ly Indicators A RESEARCH TOOL PROVIDED BY THE CHARLOTTE REGIONAL REALTOR ASSOCIATION FOR MORE INFORMATION CONTACT A REALTOR 2013 The S&P/Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up. New Listings in the Charlotte region increased 11.7 percent to 5,115. Pending Sales were up 56.8 percent to 3,933. Inventory levels shrank 30.1 percent to 14,053 units. Prices turned higher. The Median Sales Price increased 4.4 percent to $167,000. List to Close was down 8.9 percent to 142 days. Absorption rates improved as s Supply of Inventory was down 49.7 percent to 4.9 months. The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery. Quick Facts + 34.5% + 4.4% - 30.1% -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 CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing.
Market Overview Key market metrics for the current month and year-to-date. Key Metrics Historical Sparklines 4-2012 4-2013 YTD 2012 YTD 2013 New Listings 4,581 5,115 + 11.7% 17,305 18,210 + 5.2% Pending Sales 2,509 3,933 + 56.8% 8,736 13,018 + 49.0% Closed Sales 2,168 2,915 + 34.5% 7,421 9,738 + 31.2% List to Close 155 142-8.9% 161 148-8.0% Average List Price $263,391 $275,150 + 4.5% $254,338 $266,933 + 5.0% Average Sales Price $214,739 $217,166 + 1.1% $197,399 $205,964 + 4.3% Median Sales Price $159,990 $167,000 + 4.4% $151,500 $160,000 + 5.6% Percent of Original List Price Received 91.9% 93.6% + 1.8% 91.1% 93.0% + 2.1% Housing Affordability Index 190 192 + 1.3% 198 199 + 0.4% Inventory of Homes for Sale 20,108 14,053-30.1% -- -- -- s Supply of Homes for Sale 9.8 4.9-49.7% -- -- -- Note: CarolinaMLS did not include showable under contract listings in the Pending Sales stats before July 2012. Listing agents report listings as Under Contract-Show earlier in the transaction. As a result, the new Pending Sales stats trend higher s Supply of Inventory stats trend lower since July 2012. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 2
New Listings A count of the properties that have been newly listed on the market in a given month. 5,115 17,908 17,305 18,210 4,461 4,581 +2.7% +11.7% -3.4% +5.2% May 4,205 4,528 +7.7% June 4,144 4,202 +1.4% July 3,681 4,008 +8.9% August 3,940 3,880-1.5% September 3,409 3,345-1.9% October 3,244 3,525 +8.7% November 2,880 3,085 +7.1% December 2,384 2,367-0.7% January 3,889 3,897 +0.2% February 4,019 4,283 +6.6% March 4,816 4,915 +2.1% 4,581 5,115 +11.7% 12- Avg 3,766 3,929 +4.3% Historical New Listing Activity 8,000 7,000 6,000 5,000 4,000 3,000 2,000 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 3
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. 3,933 13,018 8,736 2,509 2,153 7,351 +16.5% +56.8% +18.8% +49.0% May 2,169 3,154 +45.4% June 2,304 3,646 +58.2% July 2,046 2,798 +36.8% August 2,215 2,627 +18.6% September 1,889 2,257 +19.5% October 1,760 2,448 +39.1% November 1,799 2,179 +21.1% December 1,610 1,953 +21.3% January 1,800 2,652 +47.3% February 2,022 2,868 +41.8% March 2,405 3,565 +48.2% 2,509 3,933 +56.8% 12- Avg 2,044 2,840 +38.9% Historical Pending Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 Note: CarolinaMLS did not include showable under contract listings in the Pending Sales stats before July 2012. Listing agents report listings as Under Contract-Show earlier in the transaction. As a result, the new Pending Sales stats trend higher s Supply of Inventory stats trend lower since July 2012. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 4
Closed Sales A count of the actual sales that have closed in a given month. 2,915 9,738 2,168 7,421 1,882 6,518 +15.2% +34.5% +13.9% +31.2% May 2,191 2,605 +18.9% June 2,330 2,657 +14.0% July 2,171 2,651 +22.1% August 2,285 2,900 +26.9% September 1,968 2,243 +14.0% October 1,882 2,574 +36.8% November 1,686 2,275 +34.9% December 1,896 2,338 +23.3% January 1,541 2,160 +40.2% February 1,614 2,043 +26.6% March 2,098 2,620 +24.9% 2,168 2,915 +34.5% 12- Avg 1,986 2,498 +26.4% Historical Closed Sales Activity 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 5
List to Close List to Close provides the total number of days specific to the MLS number from Listing Date to Sold Date. 170 163 161 155 148 142-4.8% -8.9% -5.4% -8.0% May 161 149-7.7% June 161 148-8.2% July 160 148-7.6% August 158 143-9.1% September 168 150-10.8% October 167 149-10.9% November 161 146-9.0% December 158 156-1.6% January 165 155-5.8% February 159 147-7.6% March 166 151-9.0% 155 142-8.9% 12- Avg 162 148-8.6% Historical List to Close 200 190 180 170 160 150 140 130 120 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 6
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. 125 116 122 119 101 107-7.6% -12.8% -2.4% -10.2% +/ May 119 111-7.4% June 121 111-8.2% July 119 109-7.9% August 117 104-11.3% September 126 111-12.0% October 122 108-11.7% November 118 106-9.8% December 122 115-5.6% January 122 108-11.6% February 119 106-10.5% March 120 112-6.1% 116 101-12.8% 12- Avg 155 130-16.2% Historical Days on Market 140 130 120 110 100 90 80 70 60 50 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 7
