june 2010 charlotte nc real estate market activity
DESCRIPTION
Charlotte NC Real etstate market activity for June 2010. Plus Home Appreciation Rates in Charlotte from 1978 to 2010.TRANSCRIPT
Annual Appreciation for the Charlotte Metro Area
Page 4 On the Move - Helen Adams Real ty Volume 2, Issue 6
Based on the Home Price Index (HPI) www.fhfa.gov
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
800‐851‐5253 / www.helenadamsrealty.com
2010
-7.7%
Year
ly A
ppre
ciat
ion
Rat
e
20
09
Year (2010 - 1978) -2.5%
2005
20
04
2007
20
06
2001
20
00
2003
20
02
1997
19
96
1999
19
98
1993
19
92
1995
19
94
1989
19
88
1991
19
90
1985
19
84
1987
19
86
1981
19
80
1983
19
82
1979
19
78
2008
3.1%
7.6% 7.0%
4.3%
2.5% 2.6% 2.4%
5.1%
3.3% 4.1%
5.3% 5.4% 5.9% 4.8%
3.1% 2.1% 2.3% 2.2% 2.0%
4.9%
6.3%
8.1%
6.0% 3.1%
8.5%
0.8%
4.9% 5.7%
7.9%
11.7%
13.8%
See our Monthly Market Data Reports on:
www.helenadamsrealty.com/market_data
The HPI is a broad measure of the change in annual single family home prices. The HPI is a timely, accurate indicator of home price trends in geographical areas across the US. 2009 and first quarter of 2010 show the first signs of home depreciation in the Charlotte metro area in over 30 years.
2010
-7.8%
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
J U N E 2 0 1 0
The average closing price for the Charlotte area in May 2010 was $212,454, up approximately 6.3% compared to 2009. Average days on market was 141.5 for the month of May, 2010.
There were 2537 total closings in May 2010, up 24.7% compared to 2009. The bulk of home sales continues to be in the lower price ranges, with 75% of sales in the $250,000 and under category.
Residential Closings - Entire MLS 2009 - 2010
May 2010 Closed Sales by Price Range
www.helenadamsrealty.com
www.helenadamsrealty.com
the
Current Active Listings by Price Range
Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
Total Active Listings = 26,007
Data Courtesy Carolina MLS.
22%
12%
14%
10%
3%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold May 2010 = 2537
Data Courtesy Carolina MLS.
14%
12% 7%
4% 1%
$500K - $1 Million
Over $1 Million 29%
9% Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
$500K - $1 Million
Over $1 Million
33%
28%
345 sold 61-90 days
232 sold
91-120 days
Page 2 On the Move - Helen Adams Real ty Volume 2, Issue 6
Total Closed Units May 2010 - All MLS Areas
Residential Single Family, Townhomes & Condos
www.helenadamsrealty.com
Days on Market
MLS Area Units Closed
Total Closed Volume
Average Closing Price
01 ‐ Mecklenburg County (N) 204 $ 36,867,101 $ 180,721
02 ‐ Mecklenburg County (E) 134 $ 16,994,615 $ 126,825
03 ‐ Mecklenburg County (SE) 84 $ 11,626,813 $ 138,414
04 ‐ Mecklenburg County (SSE) 111 $ 34,558,534 $ 311,338
05 ‐ Mecklenburg County (S) 237 $ 90,985,109 $ 383,903
06 ‐ Mecklenburg County (SSW) 88 $ 18,150,036 $ 206,250
07 ‐ Mecklenburg County (SW) 76 $ 10,497,212 $ 138,121
08 ‐ Mecklenburg County (W) 78 $ 6,905,888 $ 88,537
09 ‐ Mecklenburg County (NW) 109 $ 17,296,755 $ 158,685
10 ‐ Union County 240 $ 67,248,633 $ 280,202
11 ‐ Cabarrus County 201 $ 36,180,580 $ 180,002
12 ‐ Iredell County 122 $ 16,732,944 $ 137,155
13 ‐ Lake Norman 120 $ 50,971,761 $ 424,764
