Charlotte North Carolina Market Update for:
Single Family Homes in Mecklenburg County North Carolina Area 2 including:
Charlotte Neighborhoods East of N. Tryon Street and North of Albermarle Road (24/27) including the neighborhoods of Plaza Midwood, NoDa (The Arts District), Belmont, McCarron, Old Stone Crossing, Buckleigh.
Map of all the neighborhoods covered in Area 2
Data gathered for September 1 - September 30, 2009
New Active Listings
In the month of September, 243 single family homes were added to the market of available inventory in east Charlotte; a 7.60% decline over September 2008.
Pending Homes
110 homes in east Charlotte (area 2) were placed under contract in September, which was a 2.8% increase over 2009 but a 36.78% decline over 2007.
Sold Units
Only 98 single family homes in east Charlotte closed during the month of September, 6.67% fewer than a year ago and 51% fewer than in 2006.
Average Sold Price
The average sold price of the homes that closed in east Charlotte in September was $118,807, 25.78% lower than from a year ago and 18.71% than in 2005. For the sales that closed from January to September, the average sales price $131,572.
Percentage of the Listing Price Received
Sellers received 91.33% of their original asking price; 89.72% when the seller concessions are taken into consideration. For the homes that closed in less than 99 days, sellers received 93.67% of their asking price and 88.31% for the homes that closed between 100 and 180 days. The homes that were on the market for more than 180 days yielded only 84.92% of the original asking price.
Average Days on Market
The average selling time for a home in east Charlotte during the month of September was 94 days. When compared to August, the homes that closed during September closed 9.62% quicker although it will take 30.56% longer than it did during September 2007.
Seller Concession
53% of the homes that closed in September offered a seller concession to the buyer averaging $3891. A seller concession can be anything from paying lender’s fees, HOA fees in advance, taxes, insurance, or even a country club membership.Sold Price as a Percentage of Tax Value
Of the 88 homes that had a tax value associated with the listing, 64.7% sold at or below the assessed property tax value. When taken as a whole, properties in area 2 sold at 101.58% of their tax value.
Buyer Financing
Of the homes that sold in September, 4 buyers used VA financing, 36 used FHA, 35 used Conventional Financing, 26 cash and 2 other.
Jonathan Osman
Charlotte Real Estate
Charlotte North Carolina Market Update for:
Real Estate Market Update for
Single Family Homes in Mecklenburg County North Carolina Area 9 including:
Abbington, Aberdeen Park, Americana Park, Avery Glen, Barkley, Barley Greens, Barrington, Beckett, Biddle Heights, Biddleville, Biltmore park, Birkdale, Braemar, Brasilia park, Brookfield, Brookline, Capps, Carrington Ridge, Carronbrige, Cashion Woods, Cedarfield, Chastain, Cindy Park, Claiborne Woods, Cradon Park, Crosswinds, Davis Meadows, Double Oaks, Douglas Park, Edmore Estates, Elizabeth Oaks, Firestone, Fox Chase, Fox Glenn, Gaitwood, Genesis Park, Gilead, Glenhaven, Glenwyck, Grass Meadows, Griers Grove, Hagers Ferry, Hambright Woods, Hamilton Village, Hawk Ridge, Hemby Woods, Henderson Park, Hunters Pointe, Huntington Forest, Hyde Park, Keeneland, Keener Creek, Lakeview Village, Lakewood, Latta Springs, Laurel Woods, Lawing Pond, Lea Woods, Lincold Heights, LInda Vista Place, Linden Estates, Macaulay, McCoy Crossing, McCrorey Heights, McIntyre, Melborne, Miranda, Northwood Estates, Oakdale, Oaklawn park, Oakview Commons, Peachtree, Pinebrook, Preston Village, Quail Ridge, Raven Ridge, Regency Park, Ridgemont, Riverview Acres, Rolling hills, Shelton Rige, Slater Ridge, Slater Springs, Stephens Grove, Stewarts Glen, Stillwell, Stone Hollow, Stonegate Farms, Stratford Forest, Sunset Oaks, Sunset Linda Vista, Sunset Village, Tanners Creek, Taylor Place, The Woodlands, Timberview, Torrence Crossing, Trinity Park, University Park, Villages at Rosedale, Walden Ridge, Walnut Creek, Washington Heights, Woodlands and Wynfield.
Map of all the neighborhoods covered in Area 9
Data gathered for September 1 - September 30, 2009
New Listings
During the month of September, 177 single family detached homes were listed for sale in North Charlotte, Cornelius, Davidson, and Huntersville (area 9); a 3.28% decline over 2008 and a 22.37% decline over 2007.
Pending Sales
91 homes were placed under contract during September, which was 12.35% greater than occurred in 2008. Compared to August, September's pending home sales were off only 6.19%.
