weekly market activity report

A RESEARCH TOOL PROVIDED BY THE CHARLOTTE REGIONAL REALTOR® ASSOCIATION

For Week Ending January 2, 2016 Quick Facts Data current as of January 11, 2016

- 27.6% + 5.3%

Metrics by Week234

Metrics by Month56789

101112

Percent of Original List Price Received

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of January 11, 2016.All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by ShowingTime 10K. | 1

Housing Affordability Index

List to CloseDays on Market Until Sale

Median Sales PriceAverage Sales Price

Optimism is in the air as we turn to face a new calendar year. As far as residential real estate goes, there is plenty to feel positive about. Buying and selling activity continued through the final months of 2015, and there's little reason to believe that trend will slow down during the first month of 2016. If anything, the past few years have indicated a tendency for listings and sales to increase in January.

In the Charlotte region, for the week ending January 2:

• New Listings decreased 27.6% to 396 • Pending Sales increased 5.3% to 440 • Inventory decreased 20.8% to 11,403

For the month of December:

• Median Sales Price increased 2.8% to $190,000 • List to Close decreased 7.0% to 119 • Percent of Original List Price Received increased 1.4% to 95.1% • Months Supply of Inventory decreased 32.6% to 3.1

Months Supply of Inventory

Cumulative Days on Market Until Sale

Weekly Market Activity Report

New ListingsPending SalesInventory of Homes for Sale

- 20.8%

Change in New Listings

Change in Pending Sales

Change in Inventory

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New Listings A count of the properties that have been newly listed on the market in a given week.

For theWeek Ending

Current Activity

One YearAgo

+ / –

10/10/2015 898 955 - 6.0%

10/17/2015 942 869 + 8.4%

10/24/2015 823 903 - 8.9%

10/31/2015 840 884 - 5.0%

11/7/2015 818 898 - 8.9%

11/14/2015 786 869 - 9.6%

11/21/2015 791 796 - 0.6%

11/28/2015 496 501 - 1.0%

12/5/2015 709 787 - 9.9%

12/12/2015 671 718 - 6.5%

12/19/2015 557 645 - 13.6%

12/26/2015 343 319 + 7.5%

1/2/2016 396 547 - 27.6%

3-Month Total 9,070 9,691 - 6.4%


300

400

500

600

700

800

900

1,000

1,100

10/10/15 10/17/15 10/24/15 10/31/15 11/7/15 11/14/15 11/21/15 11/28/15 12/5/15 12/12/15 12/19/15 12/26/15 1/2/16

Last Three Months Current Activity One Year Ago

100

300

500

700

900

1,100

1,300

1,500

1,700

1,900

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical New Listing Activity

Pending Sales

For theWeek Ending

Current Activity

One YearAgo

+ / –

10/10/2015 689 622 + 10.8%

10/17/2015 721 675 + 6.8%

10/24/2015 738 655 + 12.7%

10/31/2015 738 644 + 14.6%

11/7/2015 724 638 + 13.5%

11/14/2015 681 696 - 2.2%

11/21/2015 674 632 + 6.6%

11/28/2015 508 463 + 9.7%

12/5/2015 643 524 + 22.7%

12/12/2015 671 584 + 14.9%

12/19/2015 586 571 + 2.6%

12/26/2015 414 349 + 18.6%

1/2/2016 440 418 + 5.3%

3-Month Total 8,227 7,471 + 10.1%

All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by ShowingTime 10K. | 3

A count of the properties on which contracts have been accepted in a given week. Pending contracts include “Under Contract-Show” and “Under Contract-No Show” statuses.

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 and the new “Months Supply of Inventory” stats trend lower since July 2012. | Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of January 11, 2016.

300

400

500

600

700

800

900

10/10/15 10/17/15 10/24/15 10/31/15 11/7/15 11/14/15 11/21/15 11/28/15 12/5/15 12/12/15 12/19/15 12/26/15 1/2/16


100

300

500

700

900

1,100

1,300

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Pending Sales Activity

Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given week.

For theWeek Ending

Current Activity

One YearAgo

+ / –

10/10/2015 13,874 16,305 - 14.9%

10/17/2015 13,898 16,243 - 14.4%

10/24/2015 13,768 16,162 - 14.8%

10/31/2015 13,601 16,105 - 15.5%

11/7/2015 13,194 15,751 - 16.2%

11/14/2015 13,033 15,669 - 16.8%

11/21/2015 12,843 15,497 - 17.1%

11/28/2015 12,686 15,356 - 17.4%

12/5/2015 12,346 15,027 - 17.8%

12/12/2015 12,137 14,911 - 18.6%

12/19/2015 11,874 14,760 - 19.6%

12/26/2015 11,592 14,578 - 20.5%

1/2/2016 11,403 14,405 - 20.8%

3-Month Avg 12,788 15,444 - 17.2%


11,000

12,000

13,000

14,000

15,000

16,000

17,000

10/10/15 10/17/15 10/24/15 10/31/15 11/7/15 11/14/15 11/21/15 11/28/15 12/5/15 12/12/15 12/19/15 12/26/15 1/2/16


11,000

13,000

15,000

17,000

19,000

21,000

23,000

25,000

27,000

29,000

31,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Inventory Activity

List to Close“List to Close” provides the total number of days specific to the MLS number from “Listing Date” to “Sold Date.”

