Welcome to the Scot Williams Realty blog.
Over the last several months we have started to note our sense that the Charlotte market had bottomed and was beginning to change course. The information provided here in, compiled from Carolina Multiple Listing Servivces, Inc. and the National Association of Realtors, give credence to those notes. The local market is on the mend and the recovery is starting. If you have been waiting, now is the time to buy.
2011 vs. 2010
New Listings -19.1% 72,362
Pending Sales +3.3% 38,667
Closed Sales +2.5% 40,276
Median Sales Price -1.6% $152,500
Average sales Price -3.5% $200,351
List to Close (days) +5.4% 152
Months’ Supply -27% 9.1
Pct. of Original price -0.6% 89.4%
Inventory of Homes -24.6% 17,581
Reported by the National Association of Realtors
(From Moody’s Analytics)
Existing home sales are expected to rise 12% in 2012
New home sales will soar 74%
New home starts will increase 37%
(From Fannie Mae’s December Housing Survey)
With mortgage rates at historic lows and housing affordability high, 71% of Americans say that now is a good time to buy, and an increasing number expect prices to rise in 2012.
Looking at these numbers, we only take pause in the increase in list to close of 152 days. Much of that period has be attributed to the deep ression that lingers, but some is thanks to an “uncomfortable” lending enviroment in which confusing credit demands and new regulation and/or enforcement has slowed funding.
Prepared for funding challenges, 2012 can be a great time to buy!
January 2012
