Charlotte Real Estate For Sale: 5361 Five Knolls Drive Charlotte, NC 28226
February 2011 Charlotte Real Estate data
4
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties F E B R U A R Y 2 0 1 1 The average closing price for the Charlotte area in January 2011 was $188,147, down approximately 6.2% compared to 2010. Average days on market was 159.7 for the month of January 2011. There were 1414 total closings in Jan. 2011, up 3.6% compared to 2010. The bulk of home sales continues to be in the lower price ranges, with 78% of sales in the $250,000 and under category. Residential Closings - Entire MLS Jan. 2010 - Jan. 2011 Jan. 2011 Closed Sales by Price Range www.helenadamsrealty.com 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 = 20,858 Data Courtesy Carolina MLS. 28% 14% 12% 9% 2% ASP = Average Sold Price Data Courtesy Carolina MLS. Total Sold Jan. 2011 = 1414 Data Courtesy Carolina MLS. 11% 10% 6% 4% .06% $500K - $1 Million Over $1 Million 27% 7% Under $120,000 $120 - $150,000 $150 - $250,000 $250 - $350,000 $350 - $500,000 $500K - $1 Million Over $1 Million 42% 25% JOYCE POOLE
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Transcript of February 2011 Charlotte Real Estate data
Page 4 On the Move - Helen Adams Real ty Volume 4, Issue 2
View Real Estate Market Data on our website,
www.helenadamsrealty.com/market_data
What is the FHA 203(k) Loan? Combine Home Renovations / Repairs & Home Loan Into One Low Interest Mortgage
The FHA 203(k) loan is the Federal Hous‐
ing Authority’s program for the rehabilita‐
tion and repair of residential properties.
Basically, it's a loan that allows you to roll
a home improvement loan and a home
purchase loan into one mortgage.
When using the FHA 203(k) rehab loan,
home buyers can target homes intended
to be used as a primary residence that
need work. Sources for these properties
include bargain real estate via bank‐
owned properties, qualified homes in the
HUD inventory, and homes sold as a short
sale or foreclosure.
The 203K mortgage is not just for the pur‐
chase of a home. Qualified homeowners
can successfully use the FHA 203(k) pro‐
gram to make many improvements to a
primary residence. Again, it is basically a
construction loan for the improvement of
existing properties. The qualifying stan‐
dards are no different than traditional FHA
purchase loan guidelines.
Eligible Improvements
You can utilize the FHA 203K loan program to accomplish rehabilitation and/or im‐provement of an existing HUD approved property:
∙ To purchase a qualifying property and the land on which it is located and reha‐bilitate it.
∙ To purchase a qualifying property on another site, move it onto a new founda‐tion on the mortgaged property, and reha‐bilitate it.
∙ To buy a bank‐owned property that re‐quires significant improvements in order to bring the home to FHA loan standards.
∙ To refinance an existing home mortgage and make one or multiple home improve‐ments to the home owner's qualifying property.
Want to learn more? Contact a 203(k) Certified Helen Adams Realtor®: 1‐800‐851‐5253, or attend one of 3 Free semi‐nars offered at our offices in March, 2011.
PLEASE JOIN US, for 3 FREE SEMINARS in MARCH to LEARN ABOUT 203K:
A short presentation to understand how easy it is to roll your home improvements and home loan into ONE MORTGAGE!
1. Saturday, March 12, 2011 : 10:30AM to 11:30AM at the Lake Norman office of Helen Adams Realty, 8600 Sam Furr Road, Suite 115, Huntersville, NC 28078.
2. Thursday, March 24, 2011 : 6:30PM to 7:30AM at the Myers Park office of Helen Adams Realty, 2305 Randolph Road, Char‐lotte, NC 28207.
3. Saturday, March 26, 2011 : 10:30AM to 11:30AM at the Ballantyne office of Helen Adams Realty, 15235‐J, John J. Delaney Drive, Charlotte, NC 28277.
