march 2011 mary schurr charlotte nc real estate newsletter
DESCRIPTION
Information on the Charlotte NC Region Real Estate Market based on MLS Data from February 2011TRANSCRIPT
![Page 1: March 2011 Mary Schurr Charlotte NC Real Estate Newsletter](https://reader034.vdocument.in/reader034/viewer/2022051317/568bf31a1a28ab8933990d4a/html5/thumbnails/1.jpg)
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
M A R C H 2 0 1 1
The average closing price for the Charlotte area in February 2011
was $180,036, down approximately 5.9% compared to 2010.
Average days on market was 157 for the month of February 2011.
There were 1329 total closings in Feb. 2011, down 4.9% compared
to 2010. The bulk of home sales continues to be in the lower price
ranges, with 79% of sales in the $250,000 and under category.
Residential Closings - Entire MLS Feb. 2010 - Feb. 2011
Feb. 2011 Closed Sales by Price Range
www.helenadamsrealty.com
the
Current Active Listings by Price Range
Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
Total Active Listings = 20,033
Data Courtesy Carolina MLS.
28%
13%
13%
9%
2%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold Feb. 2011 = 1329
Data Courtesy Carolina MLS.
13%
11%
5% 4%
.05%
$500K - $1 Million
Over $1 Million 27%
8% Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
$500K - $1 Million
Over $1 Million
40%
26%
Mary Schurr
704-591-5703
Mary Schurr 704-591-5703 [email protected] www.maryschurr.com
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Page 2 On the Move - Helen Adams Realty Volume 4, Issue 3
Total Closed Units February 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos
MLS Area Units Closed
Total Closed Volume
Average Closing Price
01 - Mecklenburg County (N) 97 $ 15,831,840 $ 163,215
02 - Mecklenburg County (E) 76 $ 8,118,916 $ 106,828
03 - Mecklenburg County (SE) 41 $ 4,769,850 $ 116,338
04 - Mecklenburg County (SSE) 59 $ 15,586,053 $ 264,170
05 - Mecklenburg County (S) 99 $ 32,842,060 $ 331,738
06 - Mecklenburg County (SSW) 54 $ 8,882,504 $ 164,491
07 - Mecklenburg County (SW) 41 $ 5,258,605 $ 128,259
08 - Mecklenburg County (W) 43 $ 2,047,404 $ 47,614
09 - Mecklenburg County (NW) 40 $ 6,068,386 $ 151,710
10 - Union County 119 $ 26,659,338 $ 224,028
11 - Cabarrus County 116 $ 20,087,738 $ 173,170
12 - Iredell County 67 $ 9,100,119 $ 135,823
13 - Lake Norman 55 $ 17,736,115 $ 322,475
14 - Lincoln County 35 $ 5,118,799 $ 146,251
15 - Lake Wylie 23 $ 7,458,000 $ 324,261
16 - Gaston County 89 $ 8,882,767 $ 99,806
17 - York County 86 $ 16,449,500 $ 191,273
20 - Alexander County 6 $ 854,000 $ 142,333
21 - Rowan County 54 $ 5,862,465 $ 108,564
22 - Cleveland County 22 $ 2,177,300 $ 98,968
23 - Stanly County 16 $ 1,591,437 $ 99,465
24 - Lancaster County 32 $ 6,931,706 $ 216,616
25 - Anson County 1 $ 13,500 $ 13,500
29 - Catawba County 21 $ 2,922,667 $ 139,175
35 - Chester County 4 $125,900 $31,475
42 - Mtn. Island Lake 11 $ 3,332,517 $302,956
99 - Uptown Charlotte 6 $ 1,317,500 $219,583
TOTAL (for All MLS) 1329 $274,539,459 $180,036
181 sold 31-60 days
213 sold 61-90 days
Days on Market
The following statistics apply to Feb. 1 to Feb. 28,
2011, and reflect days on market from the original
listing date to the recorded closing date.
54.2 percent of homes closed in 121+ days.
13.1 percent of homes closed in 91-120 days.
16 percent of homes closed in 61-90 days.
14 percent of homes closed in 31-60 days.
3 percent of homes closed in 0-30 days.
Listing Date to Closing Date
121+ days
91-120 days
61-90 days
31-60 days
0-30 days
Total # Units Closed February = 1329
Average List to Close February = 157 days
Data Courtesy Carolina MLS.
721 sold 121+ days
175 sold 91-120 days
39 sold 0-30 days
Mary Schurr 704-591-5703 [email protected] www.maryschurr.com
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Page 3 On the Move - Helen Adams Realty Volume 4, I ssue 3
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Feb. 2011
Data Courtesy Carolina MLS.
121+ days
91-120 days
61-90 days
31-60 days
0-30 days
Mary Schurr 704-591-5703 [email protected] www.maryschurr.com
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Page 4 On the Move - Helen Adams Realty Volume 4, I ssue 3
View Real Estate Market Data on our website,
www.helenadamsrealty.com/market_data
2011 Tax Revaluation in Mecklenburg County
Revaluation is the process of reappraising
all properties within the county for tax as-
sessment purposes. It is required at least
once every 8 years by NC statute. Over
time, the real estate market changes and
market prices deviate from the assessed
values estimated during the previous reap-
praisal. The last reappraisal in Mecklenburg
County was in 2003, so a revaluation will
take place in 2011.
The process has two objectives: value prop-
erties at current market prices, and equita-
bly distribute the cost of local government
among the property owners.
INTERNET TOOLS
1. Reval Qualified Sales Map: Developed
for the revaluation, this tool displays all
qualified sales over the last two years, in
proximity to an entered address.
http://maps.co.mecklenburg.nc.us/reval/
Homes in Mecklenburg County Will be Reappraised in 2011 for Tax Assessment
2. Real Estate Lookup - Property record
information is displayed from the County's
database of real property listings, based
on common search criteria.
http://meckcama.co.mecklenburg.nc.us/
relookup/
3. POLARIS - Parcel information
is displayed graphically through the Prop-
erty Ownership and Land Records Infor-
mation System, using the County's Geo-
graphic Information System (GIS) inte-
grated with aerial imagery.
http://polaris.mecklenburgcountync.gov
4. Tax Bill Lookup - Information from the
County's North Carolina Property Tax Sys-
tem (NCPTS) is displayed through its Public
Web Access (PWA).
http://taxbill.co.mecklenburg.nc.us/
publicwebaccess/
Reval - Qualified Sales Map
Market Area Median Sales Price
Mary Schurr
704-591-5703
www.maryschurr.com
RANDOLPH ROAD
2301 Randolph Road, Charlotte, NC 28207
BALLANTYNE
15235-J John J. Delaney Dr., Charlotte, NC
28277
LAKE NORMAN
8600 Sam Furr Rd. Suite 150, Huntersville,
NC 28078