ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties
Mary Schurr
DECEMBER 2011
704-591-5703 mary@maryschurr.com
Residential Closings - Entire MLS
Nov. 2010 - Nov. 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
+8.7%
+12.8
Change in Closed Sales
Pending Sales
-16.3%
-10.3% -24.0%
Change in New Listings
Average Sales Price
149
Total Active Listings
Average Days on Market
9.8 Months Supply of Homes for Sale
There were 1686 total closings in Nov. 2011, up 8.7% compared to Nov. 2010. 64% of all home sales in Nov. 2011 were in the $200,000 and under category. The average closing price for the
Charlotte metro area in Nov. 2011 was $192,472, down 10.3% from Nov. 2010. In Nov. 2011, new listings decreased by 16.3%, pending sales increased by 12.8%, total active listings decreased by 24.0%.
Current Active Listings by Price Range
November 2011 Sales by Price Range
1% 1% 4%
1% 1% 2%
Under $100,000
5%
$100,001 - $150K
12%
22%
$300,001 - $450K
18%
28%
17%
$800,001 - $1M
$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 $200,001 - $300K
Under $100,000
5%
20%
Over $1 Million
16%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Active Listings = 18,633
Total Sold November, 2011 = 1686 Data Courtesy Carolina MLS.
Mary Schurr
704-591-5703
mary@maryschurr.com
www.maryschurr.com
Page 2
On the Move - Helen Adams Realty
Closed Units by Area
Nov. Home Sales Snapshot
November 2011 - By MLS Areas
+14.7%
Residential Single Family, Townhomes & Condos Units Closed
1 Year Change
Average Sales Price
Charlotte - Gastonia - Rock Hill
1302
+14.7
$194,108
All of Mecklenburg County
757
+21.5
$191,261
01 - Mecklenburg County (N)
131
+37.9
$ 171,985
02 - Mecklenburg County (E)
100
+14.9
$ 99,268
03 - Mecklenburg County (SE)
61
+10.9
$ 124,115
04 - Mecklenburg County (SSE)
55
-1-8
$ 246,892
145
+9.8
$ 315,134
06 - Mecklenburg County (SSW)
57
+72.7
$ 183,441
07 - Mecklenburg County (SW)
67
+55.8
$ 158,786
08 - Mecklenburg County (W)
44
+57.1
$ 61,821
09 - Mecklenburg County (NW)
51
+15.9
$134,259
10 - Union County
156
+6.8
$ 251,103
11 - Cabarrus County
130
+5.7
$ 179,655
12 - Iredell County
112
+7.7
$ 245,914
13 - Lake Norman
90
+15.4
$ 334,075
14 - Lincoln County
47
-11.3
$205,438
15 - Lake Wylie
21
-12.5
$388,381
16 - Gaston County
121
+2.5
$140,456
17 - York County, SC
136
+14.3
$ 208,045
42 - Mtn. Island Lake
17
+35.3
$179,607
99 - Uptown Charlotte
12
+20.0
$219,658
1686
+8.7
$192,472
MLS Area
05 - Mecklenburg County (S)
TOTAL (for All CMLS Area)
Volume 4, Issue 12
Price Range with Strongest Sales: Under $100,000
+4.8% +2.6% # Bedrooms Strongest Sales: 4+ bedrooms
Property Type Strongest Sales: Single Family
Data Courtesy Carolina MLS & 10K Research and Marketing.
On the Move - Helen Adams Realty
Volume 4, Issue 12
Page 3
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Nov 2011 Data Courtesy Carolina MLS.
Mary Schurr
704-591-5703
mary@maryschurr.com
www.maryschurr.com
Page 4
On the Move - Helen Adams Realty
Volume 4, Issue 12
November 2011 Home Sales Overview Total Closed Sales Up, Average Home Sales Prices, Inventory & Foreclosures Down Home prices are one of the most popular barometers of market vitality, yet they only tell part of the story. Soft prices may accompany improvements in other indicators such as purchase demand, absorption rates, seller concessions or market times. Regional, market-wide prices fall short by not recognizing the mix of homes that close each month, be it weighted toward singlefamily, lender-mediated or new construction. In addition, price movements often lag
changes elsewhere in the marketplace. In November, new listings in the Charlotte region decreased 16.3%, pending sales were up 12.8%, inventory levels shrank 24% (a common trend across the country), and average home sales price decreased 10.3%. Foreclosed inventory levels have dropped nearly 75% form their peak in 2010. Not only do forces beyond supply and demand affect home prices, but other factors
Mary Schurr 704-591-5703 mary@maryschurr.com www.maryschurr.com
Data and article excerpts from
outside of housing serve as inputs into the equation. New job growth and consumer confidence drive household formations which in turn fuels purchase demand and pressures prices. Similarly, when real incomes rise, families can afford more house and move-up buyers become increasingly motivated. To that end, the jobless rate fell from 9.0 percent to 8.6 percent in November – the lowest in 2.5 years.
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