Sold Listings
85 homes closed during the month of September, a gain of 23.19% over August and 10.39% over the previous September. When compared to September 2005, September's closed sales were down 43.71% from the four year high.
Average Sold Price
For September, the average sold price for a home in north Charlotte, Cornelius, Huntersville, and Davidson (area 9) was $159,870, down 2.68% from August and 6.91% from a year ago. The cumulative average sales price from January through September for area 9 is only 154,688, down 16% when compared to the 184,882 during the same period in 2008.
Days on Market
The average days on market for homes that closed during September in Huntersville, Davidson, Cornelius, and Charlotte was 87, down 17.92% from August but 3.57% from the year prior. It took the average seller 128.95% longer to sell their home this September than it did in September 2006.
Seller Concessions
42% of all the closed sales in September in area 9 recorded a seller concession, averaging $3,889. A seller concession can be anything from paying lender’s fees, HOA fees in advance, taxes, insurance, or even a country club membership. By comparison, only three of the homes that closed in September offered an agent bonus.
Tax Value as compared to Sold Price
52% of the sales in this area of Mecklenburg county closed at a sales price below the homes assessed tax value. Taken as a whole, the homes that closed during September closed at 100.51% of tax value.
Original Listing Price to Sold Price
Seller received 92.48% of their original listed price at closing, 91.33% when the seller concessions are figured in. For the homes that closed in less than 99 days, sellers received 95.10% of their original asking price while homes that were on the market for 100-180 days yielded only 89.82% of the original asking price. The sellers with homes on the market for greater than 180 days received only 87.61% of their original asking prices with one home, listed for 869 days, closing at 47.06% of asking price.
Buyer Financing
Of the closings that occurred in north Charlotte, Davidson, Huntersville, and Cornelius (area 9) in September, 34 used conventional financing, 24 FHA, and 20 paid cash, 1 Other and 3 VA.
Jonathan Osman
Charlotte Real Estate
Charlotte North Carolina Market Update for:
Single Family Homes in Mecklenburg County North Carolina Area 1 including:
Charlotte, Cornelius, Davidson, and Huntersville Neighborhoods East of I-77, North of N. Tryon Street, West of Cabarrus County, and South of Iredell County including the neighborhoods of Highland Creek, Vermillion, Heritage Green, River Run, Skybrook, Northstone, Cambridge Grove, and others.
Map of all the neighborhoods covered in Area 1
Data gathered for September 1 - September 30, 2009
New Listings
In September, 347 new single family detached homes were added to the inventory of available listings in north Charlotte. While September's new inventory were up 7.76% when compared to 2008 year over year, this September's new inventory was the second lowest since prior to 2005.
Pending Listings
159 homes were placed under contract in the month of September in north Charlotte, down 5.36% from 2008 and 38.37% from 2005.
Sold Listings
141 sellers found their way to the closing table during September, an 11.02% increase over August but a 4.73% decline over 2008 and a 37.89% over 2007.
Average Sold Price
The average sold price for single family detached homes in north Charlotte (area 1) during the month of September fell to $166,402, a decline of 28.07% over last September and the lowest average sales price in over 48 straight months.
Days on Market
Fewer sales during 2009 led to an increase in the average days on market for the homes that sold during September. Sellers were on the market for 101 days before receiving a contract, a 17.44% increase over the year prior and a 98% increase over 2006.
Seller Concessions
In 55% of the sales that closed during the month of September, the seller offered the buyer a concession averaging $4109. A seller concession can be anything from paying lender’s fees, HOA fees in advance, taxes, insurance, or even a country club membership. By comparison, only three of the homes that closed in September offered an agent bonus.
Buyer Financing
Of the 141 closings in northeast Charlotte in September, 48 used conventional financing, 64 FHA, and 22 paid cash, 6 used VA financing, and 3 utilized “other” forms of financing.
Tax Value as compared to Sold Price
76 of the sales that closed in north Charlotte (area 1) during the month of September closed either at or below the assessed tax value. Only 53 closed above the assessed tax value, averaging 98.55% for all of the closed sales during September. Only 12 out of the 141 closed homes did not have a tax value associated with their listing.
Original Listing Price to Sold Price
Sellers received 92.09% of their original asking price at closing. When the seller concessions are figured into the equation, the amount received was 90.75% of their original asking price. Sellers that received a contract in less than 99 days received 95.08% of their original asking price, while homes that sold between 100-180 days received only 87.47%. The 23 homes that sold in over 180 days only received 86% of their original asking price (84.21% with concessions).
Market Update for Matthews, Mint Hill, and Charlotte NC (MLS Area 3)
For all neighborhoods west of Independence Blvd and South of 24/27 in Mecklenburg County, including the towns of Mint Hill, Matthews, and Charlotte.
