july 2012 on the move newsletter - brought to you by eric layne
DESCRIPTION
Monthly newsletter, published by Helen Adams Realty, detailing news and statistics about the real estate market in Charlotte, NC and the surrounding areas.TRANSCRIPT
ON MOve Market Ac vity and Trends for Charlo e & Surrounding Coun es
J u L Y 2 0 1 2
There were 2657 total closings in June 2012, up 14% compared to
June 2011. 64% of all home sales in June 2012 were in the
$200,000 and under category. The average closing price for the
Charlo e metro area in June 2012 was $227,924, up 5.3% from June
2011. In June 2012, new lis ngs decreased by 0.8%, pending sales
increased by 8.9%, total ac ve lis ngs decreased by 17.4%.
Residential Closings - Entire MLS June 2011 - June 2012
the
Change in
Closed Sales
Change in
New Lis ngs
Average
Sales Price
Total Ac ve
Lis ngs
Months Supply of
Homes for Sale
Average Days
List to Close
Pending
Sales
ASP = Average Sold Price, Data Courtesy Carolina MLS.
+14.0% +8.9% -0.8% +5.3% -17.4% 139 9.3
Current Active Listings by Price Range
Total Ac ve Lis ngs = 19,510
June 2012 Sales by Price Range
Total Pending Sales = 25,152
Data Courtesy Carolina MLS—Based on a rolling 12‐month average.
ERIC LAYNE 704-780-3413 [email protected] www.EricLayneRealEstate.com
Eric Layne 704-780-3413
Page 2 On the Move - He len Adams Realty Volume 5, Issue 7
Closed Units by Area June 2012 - By MLS Areas
Residential Single Family, Townhomes & Condos
MLS Area Units
Closed
1 Year
Change
Average
Sales Price
Charlo e ‐ Gastonia ‐ Rock Hill 2101 +13.6 $ 237,411
All of Mecklenburg County 1238 +11.7 $ 255,593
01 ‐ Mecklenburg County (N) 184 ‐8.5 $ 201,736
02 ‐ Mecklenburg County (E) 141 +11.9 $ 115,137
03 ‐ Mecklenburg County (SE) 77 ‐2.5 $ 138,615
04 ‐ Mecklenburg County (SSE) 148 +43.7 $ 337,750
05 ‐ Mecklenburg County (S) 278 +26.9 $ 431,842
06 ‐ Mecklenburg County (SSW) 100 +25.0 $ 240,247
07 ‐ Mecklenburg County (SW) 70 ‐18.6 $ 153,212
08 ‐ Mecklenburg County (W) 56 +7.7 $ 73,616
10 ‐ Union County 260 +5.3 $ 257,835
11 ‐ Cabarrus County 200 +21.2 $ 189,696
12 ‐ Iredell County 191 +13.0 $ 231,419
13 ‐ Lake Norman 137 +17.1 $ 395,525
14 ‐ Lincoln County 67 +21.8 $ 208,017
15 ‐ Lake Wylie 57 +46.2 $ 390,683
16 ‐ Gaston County 177 +27.3 $ 162,403
17 ‐ York County, SC 217 +18.6 $ 220,989
42 ‐ Mtn. Island Lake 17 +35.3 $ 179,607
99 ‐ Uptown Charlo e 28 +75.0 $ 228,781
TOTAL (for All CMLS Area) 2657 +14.0 $227,924
09 ‐ Mecklenburg County (NW) 96 +17.1 $ 148,304
June Home Sales Snapshot
Data Courtesy Carolina MLS & 10K Research and Marke ng.
+23.2% +16.9% +21.6% Price Range with
Strongest Sales:
$200-300,000
# Bedrooms
Strongest Sales:
2 BR or Less
Property Type
Strongest Sales:
Condos
Page 3 On the Move - He len Adams Realty Volume 5, Issue 7
Pending Contracts
Average Residential Sales Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, March 2012
Data Courtesy Carolina MLS.
Data provided by MLS—Based on accepted contracts for the given month.
ERIC LAYNE 704-780-3413 [email protected] www.EricLayneRealEstate.com
Page 4 On the Move - He len Adams Realty Volume 5, Issue 7
June 2012 Home Sales Overview Residen al Real Estate Takes Meaningful Strides Towards Recovery Data and ar cle excerpts from CMLS Monthly Indicators
improvement. Let's see what the rest of our local data has to say.
New Lis ngs in the Charlo e region decreased 0.8 percent to 4,109. Pending Sales were up 8.9 percent to 2,506. Inventory levels shrank 17.4 percent to 19,510 units.
Prices moved higher. The Median Sales Price increased 9.4 percent to $171,500. List to Close was down 8.4 percent to 139 days. The supply‐demand balance stabilized as Months Supply of Inventory was down 29.0 percent to 9.3 months.
We’re halfway through 2012, and what a year it’s been. Residen al real estate has finally taken some meaningful strides toward recovery, and they’ve all been self‐powered without divine (or governmental) interven on. Yes, there have been some head fakes in the past, but there's real reason to believe that market turnaround awaits us. Beyond home prices, key metrics to watch include Days on Market, Percent of List Price Received and Months Supply of Inventory. Locally, several indicators showed
We seem to be at a cri cal inflec on point in our search for more employment opportuni es. Job growth provides the dual benefit of s mula ng new household growth as well as relieving distressed homeowners. There's also the posi ve feedback loop of housing crea ng jobs and jobs crea ng housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid‐2013.
Eric Layne 2301 Randolph Road, Charlotte, NC 28207
704-780-3413
www.EricLayneRealEstate.com