Category Archives: Recent Market Activity

The Two Latest Signs Housing Is Recovering

The Wall Street Journal reports that Toll Brothers Inc. and Hovnanian Enterprises Inc., said their losses were shrinking compared to last year because buyers are coming back to the market announces James Hagerty and John Spence. 

Other encouraging news came from HIS Global Insight, a research firm, which said home prices fell on average at an annual rate of 2.2 percent in the first quarter in 199 of 330 metropolitan areas. That compares with a 12.5 percent decline in the fourth quarter of 2008 in 312 metropolitan areas.

“While it’s too early to see a bottom of this housing downturn,” the report said, the latest data “may signal that the market is beginning to stabilize.”

‘I am personally experiencing meeting up with buyers who were looking in 2007, but who did not close on anything, coming back around to begin the search in earnest,’ adds Chrystal Safari of Peters and Associates, Inc.

                                                         #     #     #

Join me for another of the  Luxury Living Events this weekend in Montreux Old World Estates off Youngblood Road in south Charlotte and enjoy a ‘Meet the Builder’ Wine and Cheese.  See ChrystalSafari.com,

Can pending home sales in the Northeastern U. S. impact our market?

 

Tuesday, June 2, 2009, 11:00am EDT  |  Modified: Tuesday, June 2, 2009, 5:30pm                     

Lower prices and attractive mortgage rates are breathing new life into housing, with one measure of sales posting its fourth increase in the last five months reports the Washington Business Journal’s staff reporter Jeff Clabaugh.

Pending sales of existing homes, or contracts signed but not closed, rose 6.7 percent in April, according to the National Association of Realtors. April’s pending sales were up 3.2 percent from a year ago, the NAR says.

The biggest increase in April was in the Northeast, where pending sales jumped 32.6 percent from the previous month. 

This is great news for our real estate market because many of the folks who have already relocated to the Charlotte area from the Northeast areas where pending sales bring promise of closure are renting and will soon be free to move forward in the purchase of their Charlotte home, added Chrystal Safari of Peters & Associates, Inc.

The NAR’s pending home sales index is a forward looking gauge, and the group cautions that it is more volatile than actual closed sales.

“The relationship between contracts on pending home sales and closings on existing home sales is taking longer than in the past for several reasons,” says NAR chief economist Lawrence Yun. “Mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment.”

Still, Yun says he believes the housing market has already bottomed out in some areas.

The group last week reported closed sales of existing homes rose 2.9 percent in April.

The NAR’s housing affordability index was also at its second-highest level on record in April.

                                                               #       #       #

Chrystal Safari has over 15 years experience in personal property management and residential real estate sales and is a Luxury Home Specialist and licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a member in good standing of the Charlotte Regional Association of REALTORS®, North Carolina Association of REALTORS®, and National Association of REALTORS®.

Charlotte Housing Shows Monthly Gains

Friday, May 8, 2009, 12:17pm EDT

The Charlotte Business Journal reports the number of residential real estate closings in the Charlotte region grew 6.1 percent in April from March, according to the Charlotte Regional Realtor Association.

The average sales price increased 5.2 percent.

There were 1,773 closings in April, up from 1,671 in March.

The average sales price rose to $201,352 from $191,433.

However, closings and sales prices are down significantly from a year ago.

Last month’s closings fell 26.1 percent from April 2008, when there were 2,400 closings. The average sales price dropped 9.1 percent from $221,497 a year ago.

The average listing price of houses sold last month ($228,550) was down 2.8 percent from April 2008’s average list price of $235,127. However, it increased 5.7 percent from March’s list price of $216,135.

                                                                            ###

Chrystal grew up in nearby Kannapolis and moved to Charlotte to attend college at the University of North Carolina at Charlotte.  There she met and married her college sweetheart and has made Charlotte her home ever since.  After several years as landlady, managing her own rental properties, Chrystal made real estate consulting her career and enjoys her area of special interest, excellent client care.  As MASTERS DESIGNATION holder from the Allen Tate Companies, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, and Technology.  Licensed in North and South Carolina, she is ready to meet your real estate investing or liquidating needs.  Contact her for all your real estate needs at 704.562.1030.

Charlotte Area Showings Trends

I spoke with a rep at Centralized Showings today to ask the showing trends, appointments that have been made by agents to show buyers homes, in the Charlotte market. 

Great news!  Our market has officially begun!

Here are the stats:

FOURTH QUARTER 2008

October had 50,461 scheduled showings

November had 46,160 scheduled showings

December had 38,829 scheduled showings

FIRST QUARTER 2009

(Numbers still being gathered as we complete March)

January had 61,822 scheduled showings

February (shortest month) had 59,034 scheduled showings

     The numbers speak for themselves that buyers are back on the move, making appointments with agents to view real estate. 

     These numbers don’t include the visits to new construction communities where buyers, with and without agents, tour model homes, negotiate contracts, begin building and close.

     For sellers, this is great news that buyers are actively searching for homes with agents.  And for buyers, it should be motivation to make that offer since more buyers are moving into the market.

