Walid Muhammad Market Update [SF] Charlotte NC Sep 23 2010
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Transcript of Walid Muhammad Market Update [SF] Charlotte NC Sep 23 2010
8/8/2019 Walid Muhammad Market Update [SF] Charlotte NC Sep 23 2010
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MARKET UPDATEYour Area's
· Current Real Estate Market Conditions for Single Family Homes
· Trends in Pricing· Current Levels of Supply and Demand
· Value Metrics
· Report for the week ofSeptember 20, 2010
· Presented by Walid MuhammadExit First Choice Realty walidmREALTOR.com | [email protected]
CHARLOTTE, N
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
8/8/2019 Walid Muhammad Market Update [SF] Charlotte NC Sep 23 2010
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Median List Price
Median Lot Size
13.1
Percent Relisted (reset DOM)
2047
2.5
3 %
Median Number of Bathrooms
182
Inventory of Properties Listed
$ 91
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 185,000
45 %
3.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
12 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
±+
±+
±+
±+
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
ottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
15 603570
1672.5 13
3.0
58
176
3.0 1656
161
59
61
0.25 - 0.50acre
24
$ 149,900
84
54
1656
3.5
0.25 - 0.50acre
802.5
14170.25 - 0.50
acre
1655
$ 89,000
4.0
222
0.25 - 0.50acre$ 239,900
4.0$ 500,000
18
88
2310
Inventory has been tightening butdays-on-market and the Market ActionIndex have been basically unchanged,not providing strong indication formarket conditions.
Monday September 20, 2010
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
1655
1837
2.0
The median list price in CHARLOTTE,NC this week is $185,000. The 6622
properties have been on the marketfor an average of 182 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
CHARLOTTE,
City Overview
Least Expensive Listing
Average List Price
Average Age of Listing
6622
$ 6,200,000
$ 15,900
$ 295,641
25
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
Page 2 of 6
Single Family Home
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Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
City OverviewCHARLOTTE,
Monday September 20, 2010
Median PriceThe market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability ofthis trend.
90-day Average7-day Average
Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 3 of 6
Single Family Hom
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Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
City OverviewCHARLOTTE,
Monday September 20, 2010
Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 4 of 6
Single Family Hom
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Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
City OverviewCHARLOTTE,
Monday September 20, 2010
Market Action IndexThe CHARLOTTE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 13.07. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group
changes.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical functionof the current rate of sale versus current inventory.
Page 5 of 6
Single Family Hom
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Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
City OverviewCHARLOTTE,
Monday September 20, 2010
Days on MarketThe properties have been on the market for an average of 182 days. Half of the listings have come newly on the market in thepast 126 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 6 of 6
Single Family Hom