14 ‐ Lincoln County 48 $ 6,585,900 $ 137,206
15 ‐ Lake Wylie 47 $ 18,970,211 $ 403,621
16 ‐ Gaston County 186 $ 22,219,981 $ 119,462
17 ‐ York County 148 $ 27,897,473 $ 188,496
20 ‐ Alexander County 13 $ 1,676,500 $ 128,961
21 ‐ Rowan County 73 $ 8,185,880 $ 112,135
22 ‐ Cleveland County 28 $ 3,726,051 $ 133,073
23 ‐ Stanly County 28 $ 3,893,050 $ 139,037
24 ‐ Lancaster County 55 $ 11,848,289 $ 215,423
25 ‐ Anson County 7 $ 678,050 $ 96,864
29 ‐ Catawba County 37 $ 4,810,400 $ 130,010
35 ‐ Chester County 5 $ 310,650 $ 62,130
42 ‐ Mtn. Island Lake 23 $ 5,573,800 $ 242,339
99 ‐ Uptown Charlotte 17 $ 3,731,400 $ 219,494
TOTAL (for Areas Listed Above) 2519 $535,123,616 $212,454
The following statistics apply to March 6 to April 5, 2010, and reflect days on market from the original listing date to the recorded closing date.
• 46 percent of homes closed in 121+ days.
• 12 percent of homes closed in 91‐120 days.
• 18 percent of homes closed in 61‐90 days.
• 18 percent of homes closed in 31‐60 days.
• 5 percent of homes closed in 0‐30 days.
Listing Date to Closing Date
121+ days
91-120 days
61-90 days
31-60 days
0-30 days
Average List to Close April = 147.7 days
Data Courtesy Carolina MLS.
877 sold 121+ days
348 sold 31-60 days
98 sold 0-30 days
Page 3 On the Move - Helen Adams Real ty Volume 2, Issue 6
www.helenadamsrealty.com
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, May, 2010
Data Courtesy Carolina MLS.
345 sold 61-90 days
232 sold
91-120 days
Page 2 On the Move - Helen Adams Real ty Volume 2, Issue 6
Total Closed Units May 2010 - All MLS Areas
Residential Single Family, Townhomes & Condos
www.helenadamsrealty.com
Days on Market
MLS Area Units Closed
Total Closed Volume
Average Closing Price
01 ‐ Mecklenburg County (N) 204 $ 36,867,101 $ 180,721
02 ‐ Mecklenburg County (E) 134 $ 16,994,615 $ 126,825
03 ‐ Mecklenburg County (SE) 84 $ 11,626,813 $ 138,414
04 ‐ Mecklenburg County (SSE) 111 $ 34,558,534 $ 311,338
05 ‐ Mecklenburg County (S) 237 $ 90,985,109 $ 383,903
06 ‐ Mecklenburg County (SSW) 88 $ 18,150,036 $ 206,250
07 ‐ Mecklenburg County (SW) 76 $ 10,497,212 $ 138,121
08 ‐ Mecklenburg County (W) 78 $ 6,905,888 $ 88,537
09 ‐ Mecklenburg County (NW) 109 $ 17,296,755 $ 158,685
10 ‐ Union County 240 $ 67,248,633 $ 280,202
11 ‐ Cabarrus County 201 $ 36,180,580 $ 180,002
12 ‐ Iredell County 122 $ 16,732,944 $ 137,155
13 ‐ Lake Norman 120 $ 50,971,761 $ 424,764
14 ‐ Lincoln County 48 $ 6,585,900 $ 137,206
15 ‐ Lake Wylie 47 $ 18,970,211 $ 403,621
16 ‐ Gaston County 186 $ 22,219,981 $ 119,462
17 ‐ York County 148 $ 27,897,473 $ 188,496
20 ‐ Alexander County 13 $ 1,676,500 $ 128,961
21 ‐ Rowan County 73 $ 8,185,880 $ 112,135
22 ‐ Cleveland County 28 $ 3,726,051 $ 133,073
23 ‐ Stanly County 28 $ 3,893,050 $ 139,037
24 ‐ Lancaster County 55 $ 11,848,289 $ 215,423
25 ‐ Anson County 7 $ 678,050 $ 96,864
29 ‐ Catawba County 37 $ 4,810,400 $ 130,010
35 ‐ Chester County 5 $ 310,650 $ 62,130
42 ‐ Mtn. Island Lake 23 $ 5,573,800 $ 242,339
99 ‐ Uptown Charlotte 17 $ 3,731,400 $ 219,494
TOTAL (for Areas Listed Above) 2519 $535,123,616 $212,454
The following statistics apply to March 6 to April 5, 2010, and reflect days on market from the original listing date to the recorded closing date.
