March 2011 Mary Schurr Charlotte NC Real Estate Newsletter

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

[email protected]

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

[email protected]

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