Charlotte Real Estate

Finally some research on something we Agents have known a long time!   Home buyers will pay a premium for high quality schools. This past summer, Redfin the national web-based real estate company from Seattle compared home sales from neighborhood to neighborhood by square foot, even more particularly homes within the same neighborhood but different schools, and found the homes with the high quality schools sold on average for $50/sf more than their more “average” counterparts.

 

Using MLS data to calculate median sales prices (as we do here often) they were able to identify “Homes just a short distance apart with nearly identical attributes are selling for drastically different prices”

Trying to improve your home’s value? Support your local public school!

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Housing equity rose 30% or more than $2 Trillion dollars over the past year

Home purchases rebounded, prices rose, and mortgages continued to decline.   This rise is value is a relief to homeowners and the Realtor’s trying to help them move on to their next stage in life.  It contributes to rising consumer confidence, and rising optimism about future home prices.   The total value of all homes in the US is still 18% below its pre-recession peak- which is probably a good thing overall.

 

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Want to live in the Treetops?

If you’ve ever wondered what it would be like to have a comfortable mountain villa, on a hill side and living in the treetops, wonder no more! This well taken care of 3 bed room and 2 .5 bath home has a terrific end of cul de sac location, and rooms with a view.

863 Old Bell RD Charlotte NC-small-009-Living Room-1814x400-72dpi

This very low maintenance home will fit an active lifestyle, someone who wants to enjoy their home, and not spend tons of time maintaining the home. It is located in the heart of South Charlotte, a 5 minute walk to McAlpine Greenway, 2 minutes to Charlotte Christian off of Sardis Road.  Ten minutes to Southpark, 20 minutes to Uptown,  perfect location for professionals working in either location.

Click here to contact us or schedule a showing!

863 Old Bell RD Charlotte NC-small-004-Foyer-1842x400-72dpi

This intriguing  home has beautiful decks off three levels to take in the view, and bring nature right into your home. Hardwoods and pines grace the canopy, grass is limited, but verdant green is not!

View the Virtual Tour

863 Old Bell RD Charlotte NC-large-020-Master Bedroom-1280x855-72dpi863 Old Bell RD Charlotte NC-large-015-Upper Deck-1280x855-72dpi863 Old Bell RD Charlotte NC-large-020-Master Bedroom-1280x855-72dpi

 

 

 

The complete home details for 863 Old Bell are below:

[idx-listing mlsnumber="2141568" showall="true"]

More Pictures

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Charlotte Market Continues to Improve- Many Seller’s Markets Now Buyers Markets

In March, a slow rise in inventory continues.  It is uneven, for example there are slightly fewer homes available in the 0-100K and the 100-200K categories than in February. Higher price ranges saw their listing numbers increasing. So, a low inventory market did Not break out in march, which ins’t that surprising, since march felt like January around here.

The weather is turning, the leaves are coming back. The spring Selling season is on.   The charts below look at individual price ranges, and then below, by zip code. If you are interested in an area, just check the price range and zip to get an idea how your local market is performing

Remember, all real estate is local.

Charlotte Real Estate March 2013 Price Range

Price Range # of Sold # of Active Months of Inventory Market
$0-100K 205 477 2.3 Extreme Seller’s Market
$100-200K 597 1386 2.3 Extreme Seller’s Market
$200-300K 435 1379 3.2 Normal Seller’s Market
$300-400K 219 858 3.9 Normal Seller’s Market
$400-500K 92 459 5.0 Normal Seller’s Market
$500-600K 54 280 5.2 Normal Seller’s Market
$600-700K 34 205 6.0 Balanced Market
$700-800k 12 175 14.6 Extreme Buyer’s Market
$800-900K 22 117 5.3 Normal Seller’s Market
$900-1M 10 79 7.9 Balanced Market
Over $1M 28 317 11.3 Normal Buyer’s Market

As you can see, only some of the higher price points are Buyer’s markets- and a word of warning,   in town locations like Myers Park, Southpark Foxcroft have extremely limited inventory. Several homes were “Sold” in o or 1 Days on Market last month. In the suburbs, the averages lean towards   Buyers Market because many of the suburban areas have a lot of inventory in the $700K+ range.

I follow specific communities on my sister site, Charlotte Communities.  For example you could see up to date market reports here on Providence Country Club or Providence Plantation.

