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Callonwood in Stallings NC--2010 Real Estate Market Update

Callonwood in Stallings NC—2010 Real Estate Market Update

Callonwood is one of the most popular neighborhoods in Stallings NC.  Located off Pleasant Plains Road just into Union County NC, the neighborhood is a few miles from historic downtown Matthews NC.  An interchange with I-485 nearby makes all of South Charlotte reasonably accessible.

Construction in Callonwood is nearly complete.  Orleans Builder is still building new homes in the $300,000+ price point.  Callonwood includes both single family homes and townhomes.  The neighborhood includes a beautiful pool amenity center, walking trails and playing fields.

How did the 2010 real estate market in Callonwood compare with the 2009 market in the neighborhood?  The table below shows median values for several characteristics of the marketplace.  The median single family closed price dropped 9.4% from 2010 to 2009.  The median square footage of homes closed in each year also dropped 13.8%.  These drops most likely reflect the fact that the high end builder in the neighborhood, Orleans, stopped building for a while.  Sellers who successfully sold their homes in Callonwood were on the market much longer in 2010.  Their list to sale ratio remained the similar at 96% and 97%.

The townhome market slowed dramatically in 2010 with only two homes closed versus seven in 2009.  Days on market for townhomes almost tripled in 2010.  Closed pricing dropped slightly.

Callonwood Real Estate Market Comparison

Single Family Homes

Callonwood
Market Update
Median Closed PriceMedian Home Square FootageMedian Days on MarketMedian List to Sale Ratio
Year 2009$240,00030004296%
Year 2010$217,25025847097%

Source:  Carolina Multiple Listing Service

Townhomes

Callonwood Market UpdateMedian Closed PriceMedian Home Square FootageMedian Days on MarketMedian List to Sale Ratio
Year 2009$142,90012716597%
Year 2010$139,850121416095%

Source:  Carolina Multiple Listing Service

The mix of closed sale types affects the real estate market in any neighborhood.  In 2010, Callonwood resale sellers were competing with new construction.  The table shows that only about 10% of closed sales were foreclosures and short sales.  The small percentage of foreclosures and short sales indicates a fairly healthy real estate market for Callonwood.

Callonwood Types of Closed Sales

Callonwood Sales TypesNumber of Closed SalesPercentage of Closed Sales
Resale1446.6%
New Construction1343.3%
Foreclosure26.6%
Short Sale13.5%

Source:  Carolina Multiple Listing Service

Read more about Callonwood, its community amenities, builders and public schools:  Callonwood in Stallings NC—Homes for Sale and Neighborhood Profile.

Callonwood Homes for Sale

Click here to see Callonwood homes for sale.

Ever wonder what your Callonwood home is worth?

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Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Callonwood in Stallings NC—2010 Real Estate Market Update*

Posted: Friday, January 07, 2011 6:04 PM by Carol Fox

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