Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 4, Issue 6
May 2011 Home Sales Overview Road to Recovery Starts from the Bottom Up The road to recovery can look similar to a locomotive coming around a bend. Some cars have already made it around the curve while others haven't yet reached it. The same can be said of various market segments. For the 12-month period spanning June 2010 through May 2011, Pending Sales in the Charlotte region were down 12.6 percent from the same period a year
Market Activity and Trends for Charlotte & Surrounding Counties
JUNE 2011
Data and article excerpts from CMLS & 10K Research and Marketing.
prior. However, the largest gain occurred in the $100,000 and Below range, where they increased 6.1 percent to 6,060 units. Nationally, the interest rate dropped to 4.88 percent on a 30-year fixed conventional while the unemployment rate snuck up to 9.1 percent in May. The economy added 54,000 jobs, which was far less than April.
The slowest job growth occurred in industries dependent on discretionary spending that's now going to the gas pump. As recovery goes, so goes positive trends. Some metrics should continue to show favorable movement compared to the post-credit slump seen during the summer and fall of last year.
www.melissabrownhomes.com
Residential Closings - Entire MLS
May 2010 - May 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
-11.5% +13.5% -11.7% +0.6% -17.3% Change in Closed Sales
Pending Sales
Change in New Listings
Average Sales Price
Total Active Listings
154
12.5
Average Days on Market
Months Supply of Homes for Sale
There were 2194 total closings in May 2011, down 11.5% compared to May 2010. 64% of all home sales in May 2011 were in the $200,000 and under category. The average closing price for
the Charlotte metro area in May 2011 was $208,999, up 0.6% from May 2010. In May 2011, new listings decreased by 11.7%, pending sales increased by 13.5%, and active listings decreased by 17.3%.
Current Active Listings by Price Range
May, 2011 Sales by Price Range
2% 1%
1% 1% 3% Under $100,000
3% 5% 19%
$100,001 - $150K
11%
17%
$200,001 - $300K
17%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 22,763
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$150,001 - $200K
28%
$300,001 - $450K
18%
$100,001 - $150K
10%
$150,001 - $200K $200,001 - $300K
Under $100,000
2%
20%
16%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold May, 2011 = 2194 Data Courtesy Carolina MLS.
www.helenadamsrealty.com