Denver NC

The median sales price for homes in ZIP code 28037 in Denver from Dec 09 to Feb 10 was $258,500 based on 34 sales. Compared to the same period one year ago, the median sales price increased 29.9%, or $59,500, and the number of sales decreased 20.9%. Average price per square foot for homes in 28037 was $131, an increase of 0.8% compared to the same period last year.

There are currently 847 resale and new homes in ZIP code 28037 on Trulia, including 1 open house, as well as 17 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 28037 was $405,042 for the week ending Mar 17, which represents a decrease of 0.6%, or $2,641, compared to the prior week.

Sherrills Ford, NC

The median sales price for homes in Sherrills Ford NC for Dec 09 to Feb 10 was $166,112. This represents a decline of 61.5%, or $265,888, compared to the prior quarter and a decrease of 48.6% compared to the prior year. Sales prices have depreciated 12.6% over the last 5 years in Sherrills Ford.

The average listing price for Sherrills Ford homes for sale on Trulia was $567,403 for the week ending Mar 17, which represents an increase of 0.5%, or $2,638, compared to the prior week and a decline of 5.7%, or $34,031, compared to the week ending Feb 24. Average price per square foot for Sherrills Ford NC was $124, a decrease of 8.8% compared to the same period last year.

The Bluffs at Waterside Crossing - A Denver, NC Townhome Community

RISMEDIA, July 21, 2009-The U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service (MLS)-listed homes for the twelfth consecutive month. The number of single family homes and condos listed for sale according to MLS data decreased in June 2009 from May by 2.1%, bringing the total number of active listings in 28 major U.S. markets to 696,858, according to national real estate brokerage ZipRealty.

Additionally, ZipRealty tracked an increase in the median list price in the 28 markets to $270,440 in June from $270,027 in May. Despite the sequential increase the median list price still decreased 2.72 percent when compared to June 2008.

Other highlights from ZipRealty’s Housing Inventory Index, compiled from local Multiple Listing Service (MLS) data, for June 2009 include:

-Las Vegas, Los Angeles and Phoenix all recorded a decline in inventory which may have contributed to some homes receiving multiple bids.
-Median list prices have flattened or increased in Las Vegas, Phoenix, San Francisco Bay Area and Los Angeles, pointing toward stabilization in those areas.
-While South Florida has substantially fewer homes for sale than last summer, housing inventory there is plentiful. For example, Miami has 27.1% more homes listed for sale compared to Los Angeles even though Miami has a significantly smaller population than Los Angeles.
-California is seeing the most dramatic inventory declines with massive year-over-year inventory reductions: Los Angeles saw a 53.9% decrease year-over-year while Bakersfield/Fresno tracked a 56.2% decrease.
-Several major metros that have been hit hardest by foreclosures had limited inventory in June 2009, which is at levels not seen or experienced in years.

“‘Affordability’ has been the buzz word in real estate this summer, and with a significant number of listed homes bank-owned, we’re seeing instances in some areas of banks dropping prices to generate more offers from buyers,” said ZipRealty President and CEO Patrick Lashinsky. “If the number of home listings continue declining and buyer interest and activity remains strong, we should see sales prices and home values increase as we head into the fall.”

Read more: http://rismedia.com/2009-07-20/signs-of-stability-housing-market-shows-12th-consecutive-monthly-decrease-in-number-of-listed-homes/#ixzz0LuNgxuI7

NAR: Existing-Home Sale Continue to Rise
Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the NATIONAL ASSOCIATION OF REALTORS ®. May’s increase was the first back-to-back monthly gain since September 2005.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.4 percent to a seasonally adjusted annual rate of 4.77 million units in May from a downwardly revised level of 4.66 million units in April. Sales remained 3.6 percent below the 4.95 million-unit pace in May 2008.

Lawrence Yun, NAR chief economist, expected an improvement in sales.

“Historically low mortgage interest rates clearly drew buyers into the market, and housing remains very affordable even with a recent uptick in rates,” Yun says. “First-time buyers also are being drawn off the sidelines by the $8,000 tax credit, which is helping to absorb inventory.

Poor Appraisals Stall Transactions

However, the increase in sales is less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”

Total housing inventory at the end of May fell 3.5 percent to 3.80 million existing homes available for sale, which represents a 9.6-month supply at the current sales pace, down from a 10.1-month supply in April.

Yun says the appraisal problem is serious.

“Lenders are using appraisers who may not be familiar with a neighborhood, or who compare traditional homes with distressed and discounted sales,” he says. “In the past month, stories of appraisal problems have been snowballing from across the country with many contracts falling through at the last moment. There is danger of a delayed housing market recovery and a further rise in foreclosures if the appraisal problems are not quickly corrected.”

