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Charlotte Real Estate Market Report | April 2013

in Charlotte,Homes Sold- Market Reports

Rocketing Sales Continue- Builders WE NEED More Inventory

Duke Energy Headquarters Charlotte Charlotte home sales continued their climb, surpassing sales in April 2012 by 38%.* Home prices remain in the 2004 price per square foot range, even as average home price- and size has grown. .

Certain markets, in town locations, and other popular spots in the under $200,000 market, inventories are at 2 months, ridiculously low  levels.

21% of the homes sold were off the market in 15 days or less- the best deals don’t last.

Distressed sales, short sales and foreclosures represented 17% of the market here in April, continuing a downward trend.

 Can’t read the reports? Click the graphs to enlarge. The red line is months of inventory, measured on the right vertical.

Charlotte Real Estate Price Range Report | April 2013

price-point

price-table

 

Market softness remains in the highest price ranges, we had an  April  closing in Southpark area for 1.325M, or 93% of list. 19% of Southpark area homes sold at or above their List price in April. Wow. 

Charlotte Real Estate Zip Code Report | April 2013

Zipcode

zip-table

Geographically, as each ring from the city, measured in bands that are a mile or tw0 wide, we see inventory grow  as the market rebuilds from the center out, and from lower prices to high.

Months of Inventory | Buyer/Seller Market Key

Real-Estate-Market-Key

 *All statistics are courtesy of the Carolina MLS. We use a slightly adjusted coreGreater Charlotte Area  so our numbers may differ from the CMLS’s larger area.

Staying on top of the market is just one part of our job, but all real estate is local, if you are a buyer, know that we know prices! And we do the research. If you are a home Seller? Anyone can tell you where the market has been, but where is your neighborhood’s  market going?

We are also part of the MetLife relocation team.

Sellers, the McDonald Group + Wilkinson + ERA Relo = More Eyes on Your Home. Call us today to get started- 704-351-1519

 Considering a move to Charlotte?  Get your FREE Charlotte relocation guide full of useful information on area neighborhoods, schools, taxes & things to do:

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* All statistics for this report were derived from the Carolina MLS.

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Top Charlotte Condos Under $500,000

in Charlotte

Uptown Condos That Re Sell

So you work Uptown, your lease is coming up, and you are doing well.  What are your choices?

Typically, the first choices would be Uptown and  SouthEnd, maybe NODA and Dilworth, it depends whether you are looking for walking distance to work, light rail, or a short bike or car ride.    Most of the condos spiked in price in 2006-2008, and crashed in 2009-2010.  But they are coming back!

This week the Avenue, Trademark and 230 S Tryon- all three have excellent center city locations, good to great amenities, and different levels of finish. I love the amenities and entry at the Avenue, and I like the concrete ceilings here though some do not.  Trademark offers a more fully finished interior with 230 S Tryon, possibly being the best of class.  have a look for yourself

The Avenue

[idx-listings tract="Avenue Condominiums" propertytypes="714" orderby="DateAdded" orderdir="DESC" count="5" showlargerphotos="true"]

Trademark

[idx-listings tract="Trademark" propertytypes="714" orderby="DateAdded" orderdir="DESC" count="5" showlargerphotos="true"]

 

230 S Tryon

[idx-listings tract="230 South Tryon" propertytypes="714" orderby="DateAdded" orderdir="DESC" count="5" showlargerphotos="true"]

Have you seen some of these? Like to add add a comment? Please do!

We represent Buyers and Sellers, but never at  the same time! Call Terry today if you are interested in Listing your condo for sale, 704-390-6221.  Liek to Buyo ne of these? just schedule a showing, by phone or email. Thanks!

 

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Uptown Condos for Under $250,000

Rent or Buy- Charlotte’s Crazy Low Cost of Ownership

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The Ultimate Charlotte Home Search Tool

in Charlotte

Charlotte’s Happiest House Hunters Are Here!

You are about to be signed up on the Top Charlotte Home Search Engine, the ultimate home search tool, let me show you why.

Large HD Pictures, Flexible Search Options, Similar Properties… Check out the images below.  What’s Way cool is when you use the map view- you can find houses, then get background data on foreclosures, walk scores, popular areas and more. Quick signup here

Of course you can save listings, and set your own personal listing alerts, but check out the LARGE PICTURES (HD online and much larger onscreen)
You can Search by Neighborhood, by school, or use the Option feature  to search by style of home, or home features~basements, or waterfront, foreclosures- just about any keyword

This lets you customize your search to a fine level, if you prefer a map view, change the Display from Thumbs (thumbnails) to Map. Check out the Background Data to search for Popular locations, Foreclosure and short sale hotspots. Next to Background is an option window to let you search without leaving the map

Another favorite feature is  Similar Properties- you can quickly checkout other similar property and others in neighborhood.  It is easy and powerful!

Crazy Good isn’t it?

At any time you may follow the links and after a few details it will ask for a signup. Or sign up here and start using the most advanced home search tool on the web!  Mobile? Just add your phone number for a quick download for a powerful mobile app.

Call today if you need immediate help, 704-351-1519. Or call  Terry Direct at 704-390-6221

Or, if you have already been signed up by a home inquiry, check your e-mail for logins, or simply go to the site and reset your password.. http://mcdonald.wilkinsoncharlotte.com/

Updated daily, is is up to date like only a local website can be. If you try it,  you will agree, it is the best on the web!
Happy House Hunting from the McDonald Group
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Charlotte Real Estate Market Report – January 2013

in Charlotte,Market Report

Charlotte Single Family  Home Sales Surge

In January, our Charlotte area home sales grew 55% over  January 2012, with average sold prices per sf up 2.95% as well- even as the average home price fell slightly according to the Carolina MLS.  We also use a slightly different data set than the local NAR stats, we include the Charlotte area, not just city of Charlotte, see the map here. This explains the difference in their numbers and ours

If you follow this blog you would know my biggest complaint with statistical averages is that they hide important information- like what is going on in your neighborhood!  See if you can’t locate your price band and zip code, remember, all real estate is local.

