august 2011 on the move newsletter - brought to you by evelyn mccorkle
DESCRIPTION
Monthly newsletter published by Helen Adams Realty detailing news and statistics about the real estate market in Charlotte, NC and surrounding areas.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
$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
Data Courtesy Carolina MLS.
Brought to You by Evelyn McCorkle
Evelyn McCorkle — 704. 957. 3558 — [email protected] — www.evelynmccorkle.com
Page 2 On the Move - He len 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
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
09 - Mecklenburg County (NW) 88 +8.6 $156,132
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 - He len Adams Realty Volume 4, Issue 8
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, July, 2011
Data Courtesy Carolina MLS.
Evelyn McCorkle — 704. 957. 3558 — [email protected] — www.evelynmccorkle.com
Page 4 On the Move - He len Adams Realty Volume 4, Issue 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.
Evelyn MCCorkle
Trusted Real Estate Advisor 704.957.3558
2301 Randolph Road
Charlotte NC 28207