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According to Zillow.com(R) Q2 Home Value Report
Released : Monday, August 13, 2007 8:00 AM
Some other interesting findings from the national report include:
-- Highest-appreciating metropolitan areas (year-over-year):
-- Grand Junction, Colo. (18.6%)
-- Corvallis, Ore. (11.2%)
-- Charlotte-Gastonia-Rock Hill, NC-SC (9.0%)
-- Eugene-Springfield, Ore. (6.9%)
-- Spokane, Wash. (6.1%)
-- Seattle-Tacoma-Bremerton, Wash. (5.3%)
Charlotte Market Report
Charlotte Metrolina Market Satistics
These statistics are drawn from the Carolina MLS and reflect only what has been listed and sold thru the MLS board. The appreciation shows the ratio between the Average sale price at the end of the previous year and in the case of 2008, the average sale price for the first quarter of this year.
Totals of the Areas of Mecklenburg County seen below 2005 2006 2007 2008(1st 6 months)
# of New Listings 22,986 23,781 25,733 13,578
# of Sold Listings 15,344 16,327 14,360 5,101
Avg. List Price $241,497 $274,802 $293,859 $299,176
Avg. Sale Price $221,602 $232,239 $247,693 $246,652
1 year Apprciation 3.23% 4.80% 6.65% -0.42%(Up 3.52% since April 1, 2008)
% of Listings Sold 66.75% 68.66% 55.80% 37.57%(improved since April 1, 2008)
Avg. Days on Market 77 74 68 81
Most of the areas of Mecklenburg County, as you can see on the map above, are rather pie-shaped and extend from the I-277 beltway to the county line. On each area I will give you the approximate sides of the area.
Area 1 (between I-77 on the west to N. Tryon St(onto Hwy 29) on the Southeast)
2005 2006 2007 2008(1st 6 months)
# of New Listings 4448 4563 5124 2525
# of Sold Listings 3223 3261 2779 1035
Avg. List Price $202,025 $218,211 $234,745 $243,546
Avg. Sale Price $197,759 $207,857 $213,770 $211,957
1 year Apprciation 0.98% 5.11% 2.85% -0.85%
% of Listings Sold 72.46% 71.47% 54.23% 40.99% (improved)
Avg. Days on Market 84 74 72 91
Area 2 (between N. Tryon (Hwy 29) on the northwest and Albemarle Rd on the south)
2005 2006 2007 2008(1st 6 months)
# of New Listings 3614 3632 4023 1914
# of Sold Listings 2239 2387 2044 738
Avg. List Price $146,002 $162,727 $184,434 $189,293
Avg. Sale Price $141,804 $150,368 $160,545 $159,895
1 year Apprciation 7.40% 6.04% 6.77% -0.40% (Significant improvement)
% of Listings Sold 61.95% 65.72% 50.80% 38.56%
Avg. Days on Market 85 83 72 89
Area 3 (between Albemarle Rd. on the north and Independence Blvd on the southwest) Southeast Charlotte Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 2121 2071 2254 1160
# of Sold Listings 1313 1417 1352 410
Avg. List Price $161,007 $186,601 $213,765 $247,432
Avg. Sale Price $155,019 $165,168 $183,652 $187,625
1 year Apprciation 6,89% 6.55% 10.06% +2.16%
% of Listings Sold 61.90% 68.42% 59.98% 35.34%
Avg. Days on Market 92 81 69 94
Area 3 is one of the few areas that is still showing some appreciation. This is still the highest appreciation though it dropped slightly.
Area 4 (between Independence Blvd on the north east and Providence Rd on the west) Southeast Charlotte Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 2276 2220 2416 1428
# of Sold Listings 1643 1611 1385 471
Avg. List Price $315,848 $378,934 $410,155 $434,570
Avg. Sale Price $293,334 $320,361 $353,610 $351,780
1 year Apprciation 5.21% 9.21% 10.38% -0.52%
% of Listings Sold 72.19% 72.57% 57.33% 32.98%
Avg. Days on Market 68 61 54 69
Area 5 (between Providence Rd on the East and Park Rd and Lancaster Hwy on the west) South Charlotte Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 3568 4563 3793 2292
# of Sold Listings 2581 3261 2207 793
Avg. List Price $478,361 $557,879 $568,957 $607,320
Avg. Sale Price $410,105 $449,062 $490,082 $489,142
1 year Apprciation 9.36% 9.50% 9.13% -0.19% (Significant improvement.)