JOYCE POOLE Cell: 704.617-1074 Email: [email protected] Web: JoycePoole.com 8600 Sam Furr Road, Suite 150 Huntersville, NC 28078
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
F E B R U A R Y 2 0 1 1
The average closing price for the Charlotte area in January 2011 was $188,147, down approximately 6.2% compared to 2010. Average days on market was 159.7 for the month of January 2011.
There were 1414 total closings in Jan. 2011, up 3.6% compared to 2010. The bulk of home sales continues to be in the lower price ranges, with 78% of sales in the $250,000 and under category.
Residential Closings - Entire MLS Jan. 2010 - Jan. 2011
Jan. 2011 Closed Sales by Price Range
www.helenadamsrealty.com
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 = 20,858
Data Courtesy Carolina MLS.
28%
14%
12%
9%
2%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold Jan. 2011 = 1414
Data Courtesy Carolina MLS.
11%
10%
6% 4%
.06%
$500K - $1 Million
Over $1 Million 27%
7% Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
$500K - $1 Million
Over $1 Million
42%
25%
JOYCE POOLE
Page 2 On the Move - Helen Adams Real ty Volume 4, Issue 2
Total Closed Units January 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos
www.helenadamsrealty.com
MLS Area Units Closed
Total Closed Volume
Average Closing Price
01 ‐ Mecklenburg County (N) 120 $ 20,733,919 $ 172,783
02 ‐ Mecklenburg County (E) 97 $ 11,077,027 $ 114,196
03 ‐ Mecklenburg County (SE) 57 $ 7,133,301 $ 125,146
04 ‐ Mecklenburg County (SSE) 59 $ 16,321,575 $ 276,637
05 ‐ Mecklenburg County (S) 113 $ 38,613,701 $ 341,714
06 ‐ Mecklenburg County (SSW) 90 $ 19,523,314 $ 216,926
07 ‐ Mecklenburg County (SW) 48 $ 6,992,047 $ 145,668
08 ‐ Mecklenburg County (W) 35 $ 2,128,048 $ 60,801
09 ‐ Mecklenburg County (NW) 56 $ 7,780,464 $ 138,937
10 ‐ Union County 128 $ 27,943,128 $ 218,306
11 ‐ Cabarrus County 111 $ 21,271,558 $ 191,636
12 ‐ Iredell County 49 $ 6,576,626 $ 134,217
13 ‐ Lake Norman 60 $ 24,380,334 $ 406,339
14 ‐ Lincoln County 30 $ 2,776,140 $ 92,538
15 ‐ Lake Wylie 19 $ 5,058,500 $ 266,237
16 ‐ Gaston County 105 $ 11,999,990 $ 114,286
17 ‐ York County 73 $ 12,964,140 $ 177,591
20 ‐ Alexander County 2 $ 152,000 $ 76,000
21 ‐ Rowan County 43 $ 4,379,648 $ 101,852
22 ‐ Cleveland County 15 $ 2,434,300 $ 162,287
23 ‐ Stanly County 20 $ 2,901,039 $ 145,052
24 ‐ Lancaster County 22 $ 4,117,641 $ 187,166
25 ‐ Anson County 8 $ 579,400 $ 72,425
29 ‐ Catawba County 19 $ 2,308,361 $ 121,493
35 ‐ Chester County 0 0 0
42 ‐ Mtn. Island Lake 7 $ 936,605 $ 133,801
99 ‐ Uptown Charlotte 13 $ 3,143,900 $ 241,838
TOTAL (for All MLS) 1414 $266,040,231 $188,147
232 sold 61-90 days
255 sold 91-120 days
Days on Market
The following statistics apply to November 6 to Dec. 5, 2010, and reflect days on market from the original listing date to the recorded closing date.
• 51.5 percent of homes closed in 121+ days.
• 17.2 percent of homes closed in 91‐120 days.
