Your Area's

MARKET UPDATE
CHARLOTTE, NC

· Current Real Estate Market Conditions for Single Family Homes

· Trends in Pricing
· Current Levels of Supply and Demand
· Value Metrics

· Report for the week of

August 09, 2010

· Presented by Walid Muhammad

Exit First Choice Realty
walidmREALTOR.com | walid@walidmrealtor.com
980.322.5757

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
 City Overview Single Family Homes in

Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

This Week Real-Time Market Profile Trend

The median list price in CHARLOTTE, Median List Price $ 190,000 ±+
NC this week is $190,000. The 6702 Average List Price $ 304,321
properties have been on the market Asking Price Per Square Foot $ 93 ±+
for an average of 181 days. Average Days on Market (DoM) 181 ==

Inventory of Properties Listed 6702 ≠≠

Most Expensive Listing $ 5,990,000

Inventory has been lightening lately Least Expensive Listing $ 12,500

and the Market Action Index has been Average Age of Listing 25
trending up. Though days-on-market Percent of Properties with Price Decrease 43 %
is increasing, these are mildly positive Percent Relisted (reset DOM) 11 %
indications for the market. Percent Flip (price increased) 3%
Median House Size (sq ft) 2100
Median Lot Size 0.25 - 0.50 acre
Median Number of Bedrooms 3.0

Supply and Demand

Median Number of Bathrooms 2.5

Altos Research Value Statistics

The market has shown some Market Action Index Strong Buyer's 13.1 ==
evidence of slowing recently. Both The Market Action Index answers the question "How's the Market?" By measuring
the current rate of sale versus the amount of the inventory. Index above 30
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

0.25 - 0.50
Top/First $ 525,000 3570 acre 4.0 3.5 16 1675 73 96 220 Most expensive 25% of properties

0.25 - 0.50
Upper/Second $ 247,900 2362 acre 4.0 2.5 18 1675 85 112 172 Upper-middle 25% of properties

0.25 - 0.50
Lower/Third $ 155,000 1890 acre 3.0 2.5 13 1676 138 117 166 Lower-middle 25% of properties

0.25 - 0.50
Bottom/Fourth $ 90,700 1417 acre 3.0 2.0 24 1676 137 141 165 Least expensive 25% of properties

Page 2 of 6 Monday August 9, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Median Price
Despite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading
indicator for the durability of this shift.

7-day Average 90-day Average

Quartile Prices
Prices 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 Monday August 9, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Price per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been
reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from
these levels.

7-day Average 90-day Average

Inventory of Properties Listed for Sale

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to
the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

7-day Average 90-day Average

Page 4 of 6 Monday August 9, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Market Action Index

The CHARLOTTE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 13.12. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of
inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market
shifts. 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 characterized
by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s
Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function
of the current rate of sale versus current inventory.

Page 5 of 6 Monday August 9, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Days on Market
The properties have been on the market for an average of 181 days. Half of the listings have come newly on the market in the
past 119 or so days.

7-day Average 90-day Average

Days on Market per Quartile

It 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 Monday August 9, 2010