Market Key

12+ Months of Inventory Extreme Buyers Market High Depreciation
9-12 Months of Inventory Normal Buyers Market Moderate Depreciation
6-9 Months of Inventory Balance Market Flat/slight Depreciation
3-6 Months of Inventory Normal Seller’s Market Moderate Appreciation
0-3 Months of Inventory Extreme Seller’s Market High Appreciation

 

Charlotte Real Estate  March 2013 by Zip Code

Zip Code # of Solds Active Listings Months of Inventory Market Avg Sales Price Avg DOM
Charlotte (city) 567 1815 3.2 Normal Seller’s Market $199,878 95
28203 0 27 - - - -
28207 9 29 3.2 Normal Sellers Market $926,888 119
28209 16 59 3.7 Normal Seller’s Market $324,937 72
28210 32 113 3.5 Normal Seller’s Market $233,855 111
28211 19 88 4.6 Normal Seller’s Market $404,710 87
28226 24 142 5.9 Normal Seller’s Market $284,547 80
28270 18 121 6.7 Balance Market $278,986 114
28277 49 143 2.9 Extreme Sellers Market $354,910 69
Matthews
28105 29 98 3.4 Normal Sellers Market $201,649 101
Union County
28104 29 135 4.7 Normal Seller’s Market $266,474 100
28173 55 230 4.2 Normal Seller’s Market $392,647 94

 

So, Sellers if you wanted to sell your home over the last 4 years, this may be your year. Call Terry today for a free marketing analysis of your home. 

Buyers? Prices are moving up, inventory is low. Prices are still on 2004-1005 territory, so there are many good deals to be had.  But don’t be shy. If you have looked at a few homes, and see one that stands out, think long and hard, but pull the trigger. See what happens.

Now is when you especially need a good agent to pry in there and see whats going on locally- after all that’s what most important, how is your real estate! tm

 

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Kickin  home sales in Marvin, UP  53% over 2011 and house prices UP 15%!Marvin Creek All Brick Luxury Homes

I’ve watched the market carefully, and WOWis about all you can say about Marvin, this very popular almost pastural small town  just south of south Charlotte’s most popular Ballantyne. Work in Ballantyne? Live 5 -10 minutes away in Marvin , here are

The killer market numbers (beating the Charlotte average by FAR!)

In 2012 there were  40 homes sold at an average list price of $578,000, an average sales price of $563,000 or an average $129 per square foot, with days on market at 108 days.

2011  26 sold, average list price pf $543,750 and sales price of $528,000, or $112 per squyare foot, and 134 days on market…

So Marvin real estate (single family homes) saw  a 53% rise in homes sold, and with a 15% price increases in sold cost per square foot, and days on market fell 19%. By every measure, home values are improving

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The Charlotte Real Estate Market is on Fire!

May 23, 2012

Over the past month or so the Internet has been a-buzz with news of the beginnings of a national real estate recovery (see here, here and here). But as you know, the national market does a great job of covering up regional trends.  There isn’t one real estate market in the US, there are hundreds, if not thousands.

With that in mind, I wanted to pull together some Charlotte real estate numbers for 2012 so far.  Does what’s happening nationally hold true for the Charlotte real estate market?  Is Charlotte firmly in the midst of a real estate recovery?

Slow start to Charlotte market in 2012 ends in March

Closings in the first two months of 2012 left much to be desired in the Charlotte area.  In January, only 948 homes were closed (note: I’m using the broker lingo “closings” but this just means “sold”) in the Charlotte metro area.  In February we  added a grand total of 2 closed homes with 950 homes sold.  Recovery my ass, right?  But then we look at March & see a completely different picture.  Charlotte home closings in March rocketed up to 1,321, a 35% increase month over month.

Charlotte’s overall real estate market also roughly matches my experiences over Q1 of 2012.  We had a relatively slow start to the year made much sweeter by a blazing hot March (literally & figuratively).  Year over year March 2012 was also a strong month for the Charlotte real estate market.  In March 2011 there were a 1,207 total closings. This past March marks a 9.5% increase in closings from March 2011.

April 2012 continues the trend

Ok, so I’m making the case that the Charlotte real estate market reached its low point late last year or the beginning of 2012.  Is the growth trend continuing?  Absolutely.  In April the Charlotte metro area saw 1,402 closings, a 6% improvement month to month (on top of the 35% from March) & a 16% increase from April 2011! The numbers don’t lie, the Charlotte market is in firm recovery mode & business is booming.  There is still a large inventory of homes on the market, although foreclosures, short sales & bank owned properties are beginning to dry up (the good ones at least).  So two strong months of growth in March & April. How is May looking?

May closings on pace to exceed April closings

The subheading above kinda gives it away, but there have been 1,193 closings  in the Charlotte metro area this month, with a week to go (an increase of 15% from the same period last year) .  We’re on pace for 1,591 closings in May 2012.  For those of us counting, that’s a 13% month over month increase with 3 months of more than solid growth.


But what does all of this data mean for the Charlotte home buyer? It means that NOW is the time to buy. The Charlotte real estate market has bottomed out & is now in month 3 of a strong recovery.  With fixed interest rates of 3% or 4% on 30 year & 15 year notes there has never been a better time to buy a home in Charlotte.

Here’s to a strong summer & a strong recovery.  The Great Recession started with housing & it will end with housing & job creation.  I don’t know about you, but I’m very optomistic about the rest of 2012 & beyond. Have a good one & hope to see you in Charlotte soon!

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