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On the Move - Helen Adams Realty
ONthe MOve
Volume 4, Issue 7
June 2011 Home Sales Overview Local Data Offers More Reliable Forecast Than National Headlines Where is our market is heading? Some accounts are optimistic while others, well, aren't. The good news is that local data offers a more reliable tone than national sound bites can offer. When it comes to hearing our market's true message, let's listen. New Listings in the Charlotte region decreased 19.2 percent to 4,067. Pending Sales were up 18.0 percent to 2,358.
Inventory levels shrank 19.3 percent to 22,362 units, but even choosy buyers can find top-notch homes. This price needle wouldn't budge this time. The Median Sales Price declined 3.7 percent to $156,750. List to Close increased 6.4 percent to 152 days. Consumers were absorbing homes more quickly as Months Supply of Inventory was down 7.4 percent to 12.5 months. Afforda-
Market Activity and Trends for Charlotte & Surrounding Counties
JULY 2011
Data and article excerpts from CMLS & 10K
bility also improved. On the national front, the interest rate dropped to 4.79 percent on a 30-year fixed conventional and 4.44 percent for FHA. The unemployment rate has been stable around 9.0 percent and initial unemployment claims have continued to fall. Wages and payroll jobs are also improving slowly.
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Residential Closings - Entire MLS
June 2010 - June 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
-8.1%
+18%
Change in Closed Sales
Pending Sales
-19.2% +3.9% -19.3% Change in New Listings
Average Sales Price
152
Total Active Listings
Average Days on Market
12.5 Months Supply of Homes for Sale
There were 2332 total closings in June 2011, down 8.1% compared to June 2010. 63% of all home sales in June 2011 were in the $200,000 and under category. The average closing price for the
Charlotte metro area in June 2011 was $216,399, up 3.9% from June 2010. In June 2011, new listings decreased by 19.2%, pending sales increased by 18%, and active listings decreased by 19.3%.
Current Active Listings by Price Range
June 2011 Sales by Price Range
2% 1%
1% 1% 4% Under $100,000
3% 4% 19%
$100,001 - $150K
10%
17%
$200,001 - $300K
17%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 22,362
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$150,001 - $200K
28%
$300,001 - $450K
18%
$100,001 - $150K
11%
$150,001 - $200K $200,001 - $300K
Under $100,000
3%
19%
16%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold June, 2011 = 2332 Data Courtesy Carolina MLS.
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