Carolinas Real Estate Talk

Union County NC Small Towns--Buyers or Sellers Market?

Buyers market or sellers market? This is the third in a series about the Union County NC real estate market. This post will examine the market in some of Union County’s small towns to see who has a stronger negotiating position: buyers or sellers?

In the first post, we looked at the Union County real estate market as a whole. The first step was to determine how many months of supply or market absorption rate the county had in the month of April 2012 as well as the previous three, six and twelve months. A look at supply in each quarter could help us spot trends over the past year.

We defined three types of markets as follows:

• Sellers Market Fewer than five month of supply
• Balanced Market Five to seven months of supply
• Buyers Market More than seven months of supply

We concluded that Union County as a whole has maintained an eight month supply of inventory over each quarter of the past year. This is defined as a buyers market.

Read more: Union County NC—Buyers Market or Sellers Market?

In the second post, we analyzed the Union County real estate market by price points to determine whether there were any price ranges where sellers had the advantage. We determined that sellers with homes priced under $200,000 were in a balanced market with 5.8 to 6.8 months of supply over the past year. Buyers had the advantage in the other price ranges with months of supply increasing as prices increased.

Read more: Union County NC Best Price Points for Buyers and Sellers

In this post, we look at the market absorption rate in some of the small towns in Union County. Where are the best places for buyers and where do sellers have the advantage? The table below shows the results of the analysis.

None of these small towns has a sellers market. Most of them have a buyers market like Union County as a whole. Indian Trail and Waxhaw have balanced markets currently with a six month supply of housing in Waxhaw and a five to six month supply in Indian Trail. Towns with the greatest housing inventory like Weddington, Marvin and Wesley Chapel also tend to have the higher priced homes. This is consistent with the results found in our study of the various price points in Union County.

Trends over the past year show some improvement in Stallings and Monroe but deterioration in some of the higher-priced towns where more sellers in the marketplace recently have apparently outpaced the number of buyers. Lake Park, a modestly priced town, has seen its market absorption rate decline over the past year.

Source: Carolina Multiple Listing Service

Copyright 2012. Carol Fox. Allen Tate Realtors *Union County NC Small Towns—Buyers or Sellers Market?*

Mint Hill NC Open House--13927 Jonathans Ridge Road on Sunday May 20

Jonathans Landing, Mint Hill  -  We invite everyone to visit our open house at 13927 Jonathans Ridge Road on May 20 from 2:00 AM to 4:00 AM.

Property information

Stevens Mill Area Neighborhoods in Stallings NC--2011 Market Update

The Stevens Mill area in Stallings NC is a great place to find a home whether you are looking for an affordable place, a full brick home, a generous lot with mature trees or a golf course community. Named after a family who operated a mill in the area, Stevens Mill lies along Stevens Mill Road between Idlewild Road and Lawyers Road. Idlewild and Lawyers Roads each have an interchange with I-485 within a mile of Stevens Mill Road so access to other parts of Charlotte to the north and south is very convenient. There are community shopping centers at Lawyers and at Idlewild with grocery stores, restaurants, a bank, a car wash and other service businesses.

2011 Market Update for Stevens Mill Area Neighborhoods

Except for Shannamara and Emerald Lake, the two golf course communities in the area, Stevens Mill neighborhoods are small without many sales each year. The 2011 real estate market will be described briefly below. Click on each neighborhood for a link to an article with more information about the neighborhood, its amenities, its builders, current homes for sale and the real estate market from previous years.

Fairfield Plantation

Fairfield Plantation was the first neighborhood built in the area. You’ll find affordable brick homes built in the 1970s in this community. You can also find new construction here as a builder recently began construction on available lots. The neighborhood includes a swimming pool and other amenities.

Source: Carolina Multiple Listing Service

Hunley Creek

Construction in Hunley Creek began in the 1980s. Lots in the neighborhood range from a third acre to a half acre in size. Many of the homes are colonial in style with hardboard siding. You can find ranches as well as two-story homes. Full-brick homes are also available. Hunley Creek residents have a swimming pool and clubhouse.

Source: Carolina Multiple Listing Service

Stevens Mill

Stevens Mill is a small neighborhood of primarily full-brick homes that was built in the early 1990s. Big lots with wide frontage allowed mature trees around the homes to remain. Both ranches and two-story homes are found in the neighborhood. Stevens Mill has a common area with a picnic shelter for residents.

Source: Carolina Multiple Listing Service

Willowbrook

Willowbrook is adjacent to and shares the community clubhouse and swimming pool with Hunley Creek. The neighborhood was built at the same time as Hunley Creek and Stevens Mill but offered larger homes with upgraded features. Most Willowbrook homes are full-brick homes. Large lots with trees and mature landscaping are characteristic of this community as well.

