Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 4, Issue 8
July 2011 Home Sales Overview Indicators Suggest Improving Conditions in Home Sales and Inventory Now that we've reached the height of summer, we're beginning to move beyond comparisons 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-
Market Activity and Trends for Charlotte & Surrounding Counties
AUGUST 2011
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 terrific 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 mortgage interest deduction are still in play. As consumers absorb distressed inventory and labor conditions improve, the wheels of recovery grind on.
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Residential Closings - Entire MLS
July 2010 - July 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
+9.7
+17%
-27.1%
-1.5%
-21.1%
150
Change in Closed Sales
Pending Sales
Change in New Listings
Average Sales Price
Total Active Listings
Average Days on Market
12 Months Supply of Homes for Sale
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 increased by 17%, and total active listings decreased by 21.1%.
Current Active Listings by Price Range
July 2011 Sales by Price Range
2% 1%
1% 1% 3% Under $100,000
3% 5% 20%
$100,001 - $150K
11%
$300,001 - $450K
18%
17%
18%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 21,730
$150,001 - $200K $200,001 - $300K
34%
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$100,001 - $150K
12%
$150,001 - $200K $200,001 - $300K
Under $100,000
5%
16% 18%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold July, 2011 = 2173 Data Courtesy Carolina MLS.
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