January sales started the year with a bang, continuing 4th quarter trends, reducing the inventory even more.  It is now a Sellers market up to $500,000 price point.

Charlotte Real Estate January 2013 Price Range

Price Range # of Sold # of Active Months of Inventory Market
$0-100K 265 556 2.1 Extreme Sellers Market
$100-200K 511 1392 2.7 Extreme Sellers Market
$200-300K 321 1271 4.0 Normal Seller’s Market
$300-400K 158 765 4.8 Normal Seller’s Market
$400-500K 72 422 5.9 Normal Seller’s Market
$500-600K 31 226 7.3 Balance Market
$600-700K 13 178 13.7 Extreme Buyers Market
$700-800k 13 135 10.4 Normal Buyers Market
$800-900K 5 67 11.8 Normal Buyers Market
$900-1M 21 69 13.4 Extreme Buyers Market
Over $1M 11 250 22.7 Extreme Buyers Market

 

So 54% of the homes sold in December were under $200,000, and 77% under $300,000. This  reflects the relative affordability (Average Charlotte income of $52,000/yr)  in the market, and the power of low rates among home buyers, and the quantity of buyers who can afford homes in this price range.

January Buyers Acted Fast!

Here is the crazy part…. folks see houses on line with Days on Market 180, 220 and 300 and say

“How can it be a Sellers market?”

Because what they are not seeing, in January, 271 homes, 19% of the homes sold, were on the market under 15 days. 19% of the best homes at the best prices sold in 15 days or under,and 29% sold in 30 days or less.  That is a Sellers market at work!

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  January 2013 by Zip Code

Zip Code # of Solds Active Listings Months of Inventory Market Avg Sales Price Avg DOM
Charlotte (city) 655 1898 2.9 Extreme Sellers Market $199,878 95
28203 8 26 3.3 Normal Seller’s Market $469,812 60
28207 5 35 2.6 Extreme Sellers Market $755,000 157
28209 16 61 2.6 Extreme Sellers Market $360,528 84
28210 22 109 2.5 Extreme Sellers Market $243,338 78
28211 24 97 4.9 Normal Seller’s Market $518,004 106
28226 22 140 4.4 Normal Seller’s Market $295,551 154
28270 30 113 4.0 Normal Seller’s Market $289,622 103
28277 66 149 2.5 Extreme Sellers Market $341,599 99
28202 12 69 5.8 Normal Seller’s Market $245,708 137
Matthews
28105 24 109 4.4 Normal Sellers Market $295,348 94
Union County
28104 34 133 3.9 Normal Seller’s Market $266,027 113
28173 59 229 3.9 Normal Seller’s Market $288,691 99

 

In conclusion, a third straight big sales month tightened supply further, forcing all zipcodes and everything under $500,000 into the Sellers market category.  The higher price ranges and certain areas are weaker than the whole, but it is improving everywhere.

 

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South Charlotte Market Report November 2012

December 6, 2012

Our local Carolina MLS just announced November sales were up 35% over a year ago- no surprise to our regular readers.  But under reported is that most of south Charlotte has moved from a Buyer’s market to a Seller’s market, with a few exceptions.  From $700,000 and up, it has remained a strong Buyers market. Prices have risen since April. Check out the chart below, locate your home by price range  and zip code.


South Charlotte By Price Range, November 2012
Price Range # of Sold # of Active Months of Inventory Market
$0-100K 12 6 0.5 Extreme Sellers Market
$100K-200K 47 169 3.6 Normal Sellers Market
$200-300K 68 220 3.2 Normal Sellers Market
$300-400K 57 147 2.6 Extreme Sellers Market
$400-500K 25 120 4.8 Normal Sellers Market
$500-600K 18 52 2.9 Extreme Sellers Market
$600-700K 9 42 4.7 Normal Sellers Market
$700-800K 5 32 6.4 Balanced Market
$800K-900K 3 35 11.7 Extreme Buyers Market
$900-1M 3 23 7.7 Balanced Market
Over $1M 7 121 17.3 Extreme Buyers Market
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 Sellers Market High Appreciation

Looking at it by zipcode sheds additional light… 28203, the strongest Seller market is Dilworth. The Southpark area includes zip codes 28209,11,and 28226, all solid Seller markets.  The area that has done the worst is Matthews, somewhat perplexing as it is a popular area with quality schools. 9 of the 11 South Charlotte zip codes have 5 months or less inventory, explaining the uptick in prices in 2012.

Zip Code # of Solds Active Listings Months of Inventory Average Sales Price Average DOM
28203 10 27 2.7 $479,419 73
28207 7 51 7 $775,214 129
28209 17 62 3.6 $236,947 139
28210 35 128 3.7 $304,678 105
28211 29 135 4.7 $404,558 64
28226 36 175 4.9 $277,792 107
28270 33 157 4.8 $291,523 81
28277 64 198 3.1 $382,695 81
Matthews
28105 12 143 11.9 $248,711 97
Union County
28104 35 176 5.0 $293,010 75
28173 78 347 4.4 $377,706 85
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 Sellers Market High Appreciation
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