Walid Muhammad Market Update [SF] CHARLOTTE NC Aug 9

8/9/2019 Walid Muhammad Market Update [SF] CHARLOTTE NC Aug 9

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MARKET UPDATEYour Area's

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofAugust 09, 2010

Presented by Walid MuhammadExit First Choice RealtywalidmREALTOR.com | [email protected]

CHARLOTTE, N

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


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Median List Price

Median Lot Size

13.1

Percent Relisted (reset DOM)

2100

2.5

3 %

Median Number of Bathrooms

181

Inventory of Properties Listed

$ 93

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 190,000

43 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

11 %

Percent of Properties with Price Decrease

Strong Buyer's

+

+

==

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

16 963570

1662.5 13

3.0

138

172

3.0 1676

165

85

117

0.25 - 0.50acre

24

$ 155,000

137

73

1676

3.5

0.25 - 0.50acre

1122.5

14170.25 - 0.50

acre

1675

$ 90,700

4.0

220

0.25 - 0.50acre$ 247,900

4.0$ 525,000

18

141

2362

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.

Monday August 9, 2010

Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |

1675

1890

2.0

The median list price in CHARLOTTE,NC this week is $190,000. The 6702

properties have been on the marketfor an average of 181 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

CHARLOTTE,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

6702

$ 5,990,000

$ 12,500

$ 304,321

25

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Home


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City OverviewCHARLOTTE,


Median PriceDespite this week's down tic, the market seems to have paused around this plateau. The Market Action Index is a good leadingindicator for the durability of this shift.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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Market Action IndexThe CHARLOTTE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 13.12. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

changes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical functionof the current rate of sale versus current inventory.

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Single Family Hom


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Days on MarketThe properties have been on the market for an average of 181 days. Half of the listings have come newly on the market in thepast 119 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Single Family Hom

Walid Muhammad Market Update [SF] CHARLOTTE NC Aug 9

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