December MonthCurrent Activity

One Year Previous

+ / –

January 131 136 - 3.7%

February 131 136 - 3.7%

March 129 129 0.0%

April 118 132 - 10.6%

May 116 120 - 3.3%

June 113 119 - 5.0%

July 107 119 - 10.1%

August 108 119 - 9.2%

September 112 124 - 9.7%

October 113 122 - 7.4%

November 115 124 - 7.3%

December 119 128 - 7.0%

12-Month Avg 65 84 - 22.6%


100

110

120

130

140

150

160

170

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical List to Close

129 128119

2013 2014 2015

- 7.0%- 0.8%

Days on Market

MonthCurrent Activity

One Year Previous

+/-

January 77 103 - 25.2%

February 80 102 - 21.6%

March 78 100 - 22.0%

April 69 100 - 31.0%

May 67 80 - 16.3%

June 61 71 - 14.1%

July 58 69 - 15.9%

August 59 70 - 15.7%

September 61 73 - 16.4%

October 62 71 - 12.7%

November 61 71 - 14.1%

December 63 76 - 16.5%

12-Month Avg 65 84 - 22.6%


December

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.

40

50

60

70

80

90

100

110

120

130

140

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Days on Market

99

7663

2013 2014 2015

- 16.5%- 23.2%

Cumulative Days on Market

MonthCurrent Activity

One Year Previous

+/-

January 92 118 - 22.0%

February 98 117 - 16.2%

March 96 118 - 18.6%

April 85 127 - 33.1%

May 81 106 - 23.6%

June 73 92 - 20.7%

July 69 85 - 18.8%

August 71 86 - 17.4%

September 72 85 - 15.3%

October 73 86 - 15.1%

November 71 85 - 16.5%

December 74 92 - 19.3%

12-Month Avg 78 84 - 7.1%

December


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.

50

70

90

110

130

150

170

190

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Cumulative Days on Market

115

9274

2013 2014 2015

- 19.3%- 20.0%

Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.


One Year Previous

+ / –

January $166,500 $165,000 + 0.9%

February $178,000 $165,000 + 7.9%

March $191,000 $175,000 + 9.1%

April $190,000 $176,775 + 7.5%

May $200,000 $187,000 + 7.0%

June $208,163 $197,000 + 5.7%

July $200,000 $191,750 + 4.3%

August $199,000 $185,000 + 7.6%

September $189,000 $180,000 + 5.0%

October $185,000 $178,100 + 3.9%

November $195,000 $180,000 + 8.3%

December $190,000 $184,900 + 2.8%

12-Month Avg $192,500 $180,000 + 6.9%


$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Median Sales Price

$175,000 $184,900 $190,000

2013 2014 2015

+ 2.8%+ 5.7%

Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.


One Year Previous

+ / –

January $214,166 $214,806 - 0.3%

February $221,690 $208,380 + 6.4%

March $240,711 $217,275 + 10.8%

April $237,241 $224,519 + 5.7%

May $249,583 $235,936 + 5.8%

June $259,117 $258,515 + 0.2%

July $252,901 $242,068 + 4.5%

August $246,217 $240,061 + 2.6%

September $239,273 $226,990 + 5.4%

October $238,311 $227,689 + 4.7%

November $239,258 $227,444 + 5.2%

December $239,107 $233,242 + 2.5%

12-Month Avg $242,003 $230,830 + 4.8%


$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Average Sales Price

$228,338 $233,242 $239,107

2013 2014 2015

+ 2.5%+ 2.1%

Percent of Original List Price Received


One Year Previous

+ / –

January 93.3% 93.3% 0.0%

February 93.6% 92.6% + 1.1%

March 94.6% 93.4% + 1.3%

April 95.0% 94.0% + 1.1%

May 95.5% 94.7% + 0.8%

June 95.7% 94.9% + 0.8%

July 95.4% 94.5% + 1.0%

August 95.3% 94.7% + 0.6%

September 95.2% 94.2% + 1.1%

October 94.6% 93.7% + 1.0%

November 95.0% 94.0% + 1.1%

December 95.1% 93.8% + 1.4%

12-Month Avg 95.0% 94.0% + 1.1%


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.

86%

88%

90%

92%

94%

96%

98%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Percent of Original List Price Received

93.2% 93.8% 95.1%

2013 2014 2015

+ 1.4%+ 0.6%

Housing Affordability Index


One Year Previous

+ / –

January 187 175 + 6.8%

February 175 177 - 1.4%

March 161 168 - 4.0%

April 163 165 - 0.9%

May 156 160 - 2.9%

June 147 152 - 3.4%

July 151 156 - 3.4%

August 152 162 - 6.1%

September 162 165 - 1.8%

October 166 170 - 2.5%

November 156 168 - 7.1%

December 146 165 - 11.4%

12-Month Avg 160 165 - 3.1%


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.

120

140

160

180

200

220

240

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Housing Affordability Index

179165

146

2013 2014 2015

- 11.4%- 7.8%

Months 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.


One Year Previous

+ / –

January 4.4 5.3 - 17.0%

February 4.3 5.4 - 20.4%

March 4.4 5.6 - 21.4%

April 4.4 5.9 - 25.4%

May 4.4 6.1 - 27.9%

June 4.3 6.0 - 28.3%

July 4.3 5.9 - 27.1%

August 4.2 5.7 - 26.3%

September 4.1 5.5 - 25.5%

October 3.9 5.3 - 26.4%

November 3.6 5.0 - 28.0%

December 3.1 4.5 - 32.6%

12-Month Avg 4.1 5.6 - 26.8%

All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association. Powered by ShowingTime 10K. | 12

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 and the new “Months Supply of Inventory” stats trend lower since July 2012. | Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of January 11, 2016.

0

5

10

15

20

1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015

Historical Months Supply of Inventory

5.24.5

3.1

2013 2014 2015

- 32.6%- 13.5%

weekly market activity report

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