• 15.6 percent of homes closed in 61‐90 days.
• 13 percent of homes closed in 31‐60 days.
• 2 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 January = 1414
Average List to Close November = ?? days
Data Courtesy Carolina MLS.
766 sold 121+ days
198 sold 31-60 days
36 sold 0-30 days
Page 3 On the Move - Helen Adams Real ty Volume 4, Issue 2
www.helenadamsrealty.com
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Jan. 2011
Data Courtesy Carolina MLS.
Page 2 On the Move - Helen Adams Real ty Volume 4, Issue 2
Total Closed Units January 2011 - All MLS Areas
Residential Single Family, Townhomes & Condos
www.helenadamsrealty.com
MLS Area Units Closed
Total Closed Volume
Average Closing Price
01 ‐ Mecklenburg County (N) 120 $ 20,733,919 $ 172,783
02 ‐ Mecklenburg County (E) 97 $ 11,077,027 $ 114,196
03 ‐ Mecklenburg County (SE) 57 $ 7,133,301 $ 125,146
04 ‐ Mecklenburg County (SSE) 59 $ 16,321,575 $ 276,637
05 ‐ Mecklenburg County (S) 113 $ 38,613,701 $ 341,714
06 ‐ Mecklenburg County (SSW) 90 $ 19,523,314 $ 216,926
07 ‐ Mecklenburg County (SW) 48 $ 6,992,047 $ 145,668
08 ‐ Mecklenburg County (W) 35 $ 2,128,048 $ 60,801
09 ‐ Mecklenburg County (NW) 56 $ 7,780,464 $ 138,937
10 ‐ Union County 128 $ 27,943,128 $ 218,306
11 ‐ Cabarrus County 111 $ 21,271,558 $ 191,636
12 ‐ Iredell County 49 $ 6,576,626 $ 134,217
13 ‐ Lake Norman 60 $ 24,380,334 $ 406,339
14 ‐ Lincoln County 30 $ 2,776,140 $ 92,538
15 ‐ Lake Wylie 19 $ 5,058,500 $ 266,237
16 ‐ Gaston County 105 $ 11,999,990 $ 114,286
17 ‐ York County 73 $ 12,964,140 $ 177,591
20 ‐ Alexander County 2 $ 152,000 $ 76,000
21 ‐ Rowan County 43 $ 4,379,648 $ 101,852
22 ‐ Cleveland County 15 $ 2,434,300 $ 162,287
23 ‐ Stanly County 20 $ 2,901,039 $ 145,052
24 ‐ Lancaster County 22 $ 4,117,641 $ 187,166
25 ‐ Anson County 8 $ 579,400 $ 72,425
29 ‐ Catawba County 19 $ 2,308,361 $ 121,493
35 ‐ Chester County 0 0 0
42 ‐ Mtn. Island Lake 7 $ 936,605 $ 133,801
99 ‐ Uptown Charlotte 13 $ 3,143,900 $ 241,838
TOTAL (for All MLS) 1414 $266,040,231 $188,147
232 sold 61-90 days
255 sold 91-120 days
Days on Market
The following statistics apply to November 6 to Dec. 5, 2010, and reflect days on market from the original listing date to the recorded closing date.
• 51.5 percent of homes closed in 121+ days.
• 17.2 percent of homes closed in 91‐120 days.
• 15.6 percent of homes closed in 61‐90 days.
• 13 percent of homes closed in 31‐60 days.
• 2 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 January = 1414
Average List to Close November = ?? days
Data Courtesy Carolina MLS.
766 sold 121+ days
198 sold 31-60 days
36 sold 0-30 days
Page 3 On the Move - Helen Adams Real ty Volume 4, Issue 2
www.helenadamsrealty.com
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
Source: Freddie Mac, NAR, Jan. 2011
Data Courtesy Carolina MLS.