% of Listings Sold 72.34% 71.47% 58.19% 34.60%
Avg. Days on Market 68 56 57 71
Area 6 (between Park Rd and Lancaster Hwy on the east and I-77 on the west) South Charlotte report
2005 2006 2007 2008(1st 6 months)
# of New Listings 1240 1242 1266 792
# of Sold Listings 935 928 733 283
Avg. List Price $210,057 $259,247 $314,667 $338,398
Avg. Sale Price $196,159 $231,396 $269,313 $270,941
1 year Apprciation -2.36% 17.96% 16.39% +0.60% (2nd highest percentage)
% of Listings Sold 75.40% 74.72% 57.90% 35.73%
Avg. Days on Market 62 51 53 67
The average listing price is up but not as much as it was the first quarter. Area 6 appreciation is not as high as area 3 at this point and dropped since May's statistics.
Area 7 (I-77 and York Co on the southwest and Wilkinson Blvd on the north) Southwest Charlotte Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 1504 1827 1902 1036
# of Sold Listings 988 1226 1215 428
Avg. List Price $148,551 $166,589 $182,243sp $187,297
Avg. Sale Price $143,240 $160,148 $167,102 $161,333
1 year Apprciation 6.64% 11.80% 4.34% -3.45%
% of Listings Sold 65.69% 67.10% 63.88% 41.31%
Avg. Days on Market 77 68 65 86
Area 8(between Wilkinson Blvd. on the south and Brookshire Blvd on the north east)
2005 2006 2007 2008(1st 6 months)
# of New Listings 1819 2058 2118 1004
# of Sold Listings 862 1209 1138 402
Avg. List Price $109,174 $114,768 $120,778 $132,104
Avg. Sale Price $102,416 $109,624 $111,744 $106,219
1 year Apprciation 2.74% 7.04% 1.93% -4.94%(improvement)
% of Listings Sold 47.39% 58.75% 53.73% 40.04%
Avg. Days on Market 99 84 81 82
The average sale price is up since month, but unfortuneate this area is still shows the greatest depreciation from 2007 average sale price of the Mecklenburg County areas.
Area 9 (between Brookshire Blvd on the southwest and I-77 on the east but taking our an area around Mountain Lake)
2005 2006 2007 2008(1st 6 months)
# of New Listings 2379 2618 2817 1410
# of Sold Listings 1554 1764 1489 539
Avg. List Price $182,578 $191,774 $200,342 $211,390 (up from last month)
Avg. Sale Price $183,729 $185,501 $187.410 $185,817 (also up)
1 year Apprciation 9.04% 0.96% 1.03% -0.16%
% of Listings Sold 65.% 67.38% 52.86% 38.23%
Avg. Days on Market 86 72 68 86
(Area 9 has improved in all ways since the May figures)
Area 99 (the area inside the I-77 and I-277 beltway. This area have very few houses and is becoming more of a condo/townhome area)
2005 2006 2007 2008(1st 6 months)
# of New Listings 17 37 20 17
# of Sold Listings 6 12 18 2
Avg. List Price $461,347 $511,294 $508,504 $400,411
Avg. Sale Price $447,416 $463,229 $463,982 $524,000
1 year Apprciation 8.64% 3.53% 0.16% (2 houses sold does not give a true appreciation)
% of Listings Sold 35.39% 32.43% 90.00% 11.76%
Avg. Days on Market 50 110 96 86
The statistics in the center city as far as houses go are really to few to get any real picture. There are more condos/townhouses in the Uptown area than single family homes.
Area 10 - Union County Union County Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 5500 6215 7208 3743
# of Sold Listings 3831 4106 3541 1203
Avg. List Price $300,107 $333,073 $374,822 $389,346
Avg. Sale Price $262,001 $281,334 $296,770 $280,988
1 year Apprciation 8.66% 7.38% 5.49% -5.32%
% of Listings Sold 69.65% 66.07% 49.13% 32.14%
Avg. Days on Market 92 83 86 103
Area 15 - Lake Wylie The area around Lake Wylie in both NC and SC. Lake Wylie Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 705 868 1133 633
# of Sold Listings 483 529 516 169
Avg. List Price $473,685 $484,482 $552,213 $557,336
Avg. Sale Price $369,604 $446,276 $469,797 $456,426
1 year Apprciation 18.21% 20.74% 5.27% -2.93%
% of Listings Sold 68.51% 60.94% 45.54% 26.70%
Avg. Days on Market 107 96 109 134
Area 17 - York County York County Report
2005 2006 2007 2008(1st 6 months)
# of New Listings 2821 3097 3535 2059
# of Sold Listings 1826 2054 2071 826
Avg. List Price $207,303 $241,100 $267,203 $265,467
Avg. Sale Price $196,263 $207,738 $235,229 $234,173
1 year Apprciation 5.63% 5.85% 13.23% -0.45%
% of Listings Sold 64.73% 66.32% 58.59% 40.12%
Avg. Days on Market 101 89 90 97
York County is covered by both the Carolinas MLS (these statistics) and the Piedmont MLS based in Rock Hill. Most properties are listed on both boards, but not all. This could affect some of these statistics slightly.
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