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ONthe MOve Market Activity and Trends for Charlotte & Surrounding Counties

Mary Schurr

SEPTEMBER 2011

704-591-5703

www.helenadamsrealty.com

mary@maryschurr.com

Residential Closings - Entire MLS

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

+25.6

+24.6

Change in Closed Sales

Pending Sales

-18.4%

-9.2%

-22.5%

Change in New Listings

Average Sales Price

Total Active Listings

146 Average Days on Market

11.4 Months Supply of Homes for Sale

There were 2289 total closings in Aug. 2011, up 25.6% compared to Aug. 2010. 70% of all home sales in Aug. 2011 were in the $200,000 and under category. The average closing price for the

Charlotte metro area in Aug. 2011 was $205,915, down 9.2% from Aug. 2010. In Aug. 2011, new listings decreased by 18.4%, pending sales increased by 24.6%, total active listings decreased by 22.5%.

Current Active Listings by Price Range

August 2011 Sales by Price Range

2% 1% 3% 5%

$300,001 - $450K

18%

17%

18%

$450,001 - $600K

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

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

35%

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

$600,001 - $800K

20%

$100,001 - $150K

12%

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

Under $100,000

5%

$100,001 - $150K

11%

20%

1% 1% 3%

Under $100,000

16% 19%

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

Total Active Listings = 20,924

Total Sold August, 2011 = 2289 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

August Home Sales Snapshot

August 2011 - By MLS Areas

+9.7%

Residential Single Family, Townhomes & Condos Units Closed

1 Year Change

Average Sales Price

Charlotte - Gastonia - Rock Hill

1772

+23.1

$211,400

All of Mecklenburg County

1066

+23.7

$219,763

01 - Mecklenburg County (N)

182

+14.5

$ 178,481

02 - Mecklenburg County (E)

139

+46.3

$ 98,450

03 - Mecklenburg County (SE)

57

+3.76

$ 151,443

04 - Mecklenburg County (SSE)

104

+14.3

$ 329,703

05 - Mecklenburg County (S)

197

+10.1

$ 360,370

06 - Mecklenburg County (SSW)

72

+50.0

$ 188,826

07 - Mecklenburg County (SW)

81

+97.6

$ 123,018

08 - Mecklenburg County (W)

62

+24.0

$ 74,107

09 - Mecklenburg County (NW)

97

+24.4

$160,942

10 - Union County

189

+7.4

$ 261,095

11 - Cabarrus County

186

+27.4

$ 190,989

12 - Iredell County

174

+42.6

$ 239,822

13 - Lake Norman

122

+27.1

$ 403,584

14 - Lincoln County

52

+15.6

$ 173,285

15 - Lake Wylie

39

+25.8

$306,662

16 - Gaston County

149

+3.5

$ 127,225

17 - York County, SC

178

+8.5

$233,365

42 - Mtn. Island Lake

17

+35.3

$179,607

99 - Uptown Charlotte

11

-15.4

$285,933

2289

+25.6

$205,915

MLS Area

TOTAL (for All CMLS Area)

Volume 4, Issue 9

Price Range with Strongest Sales: Under $100,000

-0.1% # Bedrooms Strongest Sales: 4+ bedrooms

-4.5% Property Type Strongest Sales: Single Family

Data Courtesy Carolina MLS & 10K Research and Marketing.


On the Move - Helen Adams Realty

Volume 4, Issue 9

Page 3

Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

Source: Freddie Mac, NAR, August, 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 9

August 2011 Home Sales Overview Buyer Activity and Market Balance is Stabilizing Despite some rough economic sledding in August, there have been noteworthy shifts on both sides of the closing table. Buyer activity is moving back in line with historical trends while sellers are making fewer concessions in order to sell their homes. Falling supply and improving absorption rates in many regions also suggest that market balance is realigning towards neutral. Locally, a few indicators posted positive movement

Data and article excerpts from CMLS & 10K Research

over August 2010. New Listings in the Charlotte region decreased 18.4 percent to 3,886. Pending Sales were up 24.6 percent to 2,258. Inventory levels shrank 22.5 percent to 20,924 units, dampening any potential oversupply issues down the road. Prices dipped lower. The Median Sales Price decreased 2.5 percent to $158,000. List to Close increased 0.1 percent to 146 days. Absorption rates improved as Months Sup-

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

ply of Inventory was down 15.3 percent to 11.4 months. The economy bobbed along just this side of positive in August. Consumer confidence, which often affects housing demand, showed some slack even as personal income and spending both increased modestly. Low interest rates, declining supply and stabilizing prices are beacons of hope in the harbor, but the recovery still needs wind in its sails

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


September 2011 Mary Schurr Charlotte Real Estate Newsletter