Source: Carolina Multiple Listing Service

Emerald Lake

Emerald Lake is one of the two golf course communities in the Stevens Mill area. Its homes are built around the Emerald Lake Golf Club, a semi-private course. The neighborhood was built in the 1990s up to the mid-2000s by several custom builders and one production builder. The homes have brick and stone exteriors and many are on the golf course. Residents have access to the swimming pool at the Golf Club but do not have to purchase a membership in the Golf Club.

Source: Carolina Multiple Listing Service

Shannamara

Shannamara is a large neighborhood of approximately 700 homes. Many of its homes are on The Divide golf course, a daily fee course. Like Emerald Lake, Shannamara was built from the 1990s until the mid-2000s by both production and custom builders. All of the homes have a brick front. Many are full brick. Shannamara is a great place to find a ranch-style home. Community amenities include two swimming pools, a clubhouse, tennis courts and a playground. There is a private lake with homes ringing it in the neighborhood.

Source: Carolina Multiple Listing Service

Want to know more about real estate and living in Stallings NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Stevens Mill Area Neighborhoods in Stallings NC—2011 Market Update*

Windrow--Neighborhood Information and Homes for Sale

Discover Windrow, one of Charlotte’s affordable equestrian neighborhoods.

Built in the 1970s and 1980s and designed to be an equestrian community, Windrow is a great Charlotte neighborhood to find larger lots and mature trees and landscaping. Windrow is located in Matthews, a small town on the southeastern edge of Charlotte. Loaded with small quiet neighborhoods and a historic downtown, Matthews offers a farmers market, a library, shopping and a variety of community festivals for Windrow residents.

The first section of Windrow to be built was Windrow Estates where equestrian trails wind through backyards. Farmhouse-style homes with big front porches are numerous in Windrow Estates. Residents of this section have access to community facilities, including a clubhouse and pools and a fishing lake.

Windrow II was the last section to be built in Windrow. Here the lots are only a half acre in size and residents don’t have access to the community facilities. There are no homeowners fees for Windrow II.

Windrow Homes for Sale

Click here to see Windrow homes for sale.

Want to know what your Windrow home is worth? Click here to receive a free market evaluation.

Windrow Real Estate Market

Five homes closed in Windrow in 2011. Three of those sales were foreclosures causing the 2011 median sales price to be dramatically lower than previous years.

Source: Carolina Multiple Listing Service

Source: Carolina Multiple Listing Service

Windrow Community Features

Location: Between Idlewild and Phillips Roads near Highway 51. Town of Matthews NC. Mecklenburg County NC. Zip Code 28105.

Builders: Squires Homes

Community Amenities: Windrow Homeowners Association, walking trails and common areas, clubhouse, two swimming pools, playground, fishing lake, equestrian trails.

Schools: Bain Elementary, Mint Hill Middle, Butler High. School assignments are subject to change. Check with the Charlotte-Mecklenburg Public Schools for current assignments.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Windrow—Neighborhood Information and Homes for Sale*

Matthews NC History Takes Center Stage This Saturday

Downtown Matthews NC will host the second annual Discover Matthews event on Saturday, May 12, 2012. Discover Matthews celebrates the town’s history and heritage with a series of activities from 10am to 4pm.

Matthews has been very successful in preserving buildings and homes that showcase its heritage. Its historic downtown appeals to those who visit or want to live in a small town that reminds them of simpler times. Charming buildings with restaurants and other enterprises give the immensely walkable downtown a friendly feel and provide a wonderful backdrop for the many community festivals throughout the year.

What can you discover about Matthews’ heritage on Saturday?

• Visit the old Seaboard Railroad Depot to see artifacts from the days when Matthews was an important railroad hub for the surrounding community.
• Trace your roots at the Matthews Library’s Genealogy Day.
• Learn about the future Matthews Heritage Museum at the Massey-Clark House.
• Visit the Nancy Reid house to learn about the Matthews Historical Foundation.
• Enjoy musical presentations at the Matthews Gazebo outside town hall.
• Take a walking tour of historic downtown Matthews.
• Enjoy an old-fashioned Strawberry Social at the Nancy Reid house.

Read more about historic homes and buildings in Matthews.

Nancy Reid House
Historic Homes in Matthews
BD Funderburk House
Matthews Community Center

Want to know more about real estate and living in Matthews NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Matthews NC History Takes Center Stage This Saturday*

Union County NC Best Price Points for Buyers and Sellers

The Union County NC real estate market is in a buyers market with approximately eight months of inventory on the market. This market absorption rate has held steady for the past year. Click here to learn more about how the market absorption rate for Union County was calculated.

