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
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
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
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
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