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Happy Fall to all, it feels like our normal September weather is just arriving. It was great to get the much needed rain from Matthew as well. Hopefully it didn't wash away any newly seeded lawns. It's great time to aerate and over seed if you haven't done so yet.
Below you will find both the September and August monthly stats for review. Inventory is still down and the market is relatively hot (some areas more so than others).
The days may be getting shorter, but it's not time to adjust your clocks just yet.
The end of daylight-saving time will fall on
Sunday, Nov. 6, at 2 a.m.
At that time clocks will "fall back" and change from 2 a.m. back to 1 a.m.
While some relish the idea of an "extra" hour of sleep, others dread the early night falls that standard time brings. However, the days have been getting shorter since the day after the summer solstice on June 20.
The big difference will be in the sunset times, which will shift back to near 5 p.m. after the change. Have a great October and safe Halloween!
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September Charlotte Market Update
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As anticipated at the outset of the year, demand has remained high through the first
three quarters of 2016, propping up sales and prices despite heavy reductions in
inventory and months of supply across the country. With rental prices and
employment opportunities in a consistent climb, year-over-year increases in home
buying are probable for the rest of the year but not guaranteed.
New Listings were up in the Charlotte region 2.6 percent to 4,494. Pending Sales
increased 18.3 percent to 3,899. Inventory shrank 22.1 percent to 11,045 units.
Prices moved higher as Median Sales Price was up 9.1 percent to $207,000.
Months Supply of Homes for Sale was down 28.6 percent to 3.0 months, indicating
that demand increased relative to supply. In general, today's demand is driven by three factor
s: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing i
nstead of listing, contributing to lower inventory. Recent studies have also shown
that short-term rentals are keeping a collection of homes off the market.
Stats from Charlotte Regional Realtor Association
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Sept
2015 |
Sept
2016 |
%Change |
| Homes for Sale |
14,174 |
11,045 |
-22.1 |
| Pending Sales |
3,296 |
3,899 |
+18.3 |
| Closed Sales |
3,721 |
3,839 |
+3.2 |
| Days to close |
72 |
54 |
-25.0 |
| Average Sales Price |
$239,232 |
$256,377 |
+7.2 |
| Months Supply of Homes |
4.2 |
3.0 |
-28.6 |
Based on information from the Carolina Multiple Listing Services, Inc. for the month of September 2015 & 2016 for the entire Carolina MLS area.
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August Charlotte Market Update
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Closed sales began to cool for much of the country last month, and conventional
wisdom indicates that year-over-year declines are going to be present for the
remainder of the year, given the low inventory situation in most markets. Demand is
certainly present and has created competitive situations that have kept prices up.
Rental prices are also up, which may lure more toward homeownership.
New Listings were up in the Charlotte region 7.3 percent to 5,027. Pending Sales
increased 23.2 percent to 4,525. Inventory shrank 22.7 percent to 11,150 units.
Prices moved higher as Median Sales Price was up 10.2 percent to $219,300.
Months Supply of Homes for Sale was down 30.2 percent to 3.0 months, indicating
that demand increased relative to supply.
As inventory continues to drop, the contradictions of today's market are evident.
Sellers should feel confident enough to list homes at fair prices and receive
meaningful offers in a healthy residential real estate and overall economic e
nvironment. However, there may be lingering worry over the availability of move-in
ready homes to replace what was sold. On a brighter note, building permits are
trending upward. That news should be weighed against the fact that the highest
level of activity is in multifamily rentals.
Stats from Charlotte Regional Realtor Association
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Aug
2015 |
Aug
2016 |
%Change |
| Homes for Sale |
14,420 |
11,150 |
-22.7 |
| Pending Sales |
3,674 |
4,525 |
+23.2 |
| Closed Sales |
3,814 |
4,209 |
+10.4 |
| Days on Market |
71 |
54 |
-23.9 |
| Average Sales Price |
$246,651 |
$271,567 |
+10.1 |
| Months Supply of Homes |
4.3 |
3.0 |
-30.2 |
Based on information from the Carolina Multiple Listing Services, Inc. for the month of August 2015 & 2016 for the entire Carolina MLS area.
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October is National Energy Awareness Month
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October is National Energy Awareness month-and an ideal time to consider taking steps to make your home more energy efficient. Here are a few ways to reduce energy usage without having to sacrifice indoor comfort.
Home energy audit
A great place to start is to conduct a home energy audit (also known as a home energy assessment). An audit can determine how much energy a property consumes while detecting problem areas to help establish methods for improvement.
A home performance contractor uses a variety of equipment during an audit, including a blower door depressurization fan to locate hidden air leaks, digital infrared cameras to find where heat is leaking into or out of a home, and testing devices for detecting the presence of carbon monoxide and other indoor air pollutants.
A state or local government energy or weatherization office can help identify a reputable company or organization that performs home energy audits. Also, the Residential Energy Services Network (Resnet.us) has a directory of local certified auditors.
