Page 4
On the Move - Helen Adams Realty
Volume 4, Issue 5
April 2011 Home Sales Overview Positive News Suggests Recovery is Under Way Due to the 2010 tax credit, current market activity can look drastically different than it did one year ago, but there is some positive news in the mix to suggest that recovery is under way. Inventory levels in April shrank 16.5 percent to 22,999 units – a positive trend that should preserve market balance. Prices were more or less stable. The Median Sales Price increased
Data and article excerpts from CMLS & 10K Research and Marketing.
2.0 percent to $153,000. The List to Close metric increased 8.6 percent to 154 days. The supply-demand balance improved as Months Supply of Inventory was down 9.8 percent to 12.5 months. The segment of homes that tended to sell quickest was the $100,00 and below range at 127 average days on market. Single family homes saw the largest price gain. Nationally, the interest rate is 5.0 percent on a
30-year fixed conventional and the unemployment rate edged up to 9.0 percent in April, even as the economy added 244,000 jobs. Job seekers showed more confidence, a potential indicator of future housing demand. Moving forward, expect a different story to unfold in our market. We'll soon be comparing current activity to a post-credit slump that occurred during the summer and fall of 2010.
Residential Closings - Entire MLS
April 2010 - April 2011 ASP = Average Sold Price Data Courtesy Carolina MLS.
-15%
-25.0% -26.1% +1.0%
Change in Closed Sales
Pending Sales
Change in New Listings
-16.5%
154
12.5
Total Active Listings
Average Days on Market
Months Supply of Homes for Sale
Average Sales Price
There were 1882 total closings in April 2011, down 15% compared to April 2010. 64% of all home sales in April 2011 were in the $200,000 and under category. The average closing price for the
Charlotte metro area in April 2011 was $203,428, up 1.0% from April 2010. In April 2011, new listings decreased by 26%, pending sales decreased by 25%, and total active listings decreased by 16.5%.
Current Active Listings by Price Range
April Closed Sales by Price Range
1% 2%
1% 1% 3% Under $100,000
3% 5% 20%
$100,001 - $150K
11%
17%
$200,001 - $300K
17%
$450,001 - $600K
$800,001 - $1M Over $1 Million
Total Active Listings = 22,999
$300,001 - $450K $450,001 - $600K
$600,001 - $800K
20%
$150,001 - $200K
28%
$300,001 - $450K
18%
Under $100,000 $100,001 - $150K
10%
$150,001 - $200K $200,001 - $300K
5%
2%
20%
16%
$600,001 - $800K $800,001 - $1M Over $1 Million
Total Sold April, 2011 = 1882 Data Courtesy Carolina MLS.
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