may on the move 2012
DESCRIPTION
Helen Adams Monthly NewsletterTRANSCRIPT
Page 4 On the Move - Helen Adams Realty Volume 5, I ssue 5
April 2012 Home Sales Overview Sellers Slowly Regain Pricing Power Data and article excerpts from CMLS Monthly Indicators
Moral of the story: Price is but a single picture in the gallery.
New Listings in the Charlotte region increased 1.5 percent to 4,526. Pending Sales were up 7.8 percent to 2,317. Inventory levels shrank 18.7 percent to 19,633 units.
Prices enjoyed a boost. The Median Sales Price increased 4.6 percent to $159,995. List to Close was down 5.8 percent to 145 days. The supply-demand balance stabilized as Months Supply of Inventory was down 29.3
Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years.
percent to 9.7 months.
When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.
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
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
M A Y 2 0 1 2
There were 2170 total closings in April 2012, up 15.3% compared to
April 2011. 65% of all home sales in April 2012 were in the
$200,000 and under category. The average closing price for the
Charlotte metro area in April 2012 was $214,779, up 5.6% from April
2011. In April 2012, new listings increased by 1.5%, pending sales
increased by 7.8%, total active listings decreased by 18.7%.
Residential Closings - Entire MLS April 2011 - April 2012
the
Change in
Closed Sales
Change in
New Listings
Average
Sales Price
Total Active
Listings
Months Supply of
Homes for Sale
Average Days
List to Close
Pending
Sales
ASP = Average Sold Price
Data Courtesy Carolina MLS.
+15.3% +7.8% +1.5% +5.6% -18.7% 145 9.7
Current Active Listings by Price Range
Total Active Listings = 19,633
April 2012 Sales by Price Range
Total Pending Sales = 24,262
Data Courtesy Carolina MLS—Based on a rolling 12-month average.
www.helenadamsrealty.com
Page 2 On the Move - Helen Adams Realty Volume 5, Issue 5
Closed Units by Area April 2012 - By MLS Areas
Residential Single Family, Townhomes & Condos
MLS Area Units
Closed
1 Year
Change
Average
Sales Price
Charlotte - Gastonia - Rock Hill 1702 +15.2 $ 213,189
All of Mecklenburg County 987 +11.9 $ 228, 231
01 - Mecklenburg County (N) 162 +9.5 $ 166,506
02 - Mecklenburg County (E) 115 +8.5 $ 119,161
03 - Mecklenburg County (SE) 65 +1.6 $ 120,126
04 - Mecklenburg County (SSE) 95 +8.0 $ 300,736
05 - Mecklenburg County (S) 173 +6.8 $ 409,930
06 - Mecklenburg County (SSW) 92 +48.4 $ 204,948
07 - Mecklenburg County (SW) 76 +7.0 $ 149,357
08 - Mecklenburg County (W) 56 +51.4 $ 72,412
09 - Mecklenburg County (NW) 83 +15.3 $ 167,662
10 - Union County 189 +8.6 $ 250,340
11 - Cabarrus County 175 +17.4 $ 182,745
12 - Iredell County 163 +20.7 $ 226,155
13 - Lake Norman 109 +11.2 $ 504,453
14 - Lincoln County 71 +51.1 $ 289,884
15 - Lake Wylie 30 -11.8 $ 388,530
16 - Gaston County 166 +39.5 $ 127,525
17 - York County, SC 173 +20.1 $ 209,675
42 - Mtn. Island Lake 17 +35.3 $ 179,607
99 - Uptown Charlotte 18 +12.5 $ 361,328
TOTAL (for All CMLS Area) 2170 +15.3 $214,779
April Home Sales Snapshot
Data Courtesy Carolina MLS & 10K Research and Marketing.
+20.6% +16.1% +15.8% Price Range with
Strongest Sales:
$200-300,000
# Bedrooms
Strongest Sales:
4+ bedrooms
Property Type
Strongest Sales:
Condos
Page 3 On the Move - Helen Adams Realty Volume 5, I ssue 5
www.helenadamsrealty.com
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.