What is the market absorption rate for various price ranges within the Union County real estate market? Is it possible to find price points where sellers have more strength in negotiating offers and selling their homes? Let’s analyze the Union County market by price range and see whether buyers or sellers are stronger.

Remember that a sellers market has less than 5 months of supply, a balanced market has 5 to 7 months of supply and a buyers market has more than 7 months of supply.

Best Union County NC Price Points for Buyers and Sellers

The table below shows that Union County sellers priced below $200,000 are in a balanced market with supply in the six month range. The trend over the past six months appears to favor sellers as months of supply has been dropping.

The market swings to favor home buyers above $200,000. Between $200,000 and $500,000, there are nine months of supply. In this price point, months of supply has dropped slightly over the last six months. Buyers in the $500,000 to $750,000 are in a very strong buyers market with the trend turning upward from a little over 9 months of supply a year ago to almost two years of supply currently. Perhaps greater activity in the spring of 2012 has encouraged more sellers in this price point to put their homes on the market. The market above $750,000 is still a buyers market although trends show that it has improved recently.

Source: Carolina Multiple Listing Service

Want to know more about buying and selling real estate in Union County NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Union County NC Best Price Points for Buyers and Sellers*

Waxhaw NC Spring Fest Honors Mothers This Weekend

Mothers will be the guests of honor at the Spring Fest in downtown Waxhaw NC this weekend.

Because Waxhaw’s annual spring festival falls on Mother’s Day weekend this year, there will be special events for mom in addition to the arts and crafts show and children’s activities.

Here is a list of some of the activities that mothers can enjoy with their children.

• Princess Tea Party for mothers and daughters. May 12 10-11am Cost $5 per person
• Mother and Son Ice Cream Social May 12 1-2pm Cost $5 per person
• Free gift making for mom (Mother’s Day card and paper flower bouquet) May 12 2:30-5:30pm
• Mommy Makeover Contest
• Fashion Show May 13 2-3:30pm

Everyone can enjoy the musical entertainment throughout the weekend. Children will be treated to entertainment from a clown, a musician, a pirate and the hula hoop lady. They can also spend time at the pony rides and the petting zoo.

The 70 degree weather will be perfect for this festival that fills the main street in historic downtown Waxhaw. Restaurants and shops will be open and the sidewalks of this pretty town will be a great place to meet friends and neighbors. Proceeds from ticket sales for the special events benefit the Museum of the Waxhaws.

Click here to learn more about the Waxhaw NC lifestyle.

Want to know more about real estate and living in Waxhaw NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Waxhaw NC Spring Fest Honors Mothers This Weekend*

Union County NC--Buyers Market or Sellers Market?

Question: Is the real estate market in Union County NC a buyers market or a sellers market?

Answer: It depends. Whether buyers control the market or sellers control the market depends on the location within the county and the price range. A market absorption analysis will tell us how many months of inventory are available for purchase. We can look at trends for the past month, past three months, past six months and a full year to see if the market is changing.

Defining A Buyers Market and a Sellers Market

Generally, local real estate markets are defined as a buyers market, a balanced market and a sellers market. Months of supply on the market will determine which category the market falls into. Here are accepted definitions:

• Sellers Market Fewer than five month of supply
• Balanced Market Five to seven months of supply
• Buyers Market More than seven month of supply

Union County Real Estate Market April 2011-April 2012

Source: Carolina Multiple Listing Service

The table shows that Union County’s market absorption rate has remained steady over the past year at eight months of supply. This means that the Union County real estate market as a whole can be defined as a buyers market. What this means for Union County buyers and sellers is that buyers may have a stronger negotiating position when they purchase and sellers may have to give ground on pricing and concessions.

Future posts will analyze different price points within Union County’s real estate market as well as markets within its small towns.

Want to know more about buying or selling real estate in Union County NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Union County NC—Buyers Market or Sellers Market?*

Barrington--Neighborhood Information and Homes for Sale

Discover Barrington, an all brick neighborhood in one of Charlotte’s quaint small towns.

Barrington is located in Waxhaw NC, one of Charlotte’s historic small towns in the southern part of the region. The neighborhood is set among the horse farms, rolling hills and grand estates located along Providence Road and Bonds Grove Road in Union County. Quaint downtown Waxhaw is a short drive away where antiques and art shops, a farmers market, restaurants and community festivals provide lively meeting places for town residents. South Charlotte’s amenities and access to I-485 are just ten to fifteen minutes away.