NAR President Charles McMillan says appraisals and the tax credit are key issues.

“To maximize the potential for a housing recovery and subsequent economic recovery, we need realistic appraisals that are based on proper comparisons and done by a local specialist,” he said. “In addition, the first-time buyer tax credit should be expanded to all buyers of primary homes regardless of income. Extending the credit into 2010 would allow more time for the market to catch up with underlying demand, in part because many families with children, who normally time their purchase based on school year considerations, do not have enough time to move before the start of school in late August.
“Freeing a pent-up demand in housing will absorb inventory at a faster pace, strengthen communities and stabilize home prices earlier,” McMillan said.

A Closer Look at May Housing Data

An NAR practitioner survey in May showed first-time buyers accounted for 29 percent of transactions, and that the number of buyers looking at homes is nearly 10 percentage points higher than a year ago.

“This is the time of year when we see large increases in the number of repeat buyers, who are benefiting from sales to entry-level buyers,” Yun says. “Investors appear less active, but are more prevalent in areas with large price corrections.”

National median existing-home price: for all housing types was $173,000 in May, down 16.8 percent from a year earlier. Distressed properties, which declined to 33 percent of all sales in May from 45 percent in April, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

“The decline in the distressed sales share likely results from an increase of repeat buyers in May,” Yun says. “First-time buyers are concentrated in the lower price ranges, which include most of the distressed sales.”

Single-family home sales: rose 1.9 percent to a seasonally adjusted annual rate of 4.25 million in May from a pace of 4.17 million in April, but are 3 percent below the 4.38 million-unit level in May 2008. The median existing single-family home price was $172,900 in May, down 16.1 percent from a year ago.

Existing condominium and co-op sales: increased 6.1 percent to a seasonally adjusted annual rate of 520,000 units in May from 490,000 in April, but are 8.9 percent below the 571,000-unit level in May 2008. The median existing condo price was $173,800 in May, down 21.9 percent from a year earlier.

By the Region

Here’s how housing fared across the country for existing-home sales:

• Northeast: rose 3.9 percent to an annual level of 800,000 in May, but are 10.1 percent below a year ago. Median price: $243,600, which is 12.5 percent below May 2008.

• Midwest: jumped 9 percent in May to a pace of 1.09 million but are 4.4 percent below May 2008. Median price: $145,800, which is 10.4 percent lower than a year ago.

• South: unchanged at an annual pace of 1.74 million in May but are 8.9 percent below a year ago. Median price: $157,400, down 9.9 percent from May 2008.

• West: slipped 0.9 percent to an annual rate of 1.14 million in May, but are 11.8 percent higher than May 2008. Median price: $197,700, down 30.6 percent from a year ago.

Source: NAR

This data would include all of the Multiple Listing Services Area, such as Lincoln County, Catawba County, Mecklenburg County, Iredell County, Gaston County and a few more.

Pending Contracts:  April 2008 – 2,992    /    April 2009 – 2,269

New Listings:  April 2008 – 6,583    /    April 2009 – 5,050

Closed Homes Reported:  March 2008 - 2,659    /    March 2009 – 1,671

Mortgage Rates:  April 2008 – 6.03%    /    April 2009 – 4.78%

To See the Exact Information Provided by CMLS, Please CLICK HERE.

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Lincoln County Home Sales Statistics

I decided to take this a step further and look at the stats on our side of the Lake, so take a look at these.

Number of Homes Currently on the Market in Lincoln County:  821 Homes

Number of Homes Currently on the Market in Denver Only:  421 Homes

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7196 Catawba Springs Road - Listed at $135,000 - Available Immediately!

Denver Only Homes $1 – $150,000 Currently on the Market – Total – 30

Number of Homes $1 – $150,000 Currently Under Contract – Total – 6

Number of Homes $1 – $150,000 Sold Since 4/1/2009 – Total – 4

There is 6 Months of Inventory at the Rate these Homes are Selling Currently.

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1978 Clarence Chase lane - Listed at $249,900 - Available Immediately!

Denver Only Homes $150,000 – $250,000 Currently on the Market – Total – 54

Number of Homes $150,000 – $250,000 Currently Under Contract – Total – 13

Number of Homes $150,000 – $250,000 Sold Since 3/7/2009 – Total – 11

There is 4.5 Months of Inventory at the Rate these Homes are Selling Currently.

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7257 Drury Lane - Listed At $340,000 - Available Immediately!

Denver Only Homes $250,000 – $350,000 Currently on the Market – Total – 61

Number of Homes $250,000 – $350,000 Currently Under Contract – Total – 0

Number of Homes $250,000 – $350,000 Sold Since 3/7/2009 – Total – 5

There is 24.4 Months of Inventory at the Rate these Homes are Selling Currently.