• 46 percent of homes closed in 121+ days.
• 12 percent of homes closed in 91‐120 days.
• 18 percent of homes closed in 61‐90 days.
• 18 percent of homes closed in 31‐60 days.
• 5 percent of homes closed in 0‐30 days.
Listing Date to Closing Date
121+ days
91-120 days
61-90 days
31-60 days
0-30 days
Average List to Close April = 147.7 days
Data Courtesy Carolina MLS.
877 sold 121+ days
348 sold 31-60 days
98 sold 0-30 days
Page 3 On the Move - Helen Adams Real ty Volume 2, Issue 6
www.helenadamsrealty.com
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, May, 2010
Data Courtesy Carolina MLS.
Annual Appreciation for the Charlotte Metro Area
Page 4 On the Move - Helen Adams Real ty Volume 2, Issue 6
Based on the Home Price Index (HPI) www.fhfa.gov
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
800‐851‐5253 / www.helenadamsrealty.com
2010
-7.7%
Year
ly A
ppre
ciat
ion
Rat
e
20
09
Year (2010 - 1978) -2.5%
2005
20
04
2007
20
06
2001
20
00
2003
20
02
1997
19
96
1999
19
98
1993
19
92
1995
19
94
1989
19
88
1991
19
90
1985
19
84
1987
19
86
1981
19
80
1983
19
82
1979
19
78
2008
3.1%
7.6% 7.0%
4.3%
2.5% 2.6% 2.4%
5.1%
3.3% 4.1%
5.3% 5.4% 5.9% 4.8%
3.1% 2.1% 2.3% 2.2% 2.0%
4.9%
6.3%
8.1%
6.0% 3.1%
8.5%
0.8%
4.9% 5.7%
7.9%
11.7%
13.8%
See our Monthly Market Data Reports on:
www.helenadamsrealty.com/market_data
The HPI is a broad measure of the change in annual single family home prices. The HPI is a timely, accurate indicator of home price trends in geographical areas across the US. 2009 and first quarter of 2010 show the first signs of home depreciation in the Charlotte metro area in over 30 years.
2010
-7.8%
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
J U N E 2 0 1 0
The average closing price for the Charlotte area in May 2010 was $212,454, up approximately 6.3% compared to 2009. Average days on market was 141.5 for the month of May, 2010.
There were 2537 total closings in May 2010, up 24.7% compared to 2009. The bulk of home sales continues to be in the lower price ranges, with 75% of sales in the $250,000 and under category.
Residential Closings - Entire MLS 2009 - 2010
May 2010 Closed Sales by Price Range
www.helenadamsrealty.com
www.helenadamsrealty.com
the
Current Active Listings by Price Range
Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
Total Active Listings = 26,007
Data Courtesy Carolina MLS.
22%
12%
14%
10%
3%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold May 2010 = 2537
Data Courtesy Carolina MLS.
14%
12% 7%
4% 1%
$500K - $1 Million
Over $1 Million 29%
9% Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
$500K - $1 Million
Over $1 Million
33%
28%