Map of all the neighborhoods covered in Area 3
Data gathered for September 1, 2009 - September 30, 2009 from the CMLS
Active Listings
September added 134 single family detached homes to the over market of inventory in Charlotte, Mint Hill, and Matthews area 3. September 2009's new inventory figures were 37.09% lower than in 2007 and 27.58 lower than in 2008.
Pending Units
Seventy eight single family homes received contract in Charlotte, Matthews, and Mint Hill (area 3) in September, which was a 8.24% decline over 2008 and and a 43.07% decline when compared to 2007.
Sold Units
Sixty-seven homes were sold in September, a 17.54% increase over the same time period in 2008. However, when compared to the same month sales from 2005- 2007, September 2009's sales were down an average of 43.76%
Average Sales Price
The average sales price for homes that sold in Charlotte, Mint Hill, and Matthews (area 3) during September was $165,398. September 2009's average sales price was the lowest since 2005 and 25.88% lower when compared to 2008.
Average Days on Market
The average days on the market for the single family detached homes increased 47.3% to 109 days. September's DOM was the highest in over five years.
Seller Concession
36 of the 67 closed sales in September offered the buyer a concession which averaged to $5,173. A seller concession can be anything from paying a lender’s closing costs, HOA fees in advance, taxes, insurance, or even a country club membership.
Sold Price as a Percentage of Tax Value
39% of of the homes that closed in September in Matthews, Mint Hill, and Charlotte (Area 3) sold at or below their assessed tax value. On average, homes sold at 124.65% of their assessed tax values.
Sales Price as a Percentage of Original List Price
On average, sellers received 92.28% of their original asking price or 90.5% when concessions are considered. Of the homes that closed in less than 99 days, the seller received 96.18% of their original asking price while homes that were on the market greater than 99 days received only 85.61%. Sellers of homes that were on the market for greater than 180 days received only 82.82% of their original asking price.
Buyer Financing
Of the homes that sold in September, 32 utilized an FHA loan, 19 obtained a Conventional mortgage, 3 VA, 1 used a financing program offered by the North Carolina Housing Finance Agency, 2 were other, and 8 cash.
Jonathan Osman
Charlotte Real Estate
Charlotte North Carolina Market Update for:
Single Family Homes in Mecklenburg County North Carolina Area 4 including:
Mecklenburg County North Carolina Area 4 including: Charlotte, Matthews. Neighborhoods West of Hwy 74, Independence Blvd. and East of Providence Road including, Grier Heights, Chantilly, Cotswold, Elizabeth, Eastover, Beverly Crest, Sardis Woods, High Timbers, Downtown Matthews, Lansdowne, Providence Plantation, and others.
Map of all the neighborhoods covered in Area 4
Data gathered for September 1, 2009 - September 30, 2009
New Listings
One hundred and ninety-two single family detached listings were added to the market in south Charlotte and Matthews during September. That was a 4.48% decline in the number of new active listings over the September the year prior. As of the date of this blog, the total inventory of active available single family detached properties in area 4 is 794
Pending Sales
Pending sales rose in September 13.11% from the year prior to 69 properties receiving and ratifying contracts. This was a same as in August, however a 36% drop from 2007 and a 56% decline since 2005.
Sold Listings
Single family detached home sales increased in September 5.97% from August and 7.58% from September '08 to finish the month with 71 closed sales. While a far cry from the sales volume from 2005-2007, it is an increase nonetheless over a tough 2008.
Days on Market
The average days on market for a home in Charlotte and Matthews area 4 for sales in September remained a flat 96 days over the year prior. September's sales had the second lowest average Days on Market since March, besting the summer months.
Seller Concessions
44% of the homes that closed in September offered a seller concession to the buyer as a part of the contract. The average concession amount was $4,138. A seller concession can be anything from paying a lender's closing costs, HOA fees in advance, taxes, insurance, or even a country club membership.
Tax Value as compared to Sold Price
Of the homes that closed in September in Charlotte and Matthews area 4, only 6 properties sold below their assessed tax value. On average, homes in area 4 sold at 135.11% of their tax value, with two selling over 200% of tax value. When adjusted out, the percentage drops to 124.59% of tax value.
Average Sold Price
In September, the average sales price for Charlotte area Matthews area 4 was $306,217, down 7.75% from the year prior and 15.12% lower than in 2007. The average sold price are still higher than in 2006 and 2005.
Percentage of Listed Price Received
On average, sellers received 91.42% of their original asking price. When concessions are included into the equation, sellers received 90.59% of their original asking price for the sales in September. For properties listed for fewer than 99 days, the percentage increases to 93.91% of asking price while older listings only averaged 86.86%. Bargain hunters must consider the older inventory on the market as sellers, whose homes were on the market for greater than 6 months, received only 81.64% of their original asking price.