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. 166 164 148 149 119 125-10.7% -19.4% -8.8% -16.4% +/ May 162 141-13.1% June 162 138-14.7% July 157 135-14.6% August 151 128-15.2% September 164 132-19.4% October 161 128-20.5% November 151 126-16.2% December 154 131-14.7% January 146 126-13.9% February 151 124-17.7% March 152 131-13.9% 148 119-19.4% 12- Avg 155 130-16.2% Historical Cumulative Days on Market 200 180 160 140 120 100 80 60 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 8
Average List Price Average list price for all homes that have been newly listed on the market in a given month. $266,933 $254,338 $241,464 $275,150 $263,391 $249,356 +5.6% +4.5% +5.3% +5.0% May $247,536 $238,838-3.5% June $249,449 $238,375-4.4% July $241,070 $231,752-3.9% August $230,073 $236,294 +2.7% September $239,665 $242,595 +1.2% October $222,103 $231,825 +4.4% November $221,797 $219,090-1.2% December $213,016 $220,485 +3.5% January $245,875 $248,925 +1.2% February $247,590 $264,187 +6.7% March $258,197 $275,008 +6.5% $263,391 $275,150 +4.5% 12- Avg $242,394 $246,379 +1.6% Historical Average List Price $300,000 $280,000 $260,000 $240,000 $220,000 $200,000 $180,000 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 9
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $203,442 $214,739 $217,166 $193,154 $197,399 $205,964 + 5.6% + 1.1% + 2.2% + 4.3% May $209,288 $217,442 +3.9% June $216,389 $227,907 +5.3% July $213,205 $219,867 +3.1% August $205,711 $213,846 +4.0% September $196,649 $205,463 +4.5% October $194,739 $204,284 +4.9% November $192,414 $204,906 +6.5% December $190,565 $205,567 +7.9% January $187,803 $188,783 +0.5% February $184,766 $194,858 +5.5% March $196,214 $216,335 +10.3% $214,739 $217,166 +1.1% 12- Avg $201,412 $210,608 +4.6% Historical Average Sales Price $250,000 $240,000 $230,000 $220,000 $210,000 $200,000 $190,000 $180,000 $170,000 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 10
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $153,000 $167,000 $159,990 $148,000 $151,500 $160,000 +4.6% +4.4% +2.4% +5.6% May $152,000 $165,000 +8.6% June $156,775 $171,250 +9.2% July $163,500 $165,800 +1.4% August $158,000 $163,000 +3.2% September $149,900 $160,000 +6.7% October $151,942 $157,000 +3.3% November $151,470 $160,000 +5.6% December $155,000 $158,925 +2.5% January $146,200 $150,000 +2.6% February $145,450 $151,000 +3.8% March $153,807 $168,000 +9.2% $159,990 $167,000 +4.4% 12- Med $154,000 $162,000 +5.2% Historical Median Sales Price $190,000 $180,000 $170,000 $160,000 $150,000 $140,000 $130,000 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 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. 88.9% 91.9% 93.6% 88.3% 91.1% 93.0% +3.4% +1.8% +3.2% +2.1% May 89.6% 92.2% +3.0% June 89.7% 92.7% +3.4% July 89.7% 92.5% +3.1% August 89.7% 92.4% +3.0% September 89.4% 91.9% +2.9% October 90.0% 92.3% +2.6% November 90.7% 92.2% +1.7% December 90.0% 92.3% +2.5% January 90.2% 92.6% +2.6% February 90.7% 92.6% +2.1% March 91.3% 93.0% +1.8% 91.9% 93.6% +1.8% 12- Avg 90.2% 92.5% +2.6% Historical Percent of Original List Price Received 100% 98% 96% 94% 92% 90% 88% 86% Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 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. 190 192 198 199 181 186 +4.8% +1.3% +6.6% +0.4% May 185 187 +1.4% June 182 183 +0.4% July 175 190 +8.2% August 185 192 +3.6% September 196 198 +1.2% October 192 200 +4.1% November 194 198 +1.9% December 191 200 +5.2% January 201 211 +4.8% February 204 205 +0.8% March 193 188-2.4% 190 192 +1.3% 12- Avg 191 195 +2.5% Historical Housing Affordability Index 220 200 180 160 140 120 100 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 14
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 24,220 20,108 14,053-17.0% -30.1% May 24,068 19,732-18.0% June 23,664 18,656-21.2% July 22,914 18,157-20.8% August 22,112 17,673-20.1% September 21,349 17,094-19.9% October 20,572 16,438-20.1% November 19,659 15,719-20.0% December 18,587 14,690-21.0% January 18,245 14,037-23.1% February 18,665 14,249-23.7% March 19,489 14,273-26.8% 20,108 14,053-30.1% 12- Avg 20,786 16,231-22.1% Historical Inventory of Homes for Sale 30,000 27,500 25,000 22,500 20,000 17,500 15,000 12,500 Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 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. 13.9 9.8 4.9-29.1% -49.7% May 13.6 9.3-31.9% June 13.2 8.3-36.6% July 12.6 7.9-37.2% August 11.9 7.6-36.4% September 11.4 7.2-36.5% October 10.8 6.8-37.5% November 10.3 6.4-37.6% December 9.6 5.9-38.6% January 9.3 5.5-40.9% February 9.3 5.4-41.9% March 9.7 5.2-45.8% 9.8 4.9-49.7% 12- Avg 11.0 6.7-38.8% Historical s Supply of Inventory 16 14 12 10 8 6 4 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Note: CarolinaMLS did not include showable under contract listings in the Pending Sales stats before July 2012. Listing agents report listings as Under Contract-Show earlier in the transaction. As a result, the new Pending Sales stats trend higher s Supply of Inventory stats trend lower since July 2012. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. as of May 5, 2013. All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR Association. Powered by 10K Research and Marketing. Click for Cover Page 16