Monthly Indicators % + 3.3% %

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1 ly Indicators A RESEARCH TOOL PROVIDED BY THE CHARLOTTE REGIONAL REALTOR ASSOCIATION FOR MORE INFORMATION CONTACT A REALTOR 2012 It's been a giant year for the housing market and for sports teams named Giants. As we round out the remaining two months of the year, let's recap. Most markets shed listings, resulting from strong sales and sluggish seller activity. There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less than in recent years. So it's both about market fundamentals and market composition. New Listings in the Charlotte region increased 6.5 percent to 3,448. Pending Sales were up 58.5 percent to 2,783. Inventory levels shrank 27.3 percent to 14,922 units. Prices gazed skyward. The Median Sales Price increased 3.3 percent to $157,000. List to Close was down 10.9 percent to 149 days. Absorption rates improved as s Supply of Inventory was down 44.3 percent to 6.0 months. The economy is growing but at a glacial pace, and economic growth in 2013 is expected to outpace Mortgage rates are expected to remain near historic lows through 2015, rents are expected to rise due to low vacancy, and financial situations in Europe, China and elsewhere, believe it or not, have an effect on your local housing market. Quick Facts % + 3.3% % -Over- Change in Closed Sales -Over- Change in Median Sales Price -Over- Change in Inventory Market Overview 2 New Listings 3 Pending Sales 4 Closed Sales 5 List to Close 6 Days on Market Until Sale 7 Cumulative Days on Market Until Sale 8 Average List Price 9 Average Sales Price 10 Median Sales Price 11 Percent of Original List Price Received 12 Housing Affordability Index 13 Inventory of Homes for Sale 14 s Supply of Inventory 15 Click on desired metric to jump to that page. All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing.

2 Market Overview Key market metrics for the current month and year-to-date. Key Metrics Historical Sparklines YTD 2011 YTD 2012 New Listings 3,238 3, % 40,525 40, % Pending Sales 1,756 2, % 19,744 26, % Closed Sales 1,882 2, % 19,345 23, % List to Close % % Average List Price $222,194 $235, % $240,166 $245, % Average Sales Price $194,739 $204, % $202,022 $209, % Median Sales Price $151,942 $157, % $152,490 $160, % Percent of Original List Price Received 90.0% 92.4% + 2.6% 89.2% 92.0% + 3.1% Housing Affordability Index % % Inventory of Homes for Sale 20,514 14, % s Supply of Homes for Sale % Note: The Pending Sales methodology changed in July Pending sales counts are used to calculate s Supply of Inventory. Therefore, year-over-year comparisons of Pending Sales and s Supply of Inventory may look extreme through June All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 2

3 New Listings A count of the properties that have been newly listed on the market in a given month. 3,769 3,238 3,448 50,039 40,525 40, % +6.5% -19.0% -0.1% November 3,374 2, % December 2,952 2, % January 4,067 3, % February 4,168 4, % March 5,212 4, % April 4,461 4, % May 4,205 4, % June 4,144 4, % July 3,681 3, % August 3,940 3, % September 3,409 3, % 3,238 3, % 12- Avg 3,904 3, % Historical New Listing Activity 8,000 7,000 6,000 5,000 4,000 3,000 2,000 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 3

4 Pending Sales A count of the properties on which contracts have been accepted in a given month. Pending contracts include Under Contract-Show and Under Contract-No Show statuses. 2,783 26,321 19,280 19,744 1,756 1, % +58.5% +2.4% +33.3% November 1,590 1, % December 1,438 1, % January 1,390 1, % February 1,616 2, % March 2,195 2, % April 2,155 2, % May 2,169 3, % June 2,304 3, % July 2,051 2, % August 2,218 2, % September 1,890 2, % 1,756 2, % 12- Avg 1,898 2, % Historical Pending Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 Note: The Pending Sales methodology changed in July 2012, therefore year-over-year comparisons for this metric may look extreme through June Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of November 5, All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 4

5 Closed Sales A count of the actual sales that have closed in a given month. 23,057 2,575 18,957 19,345 1,882 1, % +36.8% +2.0% +19.2% November 1,551 1, % December 1,883 1, % January 1,411 1, % February 1,325 1, % March 1,900 2, % April 1,882 2, % May 2,191 2, % June 2,330 2, % July 2,171 2, % August 2,285 2, % September 1,968 2, % 1,882 2, % 12- Avg 1,898 2, % Historical Closed Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 5

6 List to Close List to Close provides the total number of days specific to the MLS number from Listing Date to Sold Date % -10.9% +6.1% -7.9% November % December % January % February % March % April % May % June % July % August % September % % 12- Avg % Historical List to Close All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 6

