Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 1, Issue 11
Bill Passed to Renew $8000 Tax Credit & More
Market Activity and Trends for Charlotte & Surrounding Counties
Credits Offered to both First Time Home Buyers and on Purchase of a New Primary Residence
NOVEMBER 2009 On Friday, November 6, President Obama signed a new bill to ex‐ tend the $8000 tax credit for first‐time home buyers until June 2010. First‐time home buyers will receive the $8000 tax credit if they sign a contract by April 30, 2010 and close on the home by June 30, 2010. The new bill also will provide a $6500 credit for homeowners who purchase a new primary residence, and have lived in their current home for at least five of the previous 8 years. The bill has a few provisions including: • Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible • Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. The bill also introduced 20 weeks of unemployment benefits in states with jobless rates above 8.5%. States with unemployment rates below 8.5% would provide 14 weeks of unemployment bene‐ fits. The bill also provides refunds on profit taxes for businesses that had operating losses in 2008 and 2009.
www.helenadamsrealty.com
Residential Closings - Entire MLS 2008 - 2009 ASP = Average Sold Price Data Courtesy Carolina MLS.
Download the new Tax Credit forms and guidelines by visiting: www.helenadamsrealty.com/resources
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
800‐851‐5253 / www.helenadamsrealty.com
The average closing price for the Charlotte area in Oct. 2009 was $196,204, down approximately 9.5% compared to 2008. Average days from listing date to closing was 140.7 in October.
There were 2210 total closings in Oct. 2009, up 16.4% compared to 2008. The bulk of home sales continues to be in the lower price ranges, with 89% of sales in the $350,000 and under category.
Current Active Listings by Price Range
Oct. 2009 Closed Sales by Price Range
4%
0.7%
Under $250,000
10% 11%
4%
$250 - $350,000 $350 - $500,000
$1 Million +
15%
6% 10%
$250 - $350,000 $350 - $500,000 $500K - $1 Million
$500K - $1 Million
60%
Under $250,000
79%
$1 Million +
Total Active Listings = 23,850
Total Sold Oct. 09 = 2210
Data Courtesy Carolina MLS.
Data Courtesy Carolina MLS.
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Volume 1, Issue 11
Total Closed Units
On the Move - Helen Adams Realty
Volume 1, Issue 11
Page 3
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
October 2009 - All MLS Areas Residential Single Family, Townhomes & Condos MLS Area
Units
Total
Average
Closed
Closed Volume Closing Price
01 ‐ Mecklenburg County (N)
215
$ 37,649,103
$ 175,112
02 ‐ Mecklenburg County (E)
132
$ 16,612,611
$ 125,853
03 ‐ Mecklenburg County (SE)
81
$ 11,959,319
$ 147,645
04 ‐ Mecklenburg County (SSE) 83
$ 20,724,825
$ 249,696
05 ‐ Mecklenburg County (S)
160
$ 54,012,089
$ 337,575
06 ‐ Mecklenburg County (SSW) 77
$ 15,323,417
$ 199,005
07 ‐ Mecklenburg County (SW)
83
$ 12,693,799
$ 152,937
08 ‐ Mecklenburg County (W)
49
$ 4,266,280
$ 87,066
09 ‐ Mecklenburg County (NW) 89
$ 12,643,834
$ 142,065
10 ‐ Union County
204
$ 51,928,385
$ 254,550
11 ‐ Cabarrus County
126
$ 21,134,511
$ 167,734
12 ‐ Iredell County
104
$ 14,892,654
$ 143,198
•
46 percent of homes closed in 121+ days.
13 ‐ Lake Norman
99
$ 42,760,411
$ 431,923
•
13 percent of homes closed in 91‐120 days.
14 ‐ Lincoln County
47
$ 6,048,600
$ 128,693
•
17 percent of homes closed in 61‐90 days.
15 ‐ Lake Wylie
37
$ 11,155,056
$ 301,488
•
19 percent of homes closed in 31‐60 days.
16 ‐ Gaston County
169
$ 19,933,855
$ 117,951
•
4 percent of homes closed in 0‐30 days.
17 ‐ York County
174
$ 34,140,308
$ 196,208
20 ‐ Alexander County
9
$ 1,520,400
$ 168,933
21 ‐ Rowan County
66
$ 8,523,240
$ 129,140
22 ‐ Cleveland County
32
$ 4,786,806
$ 149,587
23 ‐ Stanly County
25
$ 3,862,444
$ 154,497
24 ‐ Lancaster County
52
$ 10,192,068
$ 196,001
25 ‐ Anson County
7
$ 590,900
$ 84,414
29 ‐ Catawba County
32
$ 4,466,827
$ 139,588
35 ‐ Chester County
2
$ 165,000
$ 82,500
42 ‐ Mtn. Island Lake
11
$ 2,122,600
$ 192,963
99 ‐ Uptown Charlotte
13
$ 2,765,000
$ 212,692
TOTAL (ALL MLS)
2210
$481,673,877
Days on Market The following statistics apply to Sept. 6 to Oct. 6, 2009, and reflect days on market from the original listing date to the recorded closing date.
Listing Date to Closing Date 85 sold in 0-30 days
373 sold 894 sold
in 31-60 days
in 121+ days
121+ days 91-120 days 61-90 days 31-60 days 0-30 days
339 sold in 61-90 days
254 sold
in 91-120 days
$196,204 Average List to Close = 142.6 days Data Courtesy Carolina MLS.