Page 2 On the Move - Helen Adams Realty Volume 5, Issue 5
Closed Units by Area April 2012 - By MLS Areas
Residential Single Family, Townhomes & Condos
MLS Area Units
Closed
1 Year
Change
Average
Sales Price
Charlotte - Gastonia - Rock Hill 1702 +15.2 $ 213,189
All of Mecklenburg County 987 +11.9 $ 228, 231
01 - Mecklenburg County (N) 162 +9.5 $ 166,506
02 - Mecklenburg County (E) 115 +8.5 $ 119,161
03 - Mecklenburg County (SE) 65 +1.6 $ 120,126
04 - Mecklenburg County (SSE) 95 +8.0 $ 300,736
05 - Mecklenburg County (S) 173 +6.8 $ 409,930
06 - Mecklenburg County (SSW) 92 +48.4 $ 204,948
07 - Mecklenburg County (SW) 76 +7.0 $ 149,357
08 - Mecklenburg County (W) 56 +51.4 $ 72,412
09 - Mecklenburg County (NW) 83 +15.3 $ 167,662
10 - Union County 189 +8.6 $ 250,340
11 - Cabarrus County 175 +17.4 $ 182,745
12 - Iredell County 163 +20.7 $ 226,155
13 - Lake Norman 109 +11.2 $ 504,453
14 - Lincoln County 71 +51.1 $ 289,884
15 - Lake Wylie 30 -11.8 $ 388,530
16 - Gaston County 166 +39.5 $ 127,525
17 - York County, SC 173 +20.1 $ 209,675
42 - Mtn. Island Lake 17 +35.3 $ 179,607
99 - Uptown Charlotte 18 +12.5 $ 361,328
TOTAL (for All CMLS Area) 2170 +15.3 $214,779
April Home Sales Snapshot
Data Courtesy Carolina MLS & 10K Research and Marketing.
+20.6% +16.1% +15.8% Price Range with
Strongest Sales:
$200-300,000
# Bedrooms
Strongest Sales:
4+ bedrooms
Property Type
Strongest Sales:
Condos
Page 3 On the Move - Helen Adams Realty Volume 5, I ssue 5
www.helenadamsrealty.com
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.
Page 4 On the Move - Helen Adams Realty Volume 5, I ssue 5
April 2012 Home Sales Overview Sellers Slowly Regain Pricing Power Data and article excerpts from CMLS Monthly Indicators
Moral of the story: Price is but a single picture in the gallery.
New Listings in the Charlotte region increased 1.5 percent to 4,526. Pending Sales were up 7.8 percent to 2,317. Inventory levels shrank 18.7 percent to 19,633 units.
Prices enjoyed a boost. The Median Sales Price increased 4.6 percent to $159,995. List to Close was down 5.8 percent to 145 days. The supply-demand balance stabilized as Months Supply of Inventory was down 29.3
Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years.
percent to 9.7 months.
When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.
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
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
M A Y 2 0 1 2
There were 2170 total closings in April 2012, up 15.3% compared to
April 2011. 65% of all home sales in April 2012 were in the
$200,000 and under category. The average closing price for the
Charlotte metro area in April 2012 was $214,779, up 5.6% from April
2011. In April 2012, new listings increased by 1.5%, pending sales
increased by 7.8%, total active listings decreased by 18.7%.
Residential Closings - Entire MLS April 2011 - April 2012
the
Change in
Closed Sales
Change in
New Listings
Average
Sales Price
Total Active
Listings
Months Supply of
Homes for Sale
Average Days
List to Close
Pending
Sales
ASP = Average Sold Price
Data Courtesy Carolina MLS.
+15.3% +7.8% +1.5% +5.6% -18.7% 145 9.7
Current Active Listings by Price Range
Total Active Listings = 19,633
April 2012 Sales by Price Range
Total Pending Sales = 24,262
Data Courtesy Carolina MLS—Based on a rolling 12-month average.
www.helenadamsrealty.com