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4050 Marydel Lane - Listed at $359,900 - Available Immediately!

Denver Only Homes $350,000 – $450,000 Currently on the Market – Total – 35

Number of Homes $350,000 – $450,000 Currently Under Contract – Total – 7

Number of Homes $350,000 – $450,000 Sold Since 3/7/2009 – Total – 7

There is 5 Months of Inventory at the Rate these Homes are Selling Currently.

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4189 Bordeaux Drive - Listed at $439,900 - Available Immediately!

Denver Only Homes $450,000 – $550,000 Currently on the Market – Total – 45

Number of Homes $450,000 – $550,000 Currently Under Contract – Total – 2

Number of Homes $450,000 – $550,000 Sold Since 3/7/2009 – Total – 2

There is 22.5 Months of Inventory at the Rate these Homes are Selling Currently.

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264 Thistle Glen Court - Listed at $649,900

Denver Only Homes $550,000 – $650,000 Currently on the Market – Total – 48

Number of Homes $550,000 – $650,000 Currently Under Contract – Total – 3

Number of Homes $550,000 – $650,000 Sold Since 3/7/2009 – Total – 1

There is 24 Months of Inventory at the Rate these Homes are Selling Currently.

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3642 Lakeshore Road South - Listed at $699,900 - Available Immediately!

Denver Only Homes $650,000 – $750,000 Currently on the Market – Total – 28

Number of Homes $650,000 – $750,000 Currently Under Contract – Total – 1

Number of Homes $650,000 – $750,000 Sold Since 3/7/2009 – Total – 1

There is 28 Months of Inventory at the Rate these Homes are Selling Currently.

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3746 George Court - Listed at $799,900

Denver Only Homes $750,000 – $850,000 Currently on the Market – Total – 23

Number of Homes $750,000 – $850,000 Currently Under Contract – Total – 0

Number of Homes $750,000 – $850,000 Sold Since 3/7/2009 – Total – 0

We are Unable to Calculate the Months of Inventory in this Price Range with No Solds.

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8011 Blue Water Court - Listed at $849,900

Denver Only Homes $850,000 – $950,000 Currently on the Market – Total – 12

Number of Homes $850,000 – $950,000 Currently Under Contract – Total – 2

Number of Homes $850,000 – $950,000 Sold Since 3/7/2009 – Total – 0

There is 12 Months of Inventory at the Rate these Homes are Selling Currently.

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Denver Only Homes $950,000 – $1,050,000 Currently on the Market – Total – 9

Number of Homes $950,000 – $1,050,000Currently Under Contract – Total – 0

Number of Homes $950,000 – $1,050,000Sold Since 3/7/2009 – Total – 1

There is 18 Months of Inventory at the Rate these Homes are Selling Currently.

1070 Shoreline Drive - Listed at $1,750,000

Number of Homes $1,050,000 and Above Currently Under Contract – Total – 0

Number of Homes $1,050,000 and Above Sold Since 3/7/2009 – Total – 0

We are Unable to Calculate the Months of Inventory in this Price Range with No Solds.

Number of Lots Currently  Under Contract – Total – 7

Number of Lots Sold Since 3/7/2009 – Total – 11

There is 123.3 Months of Inventory at the Rate these Homes are Selling Currently.

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Lot 15 Halyard in Norman Pointe - Listed at $109,900 - Available Immediately!

Number of Lots Currently on the Market in Denver Only:  572 Lots

Number of Lots Currently  Under Contract in Denver Only – Total – 3

Number of Lots Sold in Denver Since 3/7/2009 – Total – 7

There is 114.4 Months of Inventory at the Rate these Lots are Selling Currently.

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7936 Mariners Pointe Lane - Listed at $159,900

Number of Townhomes/Condos on the Market in Lincoln County:  20

Number of Townhomes/Condos Currently  Under Contract – Total – 5

Number Townhomes/Condos Sold Since 3/7/2009 – Total – 2

There is 5.7 Months of Inventory at the Rate these Townhomes/Condos are Selling Currently.

Well That Wraps it Up…I would say that we are still in a Buyer’s Market!  Don’t Shoot the Messenger!  Great Time to Buy!  Spring and Summer will Bring Good Things!

Don’t Forecast the NAR Forecasts a 1% Increase Over Last Year’s Sales!

*  54% of First Time Home Buyers are 25-34 years old

*  62% of New Home Buyers have No Children in the Home

*  Among the above referenced 62% without Children Living in the Home – 24% were Female and 12% were Male

*  #1 Concern for Buyers at 62% is the Quality of the Neighborhood

*  #2 Concern for Buyers at 52% was the Covenience of the Location to Work

*  Buyers primarily Purchase a Second Home between the Ages of 50 to 60