     Rates are still low, inventory high, and lenders and builders are making nice concessions because it’s end of month, end of quarter.  If you’ve been thinking of making your next move, email me.  I can help you negotiate your best deal.

chrystal.safari@gmail.com

January 2009 Real Estate Market Activity

  Single Family List Prices
Area Count Low High Average
01 – Mecklenburg County (N) 1408 $19,900 $2,544,633 $258,963
02 – Mecklenburg County (E) 1079 $19,900 $1,100,000 $185,918
03 – Mecklenburg County (SE) 630 $48,000 $1,397,450 $242,245
04 – Mecklenburg County (SSE) 797 $38,000 $5,100,000 $500,162
05 – Mecklenburg County (S) 1222 $89,900 $7,890,000 $736,340
06 – Mecklenburg County (SSW) 414 $38,900 $1,450,000 $322,586
07 – Mecklenburg County (SW) 502 $13,900 $1,799,340 $190,771
08 – Mecklenburg County (W) 628 $14,900 $3,900,000 $131,686
09 – Mecklenburg County (NW) 800 $26,900 $2,950,000 $209,236
10 – Union County 2646 $27,000 $4,850,000 $432,308
11 – Cabarrus County 1751 $19,900 $2,800,000 $285,561
12 – Iredell County 1145 $14,000 $9,000,000 $239,674
13 – Lake Norman 1587 $32,900 $10,500,000 $727,061
14 – Lincoln County 519 $15,000 $1,575,000 $214,542
15 – Lake Wylie 529 $56,900 $3,200,000 $602,960
1  of 3    

 

   Condo/Townhouse List Prices
Area Count Low High Average
01 – Mecklenburg County (N) 367 $49,900 $559,000 $172,228
02 – Mecklenburg County (E) 298 $27,500 $699,000 $156,348
03 – Mecklenburg County (SE) 163 $29,900 $550,000 $160,303
04 – Mecklenburg County (SSE) 252 $50,400 $1,778,000 $310,505
05 – Mecklenburg County (S) 855 $59,900 $2,099,000 $362,636
06 – Mecklenburg County (SSW) 369 $20,000 $2,115,000 $235,806
07 – Mecklenburg County (SW) 139 $55,000 $449,900 $160,901
08 – Mecklenburg County (W) 107 $25,500 $932,000 $199,623
09 – Mecklenburg County (NW) 70 $65,500 $359,900 $136,066
10 – Union County 110 $94,900 $285,000 $158,809
11 – Cabarrus County 111 $47,900 $895,000 $173,615
12 – Iredell County 140 $68,000 $475,000 $182,829
13 – Lake Norman 227 $42,500 $1,700,000 $340,215
14 – Lincoln County 22 $118,900 $269,900 $204,500
15 – Lake Wylie 77 $74,900 $387,000 $203,816
1 of 2  

 

  MultiFamily List Prices
Area Count Low High Average
01 – Mecklenburg County (N) 6 $65,875 $1,100,000 $273,429
02 – Mecklenburg County (E) 23 $42,500 $5,450,000 $381,678
03 – Mecklenburg County (SE) 8 $79,900 $1,625,000 $360,975
04 – Mecklenburg County (SSE) 21 $49,500 $1,200,000 $208,438
05 – Mecklenburg County (S) 6 $255,900 $1,180,000 $622,616
06 – Mecklenburg County (SSW) 10 $93,000 $625,000 $212,340
07 – Mecklenburg County (SW) 7 $47,500 $104,500 $84,385
08 – Mecklenburg County (W) 20 $39,900 $3,876,000 $588,404
09 – Mecklenburg County (NW) 2 $105,900 $649,900 $377,900
10 – Union County 5 $124,900 $1,299,000 $387,720
11 – Cabarrus County 19 $57,460 $1,450,000 $338,866
12 – Iredell County 11 $59,500 $2,000,000 $346,836
13 – Lake Norman 2 $239,000 $899,900 $569,450
14 – Lincoln County 3 $114,900 $487,600 $345,733
16 – Gaston County 29 $39,900 $1,499,000 $295,969
1 of 2  

 

   Lots and Land List Prices
Area Count Low High Average
01 – Mecklenburg County (N) 177 $6,000 $7,990,875 $458,168
02 – Mecklenburg County (E) 110 $13,900 $3,870,000 $333,293
03 – Mecklenburg County (SE) 235 $12,500 $4,480,000 $263,010
04 – Mecklenburg County (SSE) 82 $23,500 $1,999,900 $304,653
05 – Mecklenburg County (S) 135 $24,900 $2,500,000 $418,414
06 – Mecklenburg County (SSW) 29 $22,500 $495,000 $248,741
07 – Mecklenburg County (SW) 57 $9,900 $2,000,000 $329,616
08 – Mecklenburg County (W) 95 $6,700 $2,058,228 $177,598
09 – Mecklenburg County (NW) 110 $8,900 $7,140,000 $278,660
10 – Union County 842 $7,500 $20,000,000 $327,622
11 – Cabarrus County 556 $7,500 $20,800,000 $389,483
12 – Iredell County 907 $3,990 $10,081,500 $240,467
13 – Lake Norman 1364 $15,000 $8,167,110 $223,002
14 – Lincoln County 777 $7,000 $2,999,900 $77,581
15 – Lake Wylie 505 $10,000 $3,900,000 $270,444
1 of 3    

                                                                *information current as of 01/25/2009

For more specific information, including information on your changing neighborhood values, or an expert evaluation of the current real estate snapshot of the Greater Charlotte Area, contact me: chrystal.safari@gmail.com   I am at your service.