The University area of Charlotte is the area around the University of North Carolina Charlotte. Located in the northeastern end of Charlotte. A popular destination for young professionals and families. The area encompasses from Interstate 85 south to rocky river road and west to W.T. Harris Blvd and east to Cabarrus county line. All the homes in that area are within a five to ten minute ride of the Unviersity.
Below is a snapshot of the activity over the past three years in the area from June 1st through May 31st. This gives a good indication of where prices were and are going. As well it provides numbers of homes sold and days on market.
3 years ago there were 368 homes that sold for an average sale price of $170,024. They were on the market for an average of 46 days.
2 years ago there were 418 homes that sold for an average sale price of $145,566. They were on the market for an average of 79 days.
Last year there were 395 homes that sold for an average sale price of $139,058. They were on the market for an average of 98 days.
Currently there are 275 homes actively on the market right now. The average asking price of the homes on the market is $201,012 and they have been on the market for an average of 148 days.
There are 105 homes under contract right now that have not closed yet. The average asking price of thsoe homes was $135,644 and they were on the market for an average of 123 days.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Saturday, June 18, 2011
Friday, June 17, 2011
Market report June 2011: NoDa The Arts District Charlotte, NC.
NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conviently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area NoDa is a thriving area of Charlotte. below is the market trends over the past three years for the area from June 1st to May 31st.
3 years ago there were 48 homes that sold for an average sale price of $253,799. They were on the market for an average of 65 days.
2 years ago there were 36 homes that sold for an average of $236,233. they were on the market for an average of 125 days.
Last year there were 23 homes that sold for an average of $199,643. They were on the market for an average of 124 days.
Currently there are 31 homes actively listed on the marekt. Those homes on the market right now are on for an average of $246,642 and 145 days on the market.
There is also 8 homes currently under contract. Those homes were lsited for an average of $188,742 and were on the market for only 83 days.
Based on the what economists call a balanced market ( six months of inventory) the market still favors a buyer. However; an interesting trend is that homes that are priced correctly are selling almost twice as fast as homes that are not.
Dave diCecco
Realtor/Broker
www.davedicecco.com
3 years ago there were 48 homes that sold for an average sale price of $253,799. They were on the market for an average of 65 days.
2 years ago there were 36 homes that sold for an average of $236,233. they were on the market for an average of 125 days.
Last year there were 23 homes that sold for an average of $199,643. They were on the market for an average of 124 days.
Currently there are 31 homes actively listed on the marekt. Those homes on the market right now are on for an average of $246,642 and 145 days on the market.
There is also 8 homes currently under contract. Those homes were lsited for an average of $188,742 and were on the market for only 83 days.
Based on the what economists call a balanced market ( six months of inventory) the market still favors a buyer. However; an interesting trend is that homes that are priced correctly are selling almost twice as fast as homes that are not.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Wednesday, June 15, 2011
Where Do You Begin Your Home Search?
I hear a lot of first time buyers telling me I do not know where to start when looking for a home. I recommend that they find a Realtor that they are comfortable with first. There are many questions you are going to have when it comes to purchasing a home. Call and talk to Realtors until you find one that you are comfortable with.
A good Realtor should be asking you a lot of questions. It almost is like a reverse interview process. You want to make sure you find one that is a good fit for you. However; you need to be sure that they are asking you the right questions so that you can find and purchase the right home for you and your family.
I spend at a minimum of 30 minutes to an hour educating a buyer on the process involved and what they can expect from me as their realtor and what I ask of them. For me I believe it is an educational meeting. You need to let the buyer know exactly where you stand and what you can offer them and are willing to do
Recently I spoke to two different buyers who had previously spoken to other real Estate agents about purchasing their first home. I was shocked at the lack of information they received and one came right out and said that I asked and gave them more information in our 30 minute plus phone conversation than he received in the month and half he was dealing with the Realtor. Fortunately, the Realtor did not ask them to sign a buyers agency agreement with them.
The other one was told by the realtor that she could not get approved for a loan based on the information she provided him. Though the information was correct he never informed her to call a mortgage broker to see if she could qualify or what she needed to do to qualify for a mortgage. A brief conversation on the why it is important to talk to a mortgage broker and a phone call later I was e-mailed a pre-approval letter for her.
The key here is to know that you do this on average once every seven to eight years. We do this on a daily basis. Yes, you should be interviewing the Realtor to see if it’s a good fit but the Realtor should be education you as to the process and expectations in buying a home.
Dave diCecco
Realtor/Broker
www.davedicecco.com
A good Realtor should be asking you a lot of questions. It almost is like a reverse interview process. You want to make sure you find one that is a good fit for you. However; you need to be sure that they are asking you the right questions so that you can find and purchase the right home for you and your family.
I spend at a minimum of 30 minutes to an hour educating a buyer on the process involved and what they can expect from me as their realtor and what I ask of them. For me I believe it is an educational meeting. You need to let the buyer know exactly where you stand and what you can offer them and are willing to do
Recently I spoke to two different buyers who had previously spoken to other real Estate agents about purchasing their first home. I was shocked at the lack of information they received and one came right out and said that I asked and gave them more information in our 30 minute plus phone conversation than he received in the month and half he was dealing with the Realtor. Fortunately, the Realtor did not ask them to sign a buyers agency agreement with them.
The other one was told by the realtor that she could not get approved for a loan based on the information she provided him. Though the information was correct he never informed her to call a mortgage broker to see if she could qualify or what she needed to do to qualify for a mortgage. A brief conversation on the why it is important to talk to a mortgage broker and a phone call later I was e-mailed a pre-approval letter for her.
The key here is to know that you do this on average once every seven to eight years. We do this on a daily basis. Yes, you should be interviewing the Realtor to see if it’s a good fit but the Realtor should be education you as to the process and expectations in buying a home.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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