End of the slow time

Friends,

Happy, joyous and prosperous New Year to you and your families!

January marks the start of the New Year and a new season in home sales.  Good thing, because December was SLOWWWWW!  5 homes went Under Contract.  See graph below...

Property Type: Single Family Status: Conditional Continue to Show Number of Properties: 5 # MLS # Type Area Address Subdivision BR FBths HBths Total HLA List Price DOM 1 2023762 Ranch 5 1600 Jameston DR Myers Park 3 2 0 1800 - 2200 $275,000 177 2 2041949 2 Story/Basement 5 2320 Roswell AVE Myers Park 4 2 1 2700 - 3300 $625,000 114 3 2053405 3 Story 5 1211 Lilac RD Myers Park 4 3 1 2800 - 3400 $725,000 42 4 2039228 2 Story 5 601 Moravian LN Myers Park 3 3 1 3500 - 4200 $925,000 129 5 2039650 3 Story 5 1226 Marlwood TER Myers Park 5 4 1 4500 - 5300 $995,000 125 Minimum 3 2 1   $275,000 42 Maximum 5 4 1   $995,000 177 Average 4 3 1   $709,000 117

(Sold by various members of the Carolina MLS).

Only 3 homes SOLD/closed in December (compared to 11 in 2010), with an average dollar-per-square-foot of $195 (compared to $216 a year ago), an average days on the market of 103 (102 a year ago), an an average ratio of closed price of 95% (compared with 91% a year ago).  I don't think you can infer too much from these numbers except that not many homes sell during the holidays!  See graph below...

Property Type: Single Family Status: Sold Number of Properties: 3 # MLS # Type Area Address Subdivision BR FBths HBths Total HLA List Price Sales Price SP/LP Sold Date DOM 1 2043548 Ranch / Basement 5 3014 Forest Park DR Myers Park 3 2 0 2065 $465,000 $440,000 0.946 12/02/2011 65 2 2046965 Ranch / Basement 5 1708 Maryland AVE Myers Park 3 3 0 2789 $625,000 $582,000 0.931 12/08/2011 49 3 2016915 1.5 Story 5 2845 Forest DR Myers Park 4 3 0 3386 $594,950 $585,000 0.983 12/21/2011 192 Minimum 3 2   2065 $465,000 $440,000 0.931   49 Maximum 4 3   3386 $625,000 $585,000 0.983   192 Average 3 3   2747 $561,650 $535,667 0.953   102 (Sold by various members of the Carolina MLS)

Despite these tame numbers, I sense a lot of pent-up interest and demand in the market - folks waiting for the right opportunity to arise.  And that means an attractive, clean, sharp, well-staged home that is priced realistically for current market conditions.  And everybody wants a deal.

There were 67 single family homes on the market in Myers Park at press time (a low number!), including 20 priced at $1,000,000 or more.

5 condos/townhomes went Under Contract in December.  See graphs below...

Property Type: Condo/Townhouse Status: Conditional Continue to Show Number of Properties: 1 # MLS # Type Area Complex Address Lot/Unit BR FBths HBths Style Parking Total HLA List Price DOM 1 2030526 Garden 5 Scotland Colony 1832 Jameston DR 1832 2 1 0 Traditional Street / Lot 600 - 800 $142,000 174 Minimum 2 1         $142,000 174 Maximum 2 1         $142,000 174 Average 2 1         $142,000 174 Property Type: Condo/Townhouse Status: Contingent Continue to Show Number of Properties: 1 # MLS # Type Area Complex Address Lot/Unit BR FBths HBths Style Parking Total HLA List Price DOM 1 2045867 Mid-Rise 5 Queens Six Two Six 626 Queens RD 301 3 2 1 Contemporary Parking Gar, 2 Parking Spaces 1800 - 2200 $450,000 90 Minimum 3 2 1       $450,000 90 Maximum 3 2 1       $450,000 90 Average 3 2 1       $450,000 90 Property Type: Condo/Townhouse Status: Pending Number of Properties: 3 # MLS # Type Area Complex Address Lot/Unit BR FBths HBths Style Parking Total HLA List Price DOM 1 2005275 Mid-Rise 5 400 Queens 400 Queens RD D5 1 1 0 Traditional Other 600 - 900 $79,900 253 2 2031986 2 Story 5 Hillside East 1088 Hollyheath LN Unit 53 4 3 1 Colonial 1 Car Garage 1700 - 2100 $297,900 146 3 2049967 Mid-Rise 5 The Croydon 2223 Croydon RD #201 3 3 1   Garage Door Opener, Keypad Entry, Other 2700 - 3200 $919,000 32 Minimum 1 1 1       $79,900 32 Maximum 4 3 1       $919,000 253 Average 3 2 1       $432,267 144 (Sold by various members of the Carolina MLS).

7 condos/townhomes SOLD/closed in December (compared with 2 a year ago).  See graph below...

Property Type: Condo/Townhouse Status: Sold Number of Properties: 7 # MLS # Type Area Complex Address Lot/Unit DOM Br FBths HBths Style Parking Total HLA List Price Sales Price SP/LP Sold Date 1 2040830 3 Story 5 Queens Station 232 Queens RD 49 90 2 2 0   1 Parking Space 1019 $180,000 $162,000 0.9 12/20/2011 2 990889 3 Story 5 Oakmore at Selwyn 2715 Selwyn AVE 36 333 2 2 0 Craftsman 2 Parking Spaces 1030 $179,000 $164,000 0.916 12/15/2011 3 2013277 2 Story 5 Hillside East 1159 Hollyheath LN L27 217 3 2 1   1 Car Garage, 1 Parking Space, Attached 1948 $255,000 $246,000 0.965 11/29/2011 4 2051255 High-Rise 5 The Carlton 1530 Queens RD 202 2 2 2 0 Traditional 1 Car Carport, 1 Parking Space 1567 $359,900 $338,000 0.939 12/22/2011 5 2046889 3 Story 5 The Selwyn 2615 Selwyn AVE 205 65 3 2 1 French Provincial 2 Parking Spaces, Garage Door Opener, Keypad Entry, Parking Gar 1851 $389,900 $354,000 0.908 12/23/2011 6 2045703 2 Story 5 Myers Park City Homes 1113 Kings DR - 57 4 3 1 Traditional 2 Car Garage 2890 $639,900 $600,000 0.938 12/15/2011 7 2036791 3 Story 5 2015 Queens Road West 2015 W Queens RD 0 102 4 3 1 Transitional 2 Car Garage, Attached, Garage Door Opener, Keypad Entry 4929 $795,000 $795,000 1.0 12/01/2011 Minimum 2 2 2 1       $179,000 $162,000 0.9   Maximum 333 4 3 1       $795,000 $795,000 1.0   Average 124 3 2 1       $399,814 $379,857 0.9

(Sold by various members of the Carolina MLS).

There were 43 condos/townhomes on the market at press time.

Unofficially, 156 homes SOLD/closed in Myers Park in 2011 - 1 more than in 2010.  Whoo-hoo!  We beat last year!  Stay tuned for my 2011 Myers Park Real Estate Market Year in Review!

Make it a great one!

Robert

Robert Dulin

Robert@RobertDulin.com

704-661-3173