residential

SALES TRENDs
Realtor® Reflections revised the explanation for Days On Residential contracts reported
Market (DOM) and added a new chart and explanation
1,000 1,500 2,000 2,500 3,000
for List to Close in 2009. Reflections also added a new
feature to the Sales Trends pages, “County Spotlight,” M 2,028
which tracks average sales price and closing data for each
A 2,269
of the counties in the Carolina Multiple Listing Services,
Inc. (CMLS) 10-county service area. Prior to October M 2,350
2009, Reflections included a total Active Listings figure, J 2,167
which included “Contingent,” “Conditional,” “Active”
and “Pending” listings. Starting with November 2009, J 2,341
the On-Market Listing figure includes “Contingent,” A 2,434
“Conditional” and “Active” listings only. Reflections always
S 2,199
seeks reader comments and ideas. Please contact
Natalia Russo at natalia.russo@carolinahome.com if you O 2,400
would like different data charted in this section.
N 1,645
D 1,466 2009
List to close J 1,833 2010
F 1,954
Of reported home sales that closed from
M 2,498
May 6, 2010 through June 5, 2010, 42
percent closed in 121 days or more; 15 A 2,988
percent closed between 91 and 120 days; M 2,059
20 percent closed between 61 and 90 days;
and 23 percent closed in 60 days or fewer. Contracts reported from May 6, 2010 through June 5, 2010 decreased 12.4 percent
Percentages are rounded to reflect 100 over the same period a year ago.
percent. Average list to close: 141.5

Residential closings reported

74
1,000 1,500 2,000 2,500 3,000

M 1,671
499
A 1,773
M 1,912
1063 J 2,024
J 2,223
514
A 2,221
S 1,945
387 O 2,210
N 2,000
D 1,527
0-30 91-120
J 1,363
31-60 121+ F 1,397
2009
61-90 M 1,900
2010
A 2,220
Listing and Sales Prices (May 6, 2010
through June 5, 2010) The average listing M 2,537
price of solds was $238,736. The average Closings reported from May
Dec. 6,
6, 2010
2008 through
through June 5, 2010
Jan. 5, 2010 decreased
increased 32.7
47.2 percent
percent
sales price was $212,454. when compared to the same period a year ago.

36 realtor® reflections July/august 2010

Realtor® Reflections, July/August 2010, Charlotte Regional Realtor® Association
 Additional market activity data is available for May 2010
members at www.Carolinarealtors.com.

Average residential closing price Mortgage rates

$175K $200K $225K

M $191,433 5.50
A $201,352

5.42
M $199,243
J $218,728 5.25

5.25
J $212,977
A $209,245

5.14
5.14
S $196,760

5.04

5.06
5.00

5.05
5.03
O $196,204

4.91

4.98

4.99
N $195,244

D $211,705
4.75

4.78

4.78
J $200,592
F $191,288
M $197,564
2009 4.50
A $201,410
M J J A S O N D J F M A M
M $212,454 2010
2009 2010
The average closing price from May 6, 2010 through June 5, 2010
increased 6.6 percent when compared to the same period a year ago. Source: Freddie Mac, Primary Mortgage Market Survey, 30-Year Fixed Mortgage Rate, compilation of Weekly Surveys

CMLS listings by price range

CLOSED On Market
100 200 300 400 500 600 700 800 1,000 2,000 3,000 4,000 5,000 6,000

< $120K 835 < $120K 5,850

$120K-150K 365 $120K-150K 3,131

$150K-190K 376 $150K-190K 3,583

$190K-250K 342 $190K-250K 3,909

$250K-350K 300 $250K-350K 3,690

$350K-500K 175 $350K-500K 2,726

$500K-1M 114 $500K-1M 2,331

$1 Million + 30 $1 Million + 787

TOTAL CLOSED: 2,537 TOTAL ON MARKET: 26,007

July/august 2010 realtor® reflections 37

Realtor® Reflections, July/August 2010, Charlotte Regional Realtor® Association
 Additional market activity data is available for
members at www.Carolinarealtors.com.

Days on market

Of reported home sales that closed from May 6, 2010 through June 5, 2010, 32.8 percent came under contract in 121 days
or more; 11.9 percent came under contract between 91 and 120 days; 15.5 percent came under contract between 61 and
90 days; and 39.8 percent came under contract in 60 days or fewer. Percentages are rounded to reflect 100 percent.
Average days on market: 116

520
0-30

31-60
832
61-90 Data on these pages comes from Carolina Multiple
Listing Services, Inc. The information may be
91-120 489 subject to errors and should be verified by the
user. Additional market activity data is available
121+
for members at www.Carolinarealtors.com.
This information/data is for counties in the CMLS
301 395 service area, but the CMLS information/Data also
includes listings outside the service area, which
are included in the compilations.

2010 Realtor of the Year ®

Now accepting nominations for local association award

You might know someone who deserves one of the Charlotte Regional Realtor® Association’s most
prestigious awards. We are now accepting nominations for the Realtor® of the Year award.
The Realtor® of the Year award is a highly acclaimed and coveted honor that has been presented to deserving members for
51 years. Each year, the Harlan Cup is presented to the winner at the annual Charlotte-area Holiday & Awards Luncheon.
If you know a member who meets the criteria necessary for consideration (see below), please contact Michele Di Donato at
704-940-3150 or michele.didonato@carolinahome.com for a nomination form. The form is also at www.CarolinaRealtors.com.

criteria
• A Realtor® member in good standing who has made outstanding contributions to the community beyond his or her
activities in the real estate profession. Activities must include civic, church, state and/or political endeavors.
• The individual must be a member of the Charlotte Regional Realtor® Association.

Nominations for the 2010 recipient must be submitted by 5 p.m. on Oct. 1.

Let us know about our shining-star Realtors® and submit your nomination today!

38 realtor® reflections July/august 2010

Realtor® Reflections, July/August 2010, Charlotte Regional Realtor® Association
 Union countY Overview

S p o tl i g h t
Union County closings May 2009-May 2010

300

250

240
226
224
214

200
208

204
194

187
181

182
150

152

127
115

100

50

May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. March April May
2009 2009 2009 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010

Union County average sales price May 2009-May 2010

$350,000
$300,194

$325,000

$280,202
$300,000
$267,172
$267,671

$265,567

$262,266
$263,968

$254,550

$275,000
$245,811

$243,326

$240,972
$236,303
$234,863

$250,000

$225,000

May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. March April May
2009 2009 2009 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010

July/august 2010 realtor® reflections 39

Realtor® Reflections, July/August 2010, Charlotte Regional Realtor® Association