august 2011 mary schurr charlotte nc newsletter
DESCRIPTION
Information about the real estate market in Charlotte NC based on MLS data from the month of July 2011.TRANSCRIPT
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
A U G U S T 2 0 1 1
There were 2173 total closings in July 2011, up 9.7% compared to
July 2010. 68% of all home sales in July 2011 were in the $200,000
and under category. The average closing price for the Charlotte
metro area in July 2011 was $213,354, down 1.5% from June 2010.
In July 2011, new listings decreased by 27.1%, pending sales in-
creased by 17%, and total active listings decreased by 21.1%.
Residential Closings - Entire MLS July 2010 - July 2011
July 2011 Sales by Price Range
www.helenadamsrealty.com
the
Current Active Listings by Price Range
Under $100,000
$100,001 - $150K
$150,001 - $200K
$200,001 - $300K
$300,001 - $450K
Total Active Listings = 21,730
20%
20%
18%
11%
3%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold July, 2011 = 2173
Data Courtesy Carolina MLS.
$450,001 - $600K
$600,001 - $800K
17%
5%
$800,001 - $1M
Over $1 Million
2% 1%
Under $100,000
$100,001 - $150K
$150,001 - $200K
$200,001 - $300K
$300,001 - $450K 34%
18%
18%
12%
5%
$450,001 - $600K
$600,001 - $800K
16%
$800,001 - $1M
Over $1 Million
1% 1% 3%
Change in
Closed Sales
Change in
New Listings
Average
Sales Price
Total Active
Listings
Months Supply of
Homes for Sale
Average Days
on Market
Pending
Sales
+9.7% +17% -27.1% -1.5% -21.1% 150 12
Mary Schurr
704-591-5703
Mary Schurr 704-591-5703 [email protected] www.maryschurr.com
Page 2 On the Move - Helen Adams Realty Volume 4, Issue 8
Closed Units by Area July 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos
MLS Area Units Closed
1 Year Change
Average Sales Price
Charlotte - Gastonia - Rock Hill 1721 +9.5 $219,920
All of Mecklenburg County 999 +9.4 $227,856
01 - Mecklenburg County (N) 156 -9.3% $ 202,848
02 - Mecklenburg County (E) 117 +7.3 $ 115,997
03 - Mecklenburg County (SE) 79 +31.7 $ 125,099
04 - Mecklenburg County (SSE) 88 +3.5 $ 304,549
05 - Mecklenburg County (S) 192 +12.9 $ 374,194
06 - Mecklenburg County (SSW) 86 +34.4 $ 230,614
07 - Mecklenburg County (SW) 72 +44.4 $ 127,789
08 - Mecklenburg County (W) 47 -16.1% $ 65,037
09 - Mecklenburg County (NW) 88 +8.6 $156,132
10 - Union County 218 +7.9 $ 272,367
11 - Cabarrus County 166 +19.4 $ 182,870
12 - Iredell County 140 +2.2 $ 249,909
13 - Lake Norman 98 +5.4 $ 477,369
14 - Lincoln County 54 +28.6 $ 214,613
15 - Lake Wylie 32 -20% $318,782
16 - Gaston County 149 +3.5 $ 127,225
17 - York County, SC 178 +8.5 $233,365
42 - Mtn. Island Lake 22 +41 $226,765
99 - Uptown Charlotte 15 +15.4 $285,933
TOTAL (for All CMLS Area) 2173 +9.7 $213,354
July Home Sales Snapshot
Data Courtesy Carolina MLS & 10K Research and Marketing.
+8.4% -2.5% -7.2% Price Range with
Strongest Sales:
Under $100,000
# Bedrooms
Strongest Sales:
4+ bedrooms
Property Type
Strongest Sales:
Single Family
Page 3 On the Move - Helen Adams Realty Volume 4, I ssue 8
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, July, 2011
Data Courtesy Carolina MLS.
Mary Schurr 704-591-5703 [email protected] www.maryschurr.com
Page 4 On the Move - Helen Adams Realty Volume 4, I ssue 8
July 2011 Home Sales Overview
Now that we've reached the height of sum-
mer, we're beginning to move beyond com-
parisons to the 2010 “homebuyer’s tax
incentive market”. Qualified buyers may
find more attractive opportunities now
than during either of the recent tax credits.
Interest rates should hold their ground
around five percent, though a shift in the
federal credit rating could change that.
A few indicators suggest improving condi-
Indicators Suggest Improving Conditions in Home Sales and Inventory Data and article excerpts from CMLS & 10K Research Marketing.
tions. New listings in the Charlotte region
decreased 27.1 percent, pending sales were
up 17.0 percent, and closed sales enjoyed a
9.7% boost. Inventory levels shrank 21.1
percent, but consumers are still finding ter-
rific opportunities. Buyers absorbed homes
more quickly in July, as months supply of
inventory was down 11.5 percent. Second
quarter GDP growth was 1.3 percent after a
0.4 percent gain in the first quarter. We
added 117,000 new jobs in July, a stronger
gain than expected. Even though a budget
deal has been reached, challenges persist.
Changes to Fannie, Freddie and the mort-
gage interest deduction are still in play. As
consumers absorb distressed inventory and
labor conditions improve, the wheels of
recovery grind on.
Mary Schurr
704-591-5703
www.maryschurr.com
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