Assess insulation
For maximum energy efficiency, a home should be properly insulated from the foundation to the roof. One of the most important areas is the attic. Conduct a thorough assessment to determine if there is adequate insulation or if existing insulation is damaged and needs to be replaced. If the insulation is level with or below floor joists, more should be added.
When adding insulation, the R-value is an essential factor. It measures the insulation's resistance to heat flow. Consult with a professional installer to decide what type of insulation works best for you.
Swap out bulbs
Save money by finding the right energy-efficient bulb for your home's rooms and spaces. Long-lasting LED (
light-emitting diode
) bulbs are perfect for stairwells and hallways; they are also ideal for high-use areas, such as kitchens and family rooms. For non-dimming lamps, CFLs (compact florescent bulbs) are ideal- except for children's rooms since CFLs release small amounts of mercury when they break. LEDs are better for outdoor spaces since CFLs take longer to brighten if the air is cold.
Above information is shared by Regions Bank
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One week to the NC Housing re-launch of their $15,000 Down Payment Assistance Program on October 17th.
There will be 3000 loans available. The details of the program will remain the same as they were before:
- Primary Residence Only (Conventional, FHA or VA financing)
- Buyers receive $15000 in down-payment assistance
- Assistance is in the form of a 5 year no interest loan, forgiven at 20% per year
- Max sales price $245,000
- Property must be in one of the following 5 approved counties: Cabarrus, Cumberland, Guilford, Johnston, and Mecklenburg
- Property cannot be new construction
- Homebuyer education required
- Income limit is $67,000 for a household of 2 or less & $77,000 for a household of 3 or more.
- Income for all wage earners must be included in the max income limit
- Standard 660 Home Advantage minimum credit score still applies
- Rates on the first mortgage are determined by NC Housing-Inquire within
- Mortgage Credit Certificate (MCC) can be used in conjunction with this program
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Referrals - win a free i-Pad
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For 2016 we will be tracking your referrals and at the end of the year give away an iPad to the client with the most referrals that result in a closed sales. Here are the rules for determining the winner.
- Transaction has to close within the calendar year of 2016 and be represented by a team member of The Guy Ward Group.
- If the referral is for a listing and seller also buys it counts as two transactions.
- Referral must be confirmed by new client and team member so we don't miscount.
- Spouse/Partners can combine their referrals.
- You cannot refer yourself but a self referral can be used as a tie breaker.
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Thank you for your business and Referrals
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Of course, nothing is
appreciated more than referrals
so if you know of anyone looking to buy or sell please keep us in mind! We would be delighted to assist in any way we can.
Sincerely,
RE/MAX Executive Realty
Charlotte, NC 28211
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1123 Turnbridge Road -- 4 BR, 2.1 BA
Price: $341,000 (2619 sqft)
Subdivision: Old Farm
→ More info
MLS # 3184960 | Under Contract - Show
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1101 Regency Drive -- 3 BR, 2 BA
Price: $312,000 (2117 sqft)
Subdivision: Stonehaven
→ More info
Guy Ward | MLS # 3179788 | Active
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8203 Prince George Road
4 BR, 3 BA (2787 sqft)
Subdivision: Olde Georgetown
Guy Ward | MLS # 3183817 |
SOLD
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1586 Old Friendship Road
Price: $395,500 (39.55 acres)
→ More info
Guy Ward | MLS # 3068361 | Active
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9908 W Shopton Road -- 4 BR, 3 BA
Price: $265,000 (2550 sqft)
Subdivision: None
→ More info
MLS # 3096283 | Under Contract
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4252 Woodglen Lane -- 3 BR, 2 BA
Price: $242,000 (1721 sqft)
Complex: Carmel Hollow
→ More info
MLS # 3217515 | Under Contract
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6681 Bunker Hill Circle -- 3 BR, 2.1 BA
Price: $204,900 (1806 sqft)
Complex: Olde Georgetowne
→ More info
MLS # 3217530 | Under Contract
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11725 Carmel Lakes Drive -- 3 BR, 2 BA
Price: $189,900 (1525 sqft)
Subdivision: Carmel Lakes
→ More info
MLS # 3210541 | Active
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6622 Bunker Hill Circle -- 3 BR, 2.1 BA
Price: $219,900 (1969 sqft)
Complex: Olde Georgetowne
→ More info
MLS # 3219994 | Under Contract
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16341 Raven Crest Drive -- 2 BR, 2 BA
Subdivision: Sun City Carolina Lakes
MLS # 3152644 |
SOLD
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7383 Laurel Valley Road -- 2 BR, 2.1 BA
Complex: The Mews at Laurel Valley
SOLD
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4922 Sunburst Lane -- 2 BR, 2.1 BA
Complex: Farmington Ridge
SOLD
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6826 Constitution Lane -- 3 BR, 2.2 BA
Complex: Olde Georgetowne
MLS # 3197354 |
SOLD
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