ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties
Mary Schurr
FEBRUARY 2012
704-591-5703
Residential Closings - Entire MLS
mary@maryschurr.com
Jan. 2011 - Jan. 2012 ASP = Average Sold Price Data Courtesy Carolina MLS.
+9.2%
+27.6%
Change in Closed Sales
Pending Sales
-6.2%
-0.1%
-32.4%
Change in New Listings
Average Sales Price
Total Active Listings
132 Average Days on Market
8.8 Months Supply of Homes for Sale
There were 1541 total closings in Jan. 2012, up 9.2% compared to Jan. 2011. 60% of all home sales in Jan. 2012 were in the $200,000 and under category. The average closing price for the Charlotte
metro area in Jan. 2012 was $190, $187,785, down 0.1% from Jan. 2011. In Jan. 2012, new listings decreased by 6.2%, pending sales increased by 27.6%, total active listings decreased by 32.4%.
Current Active Listings by Price Range
January 2012 Sales by Price Range
Total Active Listings = 22,647
Total Sold Jan. 2012 = 1541 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 January 2012 - By MLS Areas Units 1 Year Closed Change
Average Sales Price
Charlotte - Gastonia - Rock Hill
1207
+4.5
$190,769
All of Mecklenburg County
705
-2.1
$187,061
01 - Mecklenburg County (N)
134
+11.7
$ 152,293
02 - Mecklenburg County (E)
100
+3.1
$ 107,870
03 - Mecklenburg County (SE)
56
-1.8
$ 135,896
04 - Mecklenburg County (SSE)
78
+32.2
$ 256,347
05 - Mecklenburg County (S)
111
-1.8
$ 317,992
06 - Mecklenburg County (SSW)
49
-45.6
$ 188,063
07 - Mecklenburg County (SW)
43
-10.4
$ 147,757
08 - Mecklenburg County (W)
37
+5.7
$ 73,839
09 - Mecklenburg County (NW)
51
-8.9
$ 146,144
10 - Union County
161
+26.8
$ 257,867
11 - Cabarrus County
105
-4.5
$ 177,183
12 - Iredell County
99
+43.5
$ 219,227
13 - Lake Norman
59
-1.7
$ 348,227
14 - Lincoln County
47
+20.5
$177,640
15 - Lake Wylie
23
-21.1
$316,368
16 - Gaston County
105
-0.9
$110,677
17 - York County, SC
124
+47.6
$ 211,014
42 - Mtn. Island Lake
17
+35.3
$179,607
99 - Uptown Charlotte
11
-15.4
$234,162
1541
+9.2
$187,785
TOTAL (for All CMLS Area)
Jan. Home Sales Snapshot +15.1%
Residential Single Family, Townhomes & Condos MLS Area
Volume 5, Issue 1
Price Range with Strongest Sales: Under $100,000
+7.0% # Bedrooms Strongest Sales: 4+ bedrooms
+5.7% Property Type Strongest Sales: Condos
Data Courtesy Carolina MLS & 10K Research and Marketing.
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.
Mary Schurr
704-591-5703
mary@maryschurr.com
www.maryschurr.com
Page 4
On the Move - Helen Adams Realty
Volume 5, Issue 1
January 2012 Home Sales Overview 2011 Brought Important Improvements The media sometimes obsesses over the negatives, but last year brought several important improvements in key metrics that should not be brushed aside, such as an improved inventory picture. Foreclosures also dominate news stories, and for good reason. People should occupy homes, not banks. Which means qualified buyers need reliable access to mortgage capital, and distressed properties may need further attention in 2012 to expedite transfer of ownership and tax-base recapture.
Data and article excerpts from CMLS &10K Research Marketing.
New Listings in the Charlotte region decreased 6.2 percent to 3,813. Pending Sales were up 27.6 percent to 1,777. Inventory levels shrank 23.6 percent to 17,305 units. Home prices began the year on an up note. The Median Sales Price increased 2.4 percent to $146,550. List to Close remained flat at 155 days. Absorption rates improved as Months Supply of Inventory was down 27.6 percent to 8.8 months.
Mary Schurr 704-591-5703 mary@maryschurr.com www.maryschurr.com
U.S. economic data has been encouraging. The unemployment rate flirted with a 3year low and an initial reading on the fourth quarter of 2011 GDP was in-line with expectations. Mortgage rates posted yet another fresh new record low. The missing puzzle piece is still jobs. Improvements in the labor market will spur housing demand through new household formations, improve family financials and galvanize consumer confidence.
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