Source: Freddie Mac, NAR, Oct., 2009
www.helenadamsrealty.com
www.helenadamsrealty.com
Page 2
On the Move - Helen Adams Realty
Volume 1, Issue 11
Total Closed Units
On the Move - Helen Adams Realty
Volume 1, Issue 11
Page 3
Pending Contracts
Average Residential Closing Price
New Listings
30 Year Fixed Mortgage Rates
October 2009 - All MLS Areas Residential Single Family, Townhomes & Condos MLS Area
Units
Total
Average
Closed
Closed Volume Closing Price
01 ‐ Mecklenburg County (N)
215
$ 37,649,103
$ 175,112
02 ‐ Mecklenburg County (E)
132
$ 16,612,611
$ 125,853
03 ‐ Mecklenburg County (SE)
81
$ 11,959,319
$ 147,645
04 ‐ Mecklenburg County (SSE) 83
$ 20,724,825
$ 249,696
05 ‐ Mecklenburg County (S)
160
$ 54,012,089
$ 337,575
06 ‐ Mecklenburg County (SSW) 77
$ 15,323,417
$ 199,005
07 ‐ Mecklenburg County (SW)
83
$ 12,693,799
$ 152,937
08 ‐ Mecklenburg County (W)
49
$ 4,266,280
$ 87,066
09 ‐ Mecklenburg County (NW) 89
$ 12,643,834
$ 142,065
10 ‐ Union County
204
$ 51,928,385
$ 254,550
11 ‐ Cabarrus County
126
$ 21,134,511
$ 167,734
12 ‐ Iredell County
104
$ 14,892,654
$ 143,198
•
46 percent of homes closed in 121+ days.
13 ‐ Lake Norman
99
$ 42,760,411
$ 431,923
•
13 percent of homes closed in 91‐120 days.
14 ‐ Lincoln County
47
$ 6,048,600
$ 128,693
•
17 percent of homes closed in 61‐90 days.
15 ‐ Lake Wylie
37
$ 11,155,056
$ 301,488
•
19 percent of homes closed in 31‐60 days.
16 ‐ Gaston County
169
$ 19,933,855
$ 117,951
•
4 percent of homes closed in 0‐30 days.
17 ‐ York County
174
$ 34,140,308
$ 196,208
20 ‐ Alexander County
9
$ 1,520,400
$ 168,933
21 ‐ Rowan County
66
$ 8,523,240
$ 129,140
22 ‐ Cleveland County
32
$ 4,786,806
$ 149,587
23 ‐ Stanly County
25
$ 3,862,444
$ 154,497
24 ‐ Lancaster County
52
$ 10,192,068
$ 196,001
25 ‐ Anson County
7
$ 590,900
$ 84,414
29 ‐ Catawba County
32
$ 4,466,827
$ 139,588
35 ‐ Chester County
2
$ 165,000
$ 82,500
42 ‐ Mtn. Island Lake
11
$ 2,122,600
$ 192,963
99 ‐ Uptown Charlotte
13
$ 2,765,000
$ 212,692
TOTAL (ALL MLS)
2210
$481,673,877
Days on Market The following statistics apply to Sept. 6 to Oct. 6, 2009, and reflect days on market from the original listing date to the recorded closing date.
Listing Date to Closing Date 85 sold in 0-30 days
373 sold 894 sold
in 31-60 days
in 121+ days
121+ days 91-120 days 61-90 days 31-60 days 0-30 days
339 sold in 61-90 days
254 sold
in 91-120 days
$196,204 Average List to Close = 142.6 days Data Courtesy Carolina MLS.
Source: Freddie Mac, NAR, Oct., 2009
www.helenadamsrealty.com
www.helenadamsrealty.com
Page 4
On the Move - Helen Adams Realty
ONthe MOve
Volume 1, Issue 11
Bill Passed to Renew $8000 Tax Credit & More
Market Activity and Trends for Charlotte & Surrounding Counties
Credits Offered to both First Time Home Buyers and on Purchase of a New Primary Residence
NOVEMBER 2009 On Friday, November 6, President Obama signed a new bill to ex‐ tend the $8000 tax credit for first‐time home buyers until June 2010. First‐time home buyers will receive the $8000 tax credit if they sign a contract by April 30, 2010 and close on the home by June 30, 2010. The new bill also will provide a $6500 credit for homeowners who purchase a new primary residence, and have lived in their current home for at least five of the previous 8 years. The bill has a few provisions including: • Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible • Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. The bill also introduced 20 weeks of unemployment benefits in states with jobless rates above 8.5%. States with unemployment rates below 8.5% would provide 14 weeks of unemployment bene‐ fits. The bill also provides refunds on profit taxes for businesses that had operating losses in 2008 and 2009.
www.helenadamsrealty.com
Residential Closings - Entire MLS 2008 - 2009 ASP = Average Sold Price Data Courtesy Carolina MLS.
Download the new Tax Credit forms and guidelines by visiting: www.helenadamsrealty.com/resources
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
800‐851‐5253 / www.helenadamsrealty.com
The average closing price for the Charlotte area in Oct. 2009 was $196,204, down approximately 9.5% compared to 2008. Average days from listing date to closing was 140.7 in October.
There were 2210 total closings in Oct. 2009, up 16.4% compared to 2008. The bulk of home sales continues to be in the lower price ranges, with 89% of sales in the $350,000 and under category.
Current Active Listings by Price Range
Oct. 2009 Closed Sales by Price Range
4%
0.7%
Under $250,000
10% 11%
4%
$250 - $350,000 $350 - $500,000
$1 Million +
15%
6% 10%
$250 - $350,000 $350 - $500,000 $500K - $1 Million
$500K - $1 Million
60%
Under $250,000
79%
$1 Million +
Total Active Listings = 23,850
Total Sold Oct. 09 = 2210
Data Courtesy Carolina MLS.
Data Courtesy Carolina MLS.
www.helenadamsrealty.com