Maryschurrjune2013charlottenewsletter

ON Move Market Ac vity and Trends for Charlo e & Surrounding Coun es

June 2013

Residential Closings - Entire MLS May 2012 - May 2013

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

+30.6% +25.8% +12.9% +7.0% -27.5% 138 5.0

Current Active Listings by Price Range

20.2%

16.8%

14.1%

19.2%

18.6%

5.0%

3.0 %2.0% 1.0%

under 100,000

100,001‐150,000

150,001 ‐ 200,000

200,001 ‐ 300,000

300,001 ‐ 450,000

450,001 ‐ 600,000

600,001 ‐ 800,000

800,001 ‐ 1,000,000

1,000,000 +

12 Month Count– Pending Sales by Price Range

22.9%

20.3%

16.4%

19.7%

12.7%

4.0%

2.0% 1.0% 1.0%

under 100,000

100,001‐150,000

150,001 ‐ 200,000

200,001 ‐ 300,000

300,001 ‐ 450,000

450,001 ‐ 600,000

600,001 ‐ 800,000

800,001 ‐ 1,000,000

1,000,000 +

2607 2657 2653

3268

2244

2575

2276 2339 21632043

2621

2915

3402

0

500

1000

1500

2000

2500

3000

3500

4000

May 12 Jun 12 Jul 12 Aug 12 Sept 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13

ASP = Average Sold Price

Data Courtesy Carolina MLS.

$217,555ASP

$227,913ASP

$207,380ASP

$206,051ASP

$220,385ASP $204,335

ASP $204,413ASP

$205,537ASP

$189,007ASP $194,900

ASP

Total Ac ve Lis ngs = 14,312 Total Pending Sales = 34,503

Data Courtesy Carolina MLS—Based on a rolling 12‐month average.

$216,445ASP

3,402 3,970 5,111 $232,564 14,312

The Monthly Market Snapshot

As of June 6, 2013 As of June 6, 2013

$217,166ASP

$232,564ASP

Percentages as reported by CRRA

Mary Schurr 704-591-5703

[email protected]

Mary Schurr 704-591-5703 [email protected] www.maryschurr.com

On the Move - He len Adams Realty Volume 6, Issue 6

Closed Units by Area May 2013 - By MLS Areas

Residential Single Family, Townhomes & Condos

MLS Area Units

Closed

1 Year

Change

Average

Sales Price

Charlo e ‐ Gastonia ‐ Rock Hill 2727 +31.5 $238,240

All of Mecklenburg County 1616 +31.5 $266,472

01 ‐ Mecklenburg County (N) 253 +19.3 $185,125

02 ‐ Mecklenburg County (E) 166 +22.1 $143,670

03 ‐ Mecklenburg County (SE) 100 +8.7 $143,631

04 ‐ Mecklenburg County (SSE) 188 +22.9 $366,651

05 ‐ Mecklenburg County (S) 337 +40.4 $432,248

06 ‐ Mecklenburg County (SSW) 153 +86.6 $221,779

07 ‐ Mecklenburg County (SW) 101 +32.9 $160,439

08 ‐ Mecklenburg County (W) 56 +9.8 $79,422

09 ‐ Mecklenburg County (NW) 118 +16.8 $176,865

10 ‐ Union County 336 +32.3 $250,378

11 ‐ Cabarrus County 202 +16.1 $172,022

12 ‐ Iredell County 230 +47.4 $275,150

13 ‐ Lake Norman 178 +35.9 $461,571

14 ‐ Lincoln County 76 +11.8 $169,617

15 ‐ Lake Wylie 63 +37.0 $354,981

16 ‐ Gaston County 225 +28.6 $124,721

17 ‐ York County, SC 279 +18.7 $217,171

99 ‐ Uptown Charlo e 34 +112.5 $290,738

TOTAL (for All CMLS Area) 3402 +30.6 $232,564

Pending Sales Quick Facts

Data Courtesy Carolina MLS & 10K Research and Marke ng.

+50.5% +40.2% +45.3% Price Range with

Strongest Sales: $300,001 and above

# Bedrooms

Strongest Sales:

4 BR or More

Property Type

Strongest Sales:

Condos

Pending Sales by Price Range

Pending Sales by Bedroom Count

Pending Sales by Property Type Percent of Original List Price Received

5-2012

5-2013

+ / -

92.2%

94.3%

+2.3%

3.83.68

3.553.6

3.47

3.43.35

3.35

3.41

3.533.57

3.45

3.54

3.1

3.2

3.3

3.4

3.5

3.6

3.7

3.8

3.9

May. 12 Jun. 12 Jul. 12 Aug. 12 Sep. 12 Oct. 12 Nov. 12 Dec. 12 Jan. 13 Feb. 13 Mar. 13 Apr. 13 May. 13


Pending Contracts

Average Residential Sales Price

New Listings

30 Year Fixed Mortgage Rates

39703933

38013089

29252150

24902738

257316651738

32743038

0 1000 2000 3000 4000 5000

May. 13

Mar. 13

Jan. 13

Nov. 12

Sep. 12

Jul. 12

May. 12

Data provided by MLS—Based on accepted contracts for the given month.

Source: Freddie Mac, NAR, March. 2013

51115115

47784207

38382342

30283448

32904311

39304146

4476

0 1000 2000 3000 4000 5000 6000

May. 13

Mar. 13

Jan. 13

Nov. 12

Sep. 12

Jul. 12

May. 12

$232,564 $217,166 $216,445

$194,900 $189,007

$205,537 $204,413 $204,336 $206,051 $207,380

$220,385 $227,913

$217,553

$‐ $50,000 $100,000 $150,000 $200,000 $250,000

May. 13

Mar. 13

Jan. 13

Nov. 12

Sep. 12

Jul. 12

May. 12

Mary Schurr 704-591-5703 [email protected] www.maryschurr.com


May 2013 Home Market Overview Bidding Wars Caused by Lack of Inventory and Subdued Lis ng Ac vity Reprinted from CRRA Monthly Indicators, April 2013

New Listings in the Charlotte region increased 12.9 percent to 5,111. Pending Sales were up 25.8 percent to 3,970. Inventory levels shrank 27.5 percent to 14,312 units.

Prices turned higher. The Median Sales Price increased 4.8 percent to $173,000. List to Close was down 7.1 percent to 138 days. Absorption rates improved as Months Supply of Inventory was down 46.5 percent to 5.0 months.

We're halfway through the year and it seems our collective attention has shifted from monitoring price and sales gains to eagerly anticipating more new listing activity on the part of sellers. This shift is the result of an imbalance between strong demand for homes and constrained supply. In some markets, purchase agreements are being written up directly after a showing. Your experience and local market conditions may differ, but the market as a whole has summertime heat.

Interest rate risk is back in the headlines after Fed chief Ben Bernanke's latest testimony on Capitol Hill. The Federal Reserve Bank is considering decreasing its $85 billion a month bond asset purchases, which have been holding interest rates at or near historic lows. This is mostly the result of an improving jobs market, which is a good thing for real estate.

Mary Schurr

704-591-5703

[email protected]

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

Maryschurrjune2013charlottenewsletter

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