Barrington is a great neighborhood to find an all brick home at a reasonable price. Construction began in the neighborhood in 2006. Today the neighborhood is nearing completion. Pricing ranges into the mid-$300,000s for homes just under 3000 square feet to over 4000 square feet.

Barrington residents can enjoy community amenities including two pools and walking trails. Highly-regarded public schools are nearby.

Barrington Homes for Sale

Click here to see Barrington homes for sale.

Want to know what your Barrington home is worth? Click here to receive a free market evaluation.

Barrington Real Estate Market

Thirteen homes closed in Barrington in 2011. Almost 85% of those sales were new construction.

Source: Carolina Multiple Listing Service

Source: Carolina Multiple Listing Service

Barrington Community Features

Location: Off Bonds Grove Church Road. Town of Waxhaw NC. Union County NC. Zip Code 28173.

Builders: Shea Homes

Community Amenities: Barrington Homeowners Association, walking trails and common areas, clubhouse, junior olympic pool, kiddie pool, playground.

Schools: Sandy Ridge Elementary, Marvin Ridge Middle, Marvin Ridge High. School assignments are subject to change. Check with the Union County Public Schools for current assignments.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Barrington—Neighborhood Information and Homes for Sale*

Mint Hill NC Scottish Heritage on Display at Highland Games

This weekend you can join the celebration of Mint Hill’s Scottish and Scots-Irish heritage at the 8th Annual Highland Games. The clans will gather at Mint Hill Park on Friday evening May 4th and Saturday May 5th. You can enjoy celtic musical entertainment, highland athletic events, border collie demonstrations, children’s activities and food. This year, there is no parking or entrance fee to attend the event.

Friday events at the 2012 Highland Games include two hours of musical entertainment starting at 7pm. At 9pm a torchlight ceremony marks the calling of the clans. The gates open on Saturday at 9am and the athletic competitions begin. Music and border collie demonstrations are offered throughout the day. The Parade of Tartans is at noon. Gates close on Saturday at 5pm.

I attended the games last year and thoroughly enjoyed the music and the interesting athletic events. Watching the Parade of Tartans with each of the clans dressed in their family colors was a lot of fun.

Click on the link below to see photographs of the 2011 Mint Hill Highland Games.

Mint Hill NC Highland Games

Want to know more about real estate and living in Mint Hill NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Mint Hill NC Scottish Heritage on Display at Highland Games*

Matthews NC Homes for Sale--1009 Jerry Lane

Custom Ranch with Upstairs Suite

• 3 bath, 3 bdrm ranch "Upstairs bonus/suite" - MLS® $315,000

Streamside of Matthews, Matthews  -  Discover this beautiful custom ranch home lovingly built with exquisite upgrades and attention to detail. You'll love the location in one of Matthews' mature wooded neighborhoods near the heart of its historic downtown.

A peaceful entry courtyard leads into a beautiful great room with stone fireplace, wood floors, bonus room overlook and a soaring cathedral ceiling with paddle fan. Arched openings to the formal dining room and beyond add character to the room.

Enjoy entertaining in the formal dining room that is separated from the great room by architectural columns. A tray ceiling and crown and chair rail with picture frame molding dress up this room.

The heart of the home is the kitchen with abundant cabinetry with pull-out drawers. Beautiful granite countertops and wood floors add warmth to this room. Stainless appliances include double ovens, a gas cooktop, a dishwasher and microwave.

Banks of windows in a bay fill the breakfast room with light. This room overlooking the backyard has plenty of space for a large table and extra furniture.

A sunroom offers more views of the wooded, private backyard. Outdoor living continues from this room to the patio outside. Wiring has been added at the back of the house for a future hot tub.

The main level master bedroom suite has French doors to a stamped concrete patio outside. In the master bath, double sinks are set into an adult height vanity with granite countertop. An alcove with columns and faux glass window holds a soaker tub with tile surround. A large walk-in tile shower with seat is adjacent to the tub.

Find versatile space upstairs where a bonus/loft room overlooks the great room. A second master suite upstairs could be a great place for a roommate, guests, or teens. This bedroom has a walk-in closet plus access to walk-in attic storage. You'll find the same quality upstairs as down in this home.

Property information

Mint Hill NC Real Estate Market Report--January-March 2012

Mint Hill NC Real Estate Market Report—January-March 2012

How did the Mint Hill NC real estate market fare during the first quarter of 2012 and how does it compare with previous years?