7 Days on Market Until Sale Days on Market ( DOM ) tracks the days on market for a property specific to the MLS number. DOM accrues for Active and Under Contract-Show statuses. DOM does not include any days that the listing is in Under Contract-No Show, Temporarily off Market, Closed/Sold, Expired and Withdrawn statuses % -11.8% +7.3% -7.4% +/ November % December % January % February % March % April % May % June % July % August % September % % 12- Avg % Historical Days on Market All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 7

8 Cumulative Days on Market Until Sale Cumulative Days on Market ( CDOM ) functions like DOM ; however, CDOM tracks the days on market for a property over multiple listings on the property. When a new listing is entered, the CDOM only resets to zero if the previous listing closed (as in sold), or if the previous listing has been off market (expired or withdrawn) for more than 90 days % -20.5% +4.7% -13.9% +/ November % December % January % February % March % April % May % June % July % August % September % % 12- Avg % Historical Cumulative Days on Market All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 8

9 Average List Price Average list price for all homes that have been newly listed on the market in a given month. $249,013 $235,920 $240,166 $245,722 $224,037 $222, % +6.2% -3.6% +2.3% November $233,967 $221, % December $193,201 $213, % January $228,944 $246, % February $238,936 $248, % March $246,571 $258, % April $249,543 $264, % May $247,646 $240, % June $249,598 $239, % July $241,232 $233, % August $230,206 $238, % September $239,720 $245, % $222,194 $235, % 12- Avg $236,771 $242, % Historical Average List Price $300,000 $280,000 $260,000 $240,000 $220,000 $200,000 $180,000 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 9

10 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $202,146 $204,335 $208,491 $209,462 $202,022 $194, % + 4.9% - 3.1% + 3.7% November $214,554 $192, % December $194,132 $190, % January $187,971 $187, % February $180,940 $184, % March $195,336 $196, % April $203,442 $214, % May $209,288 $217, % June $216,389 $227, % July $213,205 $219, % August $205,711 $213, % September $196,649 $206, % $194,739 $204, % 12- Avg $202,223 $207, % Historical Average Sales Price $250,000 $240,000 $230,000 $220,000 $210,000 $200,000 $190,000 $180,000 $170,000 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 10

11 Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $154,000 $157,000 $151,942 $155,000 $152,490 $160, % +3.3% -1.6% +4.9% November $165,000 $151, % December $147,945 $155, % January $143,127 $146, % February $144,750 $145, % March $148,728 $153, % April $153,000 $159, % May $152,000 $165, % June $156,775 $171, % July $163,500 $165, % August $158,000 $163, % September $149,900 $160, % $151,942 $157, % 12- Med $153,000 $159, % Historical Median Sales Price $190,000 $180,000 $170,000 $160,000 $150,000 $140,000 $130,000 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 12

12 Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 88.6% 90.0% 92.4% 90.2% 89.2% 92.0% +1.6% +2.6% -1.0% +3.1% November 89.1% 90.7% +1.8% December 88.7% 90.0% +1.5% January 88.2% 90.2% +2.3% February 87.7% 90.7% +3.4% March 88.2% 91.3% +3.4% April 88.9% 91.9% +3.4% May 89.6% 92.2% +2.9% June 89.7% 92.7% +3.4% July 89.7% 92.4% +3.1% August 89.7% 92.4% +3.0% September 89.4% 91.9% +2.9% 90.0% 92.4% +2.6% 12- Avg 89.2% 91.7% +2.9% Historical Percent of Original List Price Received 100% 98% 96% 94% 92% 90% 88% 86% All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 13

13 Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % +3.3% +2.1% +2.0% November % December % January % February % March % April % May % June % July % August % September % % 12- Avg % Historical Housing Affordability Index All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 14

14 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 25,378 20,514 14, % -27.3% November 24,638 19, % December 23,447 18, % January 22,758 18, % February 23,113 18, % March 23,746 19, % April 24,177 19, % May 24,025 19, % June 23,622 18, % July 22,866 17, % August 22,060 17, % September 21,294 16, % 20,514 14, % 12- Avg 23,022 18, % Historical Inventory of Homes for Sale 30,000 27,500 25,000 22,500 20,000 17,500 15,000 12,500 All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 15

15 s Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % -44.3% November % December % January % February % March % April % May % June % July % August % September % % 12- Avg % Historical s Supply of Inventory Note: The Pending Sales methodology changed in July 2012, and pending sales counts are used to calculate s Supply of Inventory, therefore year-over-year comparisons for this metric may look extreme through June Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of November 5, All data from Carolina Multiple Listing Services, Inc. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 16