July 2012 Charlotte Housing Market Report

Charlotte Median Sales Price – July 2012

July 2012 Charlotte Housing Market Report

Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for July 2012 (2,653) increased 22.2 percent compared to July 2011, when closings totaled 2,171. Both the average and median sales price showed positive increases for a sixth consecutive month. The average sales price in July 2012 ($220,385) was up by 3.4 percent compared to the same period last year ($213,205), and the median sales price ($166,100), the best measure of trends over a period of time, showed prices up by 1.6 percent compared to July 2011 when the median sales price was $163,500.

The average list price in July 2012 ($237,904) decreased 1.4 percent when compared to the average list price for the same period last year ($241,380), bringing the percent of original list price received measure to 92.5 percent as compared to 89.7 percent last July. July 2012 pending contracts totaled 1,738, a decrease of 15.3 percent over last July’s pending contract figure (2,053) for the CMLS region.

New residential listings in July 2012 totaled 3,930, up 6.8 percent compared to the same period last year when new listings totaled 3,681. Overall inventory continued its downward trend, down 16.9 percent compared to July 2011, leaving the CMLS region with an 8.8 months’ supply of homes for sale as compared to 12.5 months’ supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 144, which is a decrease of 13 days when compared to last July when the list to close count totaled 157 days.

The share of new listings that were distressed in July was 12.0 percent, compared to 15.8 percent the previous year. 13.8 percent of all closed sales in July were distressed, compared to 16.5 percent in July 2011.

The current active foreclosures on the market are at their lowest level since January 2008. The number of active short sales on the market are at their lowest since April 2009. The long-term trend is heading in the right direction.

June 2012 Charlotte Housing Market Report

Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for June 2012 (2,657) increased 14.0 percent compared to June 2011, when closings totaled 2,330. Both the average and median sales price showed positive increases for a fifth consecutive month. The average sales price in June 2012 ($227,924) was up by 5.3 percent compared to the same period last year ($216,389), and the median sales price ($171,500), the best measure of trends over a period of time, showed prices up by 9.4 percent compared to June 2011 when the median sales price was $156,775.

The average list price in June 2012 ($244,881) decreased 1.7 percent when compared to the average list price for the same period last year ($249,088), bringing the percent of original list price received measure to 92.7 percent as compared to 89.7 percent last June. June 2012 pending contracts totaled 2,506, an increase of 8.9 percent over last June’s pending contract figure (2,301) for the CMLS region.

New residential listings in June 2012 totaled 4,109, down 0.8 percent compared to the same period last year when new listings totaled 4,143. Overall inventory continued its downward trend, down 17.4 percent compared to June 2011, leaving the CMLS region with a 9.3 months’ supply of homes for sale as compared to 13.1 months’ supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 139, which is a decrease of 13 days when compared to last June when the list to close count totaled 152 days.

The share of new listings that were distressed in June was 11.4 percent, compared to 14.7 percent the previous year. 14.2 percent of all closed sales in June were distressed, compared to 30.6 percent in June 2011.

May 2012 Charlotte Housing Market Report

Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for May 2012 (2,607) increased 19.0 percent compared to May 2011, when closings totaled 2,191.  Both the average and median sales price showed positive increases for a fourth consecutive month. The average sales price in May 2012 ($217,561) was up by 4.0percent compared to the same period last year ($209,288), and the median salesprice ($165,000), the best measure of trends over a period of time, showed prices up by 8.6 percent compared to May 2011 when the median sales price was $152,000.

The average list price in May 2012 ($246,495) decreased 0.5 percent when compared to the average list price for the same period last year ($247,660), bringing the percent of original list price received measure to 92.2 percent as compared to 89.6 percent last May.  May 2012 pending contracts totaled 2,740, an increase of 26.3 percent over last May’s pending contract figure (2,169) for the CMLS region.

New residential listings in May 2012 totaled 4,434, up 5.4 percent compared to the same period last year when new listings totaled 4,205. Overall inventory continued its downward trend, down 18.7 percent compared to May 2011, leaving the CMLS region with a 9.4 months’ supply of homes for sale as compared to 13.5 months’ supply during the same time last year.  The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 140, which is a decrease of ten days when compared to last May when the list to close count totaled 150 days.

The share of new listings that were distressed in May was 13.6percent, compared to 16.0 percent the previous year. 14.3 percent of all closedsales in May were distressed, compared to 32.0 percent in May 2011.

April 2012 Charlotte Housing Market Report

Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for April 2012 (2,170) increased 15.3 percent compared to April 2011, when closings totaled 1,882. Both the average and median sales price showed positive increases for a third consecutive month. The average sales price in April 2012 ($214,779) was up by 5.6 percent compared to the same period last year ($203,442), and the median sales price ($159,995), the best measure of trends over a period of time, showed prices up by 4.6 percent compared to April 2011 when the median sales price was $153,000.

The average list price in April 2012 ($272,358) increased 9.2 percent when compared to the average list price for the same period last year ($249,500), bringing the percent of original list price received measure to 92 percent as compared to 88.9 percent last April. April 2012 pending contracts totaled 2,317, an increase of 7.8 percent over last April’s pending contracts (2,150) for the CMLS region.

New residential listings in April 2012 totaled 4,526, up slightly 1.5 percent compared to the same period last year when new listings totaled 4,460. Overall inventory continued its downward trend, down 18.7 percent compared to April 2011, leaving the CMLS region with a 9.7-month supply of homes for sale as compared to 13.7-month supply during the same time last year. The average number of days a property was on the market from the time it was listed until it closed (list to close) totaled 145, which is a decrease of nine days when compared to last April when the list to close count totaled 154 days.

The share of new listings that were distressed in April was 11.3 percent, compared to 18.7 percent the previous year. 15.6 percent of all closed sales in April were distressed, compared to 31.5 percent in April 2011.