The tables below compare the Mint Hill NC real estate market during the first quarter of 2012 with years 2008 through 2011. 35 single family homes closed in Mint Hill during the first quarter of 2012. The highest priced single family home sale was $525,000. Median days on the market were 84 days. There were 11 townhome or condominium closings in Mint Hill during the quarter. All but one of these closings were in Brighton Park.

Single Family Homes in Mint Hill NC

The median price of first quarter 2012 closings dropped over 15% compared to 2011 and was 42.1%% lower than the median closed price in 2008. The rate of home sales during the quarter was lower than previous years with only 35 homes closed. Median days on market in the first quarter increased slightly from 2011.

Single Family Homes

Source: Carolina Multiple Listing Service

Types of Closed Sales in Mint Hill NC

Almost 40% of all single family sales in Mint Hill during the first quarter were distressed sales. The steep drop in median closed price is most likely due to the large number of distressed sales.

Source: Carolina Multiple Listing Service

Want to know more about real estate and living in Mint Hill NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Mint Hill NC Real Estate Market Report—January-March 2012*

Matthews NC Real Estate Market Report--January-March 2012

Matthews NC Real Estate Market Report—January-March 2012

How did the Matthews NC real estate market fare during the first quarter of 2012 and how does it compare with previous years?

The tables below compare the Matthews NC real estate market during the first quarter of 2012 with years 2008 through 2011. 30 single family homes closed in Matthews during the first quarter of 2012. The highest priced single family home sale was $388,500. Median days on the market were 120 days. There was one townhome or condominium closing in Matthews during the quarter.

Single Family Homes in Matthews NC

The median price of first quarter 2012 closings dropped over 13% compared to 2011 and was 19.1% lower than the median closed price in 2008. The rate of home sales during the quarter was lower than previous years with only 30 homes closed. Median days on market in the first quarter increased slightly from 2011.

Single Family Homes

Source: Carolina Multiple Listing Service

Types of Closed Sales in Matthews NC

Eighty percent of first quarter sales in Matthews were market resales.

Source: Carolina Multiple Listing Service

Want to know more about real estate and living in Matthews NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Matthews NC Real Estate Market Report—January-March 2012*

Union County NC Real Estate Market--January-March 2012

Union County NC Real Estate Market—January-March 2012

The median closed price of Union County NC single family homes declined 7.4% in the first quarter of 2012 compared with all of 2011. The townhome/condominium price was slightly higher in the first quarter than in 2011.

A total of 506 homes sold in January through March. Almost a third of these sales were distressed sales, which most likely accounted for the decline in single family prices. Median days on market declined for both single family homes and townhomes.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Source: Carolina Multiple Listing Service

Union County Types of Closed Sales

Source: Carolina Multiple Listing Service

Union County NC Small Town Price Changes from 2009 to 2011

What about the small towns in Union County? Which ones saw price declines in the first quarter of 2012 and which ones had price increases? Four towns, Wesley Chapel, ,Waxhaw, Lake Park and Indian Trail, saw price increases in 2011. These increases were hefty ranging from 8.9% to 12.6% with Wesley Chapel’s increase the largest.

Median prices declined in the rest of Union County’s small towns. Monroe and Stallings had the largest decreases of 22.7% and 15.7% respectively.

Single Family Homes

Source: Carolina Multiple Listing Service

Want to know more about real estate and living in Union County NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Union County NC Real Estate Market—January-March 2012*

Monroe NC Real Estate Market Report--January-March 2012

Monroe NC Real Estate Market Report—January-March 2012

How did the Monroe NC real estate market fare during the first quarter of 2012 and how does it compare with previous years?

The tables below compare the Monroe NC real estate market during the first quarter of 2012 with years 2008 through 2011. 69 single family homes closed in Monroe during the first quarter of 2012. The highest priced single family home sale was $294,000. Median days on the market were 78 days. There were two townhome or condominium closings in Monroe during the quarter.

Single Family Homes in Monroe NC

The median price of first quarter 2012 closings dropped almost 23% compared to 2011 and was 37.8% lower than the median closed price in 2008. Median days on market in the first quarter also declined from 2011.

Single Family Homes

Source: Carolina Multiple Listing Service

Types of Closed Sales in Monroe NC

Approximately 50% of first quarter sales in Monroe were distressed sales. This high volume of foreclosures and short sales was likely responsible for the large drop in the quarter’s median sales price.

Source: Carolina Multiple Listing Service

Want to know more about real estate and living in Monroe NC? Visit www.CarolinaSmallTownLiving.com.

Copyright 2012. Carol Fox. Allen Tate Realtors. *Monroe NC Real Estate Market Report—January-March 2012*