 total closings in Oct. 2011, up 26% compared to Sept. 2010. 64% of all home sales in Sept. 2011 were in the $200,000 and under category. The average closing price for the

Charlo e metro area in Sept. 2011 was $196,686, down 6.5% from Sept. 2010. In Sept. 2011, new lis ngs decreased by 20.8%, pending sales increased by 14.3%, total ac ve lis ngs decreased by 23.3%.

Current Active Listings by Price Range

October 2011 Sales by Price Range

2% 1%

1% 1% 3% Under $100,000

4% 5%

$100,001 - $150K

12%

21%

$300,001 - $450K

18%

17%

17%

$450,001 - $600K

$800,001 - $1M

16% 20%

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

Total Ac ve Lis ngs = 20,301 704-780-3413

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

Over $1 Million

ERIC LAYNE

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

28%

$600,001 - $800K

17%

$100,001 - $150K

13%

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

Under $100,000

5%

Data Courtesy Carolina MLS.

eric.layne@helenadamsrealty.com

Total Sold September, 2011 = 1970 www.EricLayneRealEstate.com


Page 2

On the Move - Helen Adams Realty

Closed Units by Area October 2011 - By MLS Areas Residential Single Family, Townhomes & Condos MLS Area

Units

1 Year

Average

Closed Change Sales Price Charlo e ‐ Gastonia ‐ Rock Hill

1552

+30.1 

$198,768

All of Mecklenburg County

890

+29.4 

$205,335

01 ‐ Mecklenburg County (N)

129

+6.6 

$ 175,998

02 ‐ Mecklenburg County (E)

103

+19.8 

$ 103,275

03 ‐ Mecklenburg County (SE)

66

+65.0 

$ 110,806

04 ‐ Mecklenburg County (SSE)

100

+33.3 

$ 278,608

05 ‐ Mecklenburg County (S)

170

+18.9 

$ 320,870

06 ‐ Mecklenburg County (SSW)

54

+45.9 

$ 189,767

07 ‐ Mecklenburg County (SW)

68

+61.9 

$ 131,914

08 ‐ Mecklenburg County (W)

53

+32.5 

$ 70,062

09 ‐ Mecklenburg County (NW)

74

+42.3 

$143,098

10 ‐ Union County

323

‐19.3 

$ 235,741

11 ‐ Cabarrus County

140

+10.2 

$ 171,063

12 ‐ Iredell County

129

+11.2 

$ 238,487

13 ‐ Lake Norman

99

+11.2 

$ 452,745

14 ‐ Lincoln County

61

+29.8 

$220,481

15 ‐ Lake Wylie

46

+84.0 

$285,446

16 ‐ Gaston County

147

+27.8 

$ 123,354

17 ‐ York County, SC

165

+50.0 

$212,271

42 ‐ Mtn. Island Lake

17

+35.3 

$179,607

99 ‐ Uptown Charlo e

13

+116.7 

$252,192

1970

+26.0 

$196,686

TOTAL (for All CMLS Area)

Volume 4, Issue 10

Sept. Home Sales Snapshot +10.7%

-1.5%

Price Range with Strongest Sales: Under $100,000

# Bedrooms Strongest Sales: 4+ bedrooms

-1.7% Property Type Strongest Sales: Single Family

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


On the Move - Helen Adams Realty

Volume 4, Issue 10

Page 3

Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

Source: Freddie Mac, NAR, Sept., 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 4, Issue 10

October 2011 Home Sales Overview Just Like the Weather, All Real Estate is Local                                                                      Data and ar People talk about the na onal housing mar‐ ket like it’s some sta c thing, like a toaster. The thing is, there is no na onal housing market. Just like there is no na onal weath‐ er forecast. That doesn't mean na onal averages don't have their place, but you don’t grab a raincoat and an umbrella in Miami based on the weather in Sea le. Like the weather, all real estate is local. As we embark on the fourth and final quarter of 2011, let’s take a look at our local fore‐

cast. New Lis ngs in the Charlo e region decreased 20.8 percent, pending sales were up 14.3 percent, Inventory levels shrank 23.3 percent‐ a posi ve supply‐side im‐ provement. Prices were s ll so . The Medi‐ an sales price decreased 4.5 percent to $149,900. Days on market increased 8.4 percent to 157 days. Absorp on rates im‐ proved as months supply of inventory was down 19.0 percent. A dash of upli ing eco‐ nomic news was overshadowed by debt

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

cle excerpts from CMLS & 10K Research

clouds from the ongoing turmoil in Greece and the threat of bank contagion. Manufac‐ turing ac vity and construc on spending both picked up in September, temporarily calming fears of the dreaded double‐dip storm. As for the lending climate, the Fed's recent "Opera on Twist" should keep mort‐ gage rates at or near their current mul ‐ decade lows for the next couple of years. "Jobs, Jobs, Jobs!" should s ll be the ba le cry.


October 2011 On the Move Newsletter - Brought to You by Eric Layne  

Monthly newsletter published by Helen Adams Realty detailing news and statistics about the real estate market in Charlotte, NC and the surro...

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