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.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Volume 4, Issue 5
Closed Units by Area
April Home Sales Snapshot
Residential Single Family, Townhomes & Condos
Price Range with Strongest Sales: Under $100,000
April 2011 - All MLS Areas
Units
One Year
Average
Closed
Change
Sales Price
All of Mecklenburg County
882
-14.9
$226,134
Charlotte - Gastonia - Rock Hill
1472
-17.2%
$209,412
01 - Mecklenburg County (N)
149
-27.3%
$ 150,000
02 - Mecklenburg County (E)
106
-2.8%
$ 118,359
03 - Mecklenburg County (SE)
64
-19.0%
$ 129,108
04 - Mecklenburg County (SSE)
88
0%
$ 333,461
162
-14.3%
$ 363,878
06 - Mecklenburg County (SSW)
62
-11.4%
$ 216,985
07 - Mecklenburg County (SW)
71
0%
$ 135,671
08 - Mecklenburg County (W)
38
-44.9%
$ 79,840
10 - Union County
174
-24.7%
$ 225,211
11 - Cabarrus County
149
-13.9%
$ 165,917
12 - Iredell County
135
-13.5%
$ 232,491
13 - Lake Norman
98
+12.6%
$ 427,334
14 - Lincoln County
47
-17.5%
$ 161,987
15 - Lake Wylie
34
0%
$ 381,836
16 - Gaston County
119
-36.7%
$ 125,991
17 - York County
139
-1.4%
$ 209,062
42 - Mtn. Island Lake
14
+22%
$237,792
99 - Uptown Charlotte
16
+6.7%
$267,566
1882
-15.8%
$203,428
MLS Area
05 - Mecklenburg County (S)
TOTAL (for All CMLS Area)
+5.9%
-7.5%
-12.7%
# Bedrooms Strongest Sales: 4+ bedrooms
Property Type Strongest Sales: Single Family
On the Move - Helen Adams Realty
Volume 4, Issue 5
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, April 2011
Data Courtesy Carolina MLS & 10K Research and Marketing.
www.helenadamsrealty.com
Page 3
Data Courtesy Carolina MLS.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Volume 4, Issue 5
Closed Units by Area
April Home Sales Snapshot
Residential Single Family, Townhomes & Condos
Price Range with Strongest Sales: Under $100,000
April 2011 - All MLS Areas
Units
One Year
Average
Closed
Change
Sales Price
All of Mecklenburg County
882
-14.9
$226,134
Charlotte - Gastonia - Rock Hill
1472
-17.2%
$209,412
01 - Mecklenburg County (N)
149
-27.3%
$ 150,000
02 - Mecklenburg County (E)
106
-2.8%
$ 118,359
03 - Mecklenburg County (SE)
64
-19.0%
$ 129,108
04 - Mecklenburg County (SSE)
88
0%
$ 333,461
162
-14.3%
$ 363,878
06 - Mecklenburg County (SSW)
62
-11.4%
$ 216,985
07 - Mecklenburg County (SW)
71
0%
$ 135,671
08 - Mecklenburg County (W)
38
-44.9%
$ 79,840
10 - Union County
174
-24.7%
$ 225,211
11 - Cabarrus County
149
-13.9%
$ 165,917
12 - Iredell County
135
-13.5%
$ 232,491
13 - Lake Norman
98
+12.6%
$ 427,334
14 - Lincoln County
47
-17.5%
$ 161,987
15 - Lake Wylie
34
0%
$ 381,836
16 - Gaston County
119
-36.7%
$ 125,991
17 - York County
139
-1.4%
$ 209,062
42 - Mtn. Island Lake
14
+22%
$237,792
99 - Uptown Charlotte
16
+6.7%
$267,566
1882
-15.8%
$203,428
MLS Area
05 - Mecklenburg County (S)
TOTAL (for All CMLS Area)
+5.9%
-7.5%
-12.7%
# Bedrooms Strongest Sales: 4+ bedrooms
Property Type Strongest Sales: Single Family
On the Move - Helen Adams Realty
Volume 4, Issue 5
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, April 2011
Data Courtesy Carolina MLS & 10K Research and Marketing.
www.helenadamsrealty.com
Page 3
Data Courtesy Carolina MLS.
www.helenadamsrealty.com
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.
www.helenadamsrealty.com