Types of Sales
Of the 71 recorded sales in September, only 1 short sale listing closed as well as one home involved in a corporate relocation. The rest of the sales were between a seller or investor and buyer. Of the 794 active homes for sale in area 4 today, 7 are owned by relocation companies, 21 are bank owned, 25 are involved in a short sale, and 6 are owned in an estate.
Jonathan Osman
Charlotte Real Estate
Specializing in REO, HUD & Short Sale Homes in Charlotte, Matthews, Concord, Lake Norman and Wylie, Union County, and Fort Mill, Rock Hill South Carolina. Keller Williams Realty
Jonathan Osman, REALTOR, eAgent
Like the majority of people living in the Carolinas, I am not originally from Charlotte. I am a native of Washington, DC but grew up in the Maryland suburbs. I attended Liberty University to pursue a degree in Biblical Studies and while there met Tabitha...and as they say, the rest is history.
At the age of 20, I purchased my very first home and have bought and sold many since then. I love finding a deal that no one else has uncovered and matching up a unique property with the right buyer. As a result, I invest a lot of passion, knowledge, and experience in every one of my clients to aide them in making only the best decisions when it comes to purchasing one of life's largest investments.
Memberships and Awards
Tabitha Osman, Client Care Coordinator
We specialize in REO's, HUD, and Short Sale properties in the Charlotte area. This includes Matthews, Charlotte, Mint Hill, Indian Trail, Monroe, Weddington, Marvin, Waxhaw, Concord, Fort Mill, Rock Hill, Pineville, Gastonia, Belmont, Mt. Holly, and others surrounding areas.
Bradd and Megan G.
We have been so blessed to have "fallen" into such reliable hands during our first home buying experience. It's not everyday that you can feel completely confident in the huge decisions that we were making. Thank you so much for your guidance and patience.George S.
Jonathan treated me like a long time friend and was always available for me when needed. I have nothing but praise....on my treatment, and would be happy to deal with them in the future for other real estate transactionsGeorge and Chistine C.
I have bought and sold a lot of homes and I have not particularly liked the agents I have worked with. Jon changed my perspective. He is a knowledgable professional that I completely trust to handle all of my real estate needs.Kenyetta O.
He sold my home for $13,000 over my asking price in a matter of hours. I am very pleased.Paul and Tara M.
You have really impressed us with how much care you provided us here with our move. We will definately use you again and tell all of our friends.Adam & Jen Paper
I've known Mr. Osman for approximately 8 years and over the course of this time, I have sat at both ends of the table: as Jonathan's client and he as my client. As a client of his, I received the utmost attention at every stage of my home's sale, allowing maximum return on my investment while fostering a true sense of pride and accomplishment for both myself and the buyer. He was (and still is) The Consummate Professional. As my client, Mr. Osman was appreciative, responsive and extremely loyal; The Perfect Customer. Jonathan is one of those very rare people that are truly gifted in every area of life. He is a person of utmost integrity, extreme initiative, wonderful patience, enduring empathy, sincerity and tremendous creativity. I have been honored and grateful to have met his acquaintance so many years ago. My only regret was not talking him out of his decision to move out of our community. I cannot convey clearly enough -in these few sentences- how wonderful Mr. Osman has been as a vendor, a client, and as a friendCarole D
We asked Carole what we did well and she responded "Communication!! Marketing!!!!!!! Going outside the box to call buyers agents about the property (which got it sold!!) You also negotiated well. You listened to my situation and responded accordingly rather than providing the usual type of service (or lack thereof)!!!! "Dave Conord
Jonathan merges creativity and energy with compassion and integrity, resulting in a high success rate for his customers and a pleasaing transaction for all involved. His attention to detail and focus on results have attracted both buyers and sellers to hire Jonathan when it comes time to make a move. Jonathan's fresh approach to offering real estate services brings a higher level of service to our industry. It has always been a pleasure to work with Jonathan and I am glad to have him (and Tabitha) as friendsAngela Parker
Jonathan helped us find a home that was greater than our expectations and negotiated the asking price on our behalf successfully. He went out of his way to assist us with inspections, a fixed rate low interest mortgage and closing costs. I was on a business trip far far away while making the offer on the home, but Jonathan made sure I could review everything electronically, as well as sign the necessary contracts.
Overall, I couldn't have asked for a more helpful buyers agent and recommend him to anyone shopping for a new home. He was always available and willing to go out of his way (day or night-pacific or eastern time) to make purchasing our first home easy and stress free!!
Eric and Amber
When asked what we did well, they responded:
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