Page 4 On the Move - Helen Adams Real ty Volume 4, Issue 2
View Real Estate Market Data on our website,
www.helenadamsrealty.com/market_data
What is the FHA 203(k) Loan? Combine Home Renovations / Repairs & Home Loan Into One Low Interest Mortgage
The FHA 203(k) loan is the Federal Hous‐
ing Authority’s program for the rehabilita‐
tion and repair of residential properties.
Basically, it's a loan that allows you to roll
a home improvement loan and a home
purchase loan into one mortgage.
When using the FHA 203(k) rehab loan,
home buyers can target homes intended
to be used as a primary residence that
need work. Sources for these properties
include bargain real estate via bank‐
owned properties, qualified homes in the
HUD inventory, and homes sold as a short
sale or foreclosure.
The 203K mortgage is not just for the pur‐
chase of a home. Qualified homeowners
can successfully use the FHA 203(k) pro‐
gram to make many improvements to a
primary residence. Again, it is basically a
construction loan for the improvement of
existing properties. The qualifying stan‐
dards are no different than traditional FHA
purchase loan guidelines.
Eligible Improvements
You can utilize the FHA 203K loan program to accomplish rehabilitation and/or im‐provement of an existing HUD approved property:
∙ To purchase a qualifying property and the land on which it is located and reha‐bilitate it.
∙ To purchase a qualifying property on another site, move it onto a new founda‐tion on the mortgaged property, and reha‐bilitate it.
∙ To buy a bank‐owned property that re‐quires significant improvements in order to bring the home to FHA loan standards.
∙ To refinance an existing home mortgage and make one or multiple home improve‐ments to the home owner's qualifying property.
Want to learn more? Contact a 203(k) Certified Helen Adams Realtor®: 1‐800‐851‐5253, or attend one of 3 Free semi‐nars offered at our offices in March, 2011.
PLEASE JOIN US, for 3 FREE SEMINARS in MARCH to LEARN ABOUT 203K:
A short presentation to understand how easy it is to roll your home improvements and home loan into ONE MORTGAGE!
1. Saturday, March 12, 2011 : 10:30AM to 11:30AM at the Lake Norman office of Helen Adams Realty, 8600 Sam Furr Road, Suite 115, Huntersville, NC 28078.
2. Thursday, March 24, 2011 : 6:30PM to 7:30AM at the Myers Park office of Helen Adams Realty, 2305 Randolph Road, Char‐lotte, NC 28207.
3. Saturday, March 26, 2011 : 10:30AM to 11:30AM at the Ballantyne office of Helen Adams Realty, 15235‐J, John J. Delaney Drive, Charlotte, NC 28277.
JOYCE POOLE Cell: 704.617-1074 Email: [email protected] Web: JoycePoole.com 8600 Sam Furr Road, Suite 150 Huntersville, NC 28078
ON MOve Market Activity and Trends for Charlotte & Surrounding Counties
F E B R U A R Y 2 0 1 1
The average closing price for the Charlotte area in January 2011 was $188,147, down approximately 6.2% compared to 2010. Average days on market was 159.7 for the month of January 2011.
There were 1414 total closings in Jan. 2011, up 3.6% compared to 2010. The bulk of home sales continues to be in the lower price ranges, with 78% of sales in the $250,000 and under category.
Residential Closings - Entire MLS Jan. 2010 - Jan. 2011
Jan. 2011 Closed Sales by Price Range
www.helenadamsrealty.com
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 = 20,858
Data Courtesy Carolina MLS.
28%
14%
12%
9%
2%
ASP = Average Sold Price
Data Courtesy Carolina MLS.
Total Sold Jan. 2011 = 1414
Data Courtesy Carolina MLS.
11%
10%
6% 4%
.06%
$500K - $1 Million
Over $1 Million 27%
7% Under $120,000
$120 - $150,000
$150 - $250,000
$250 - $350,000
$350 - $500,000
$500K - $1 Million
Over $1 Million
42%
25%
JOYCE POOLE
