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ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties

Mary Schurr

OCTOBER 2011

704-591-5703

www.helenadamsrealty.com

mary@maryschurr.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%

Change in New Listings

Average Sales Price

Total Active Listings

157 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

Charlotte metro area in Sept. 2011 was $196,686, down 6.5% from Sept. 2010. In Sept. 2011, new listings decreased by 20.8%, pending sales increased by 14.3%, total active listings decreased by 23.3%.

Current Active Listings by Price Range

October 2011 Sales by Price Range

2% 1% 4% 5%

$300,001 - $450K

18%

17%

17%

$450,001 - $600K

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

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

28%

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

$600,001 - $800K

17%

$100,001 - $150K

13%

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

Under $100,000

5%

$100,001 - $150K

12%

21%

1% 1% 3%

Under $100,000

16% 20%

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

Total Active Listings = 20,301

Total Sold September, 2011 = 1970 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

Sept. Home Sales Snapshot

October 2011 - By MLS Areas

+10.7%

Residential Single Family, Townhomes & Condos Units Closed

1 Year Change

Average Sales Price

Charlotte - 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 Charlotte

13

+116.7

$252,192

1970

+26.0

$196,686

MLS Area

TOTAL (for All CMLS Area)

Volume 4, Issue 10

Price Range with Strongest Sales: Under $100,000

-1.5% # Bedrooms Strongest Sales: 4+ bedrooms

-1.7% Property Type Strongest Sales: Single Family

Data Courtesy Carolina MLS & 10K Research and Marketing.


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.

Mary Schurr

704-591-5703

mary@maryschurr.com

www.maryschurr.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 People talk about the national housing market like it’s some static thing, like a toaster. The thing is, there is no national housing market. Just like there is no national weather forecast. That doesn't mean national averages don't have their place, but you don’t grab a raincoat and an umbrella in Miami based on the weather in Seattle. 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

Data and article excerpts from CMLS & 10K Research

forecast. New Listings in the Charlotte region decreased 20.8 percent, pending sales were up 14.3 percent, Inventory levels shrank 23.3 percent- a positive supply-side improvement. Prices were still soft. The Median sales price decreased 4.5 percent to $149,900. Days on market increased 8.4 percent to 157 days. Absorption rates improved as months supply of inventory was down 19.0 percent. A dash of uplifting economic news was overshadowed by debt

Mary Schurr 704-591-5703 mary@maryschurr.com www.maryschurr.com

clouds from the ongoing turmoil in Greece and the threat of bank contagion. Manufacturing activity and construction spending both picked up in September, temporarily calming fears of the dreaded double-dip storm. As for the lending climate, the Fed's recent "Operation Twist" should keep mortgage rates at or near their current multidecade lows for the next couple of years. "Jobs, Jobs, Jobs!" should still be the battle cry.

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


October 2011 Mary Schurr Real Estate Newsletter