Union County NC Real Estate Market--January-March 2011
Union County NC Real Estate Market—January-March 2011
The single family real estate market in Union County NC showed a decline in median sales prices of 12.5% in the first quarter of 2011 compared with the median price in 2010. 399 homes sold from January through March of 2011. Days on market increased 14.8% over DOM in 2010.
Townhomes and condominiums showed greater erosion in median prices. First quarter 2011 prices dropped 21.8% from 2010 median prices. Sixteen townhomes sold during the quarter. Days on market increased slightly over 2010.
Single Family Homes
| Union County NC Single Family Homes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 |
| Median Sales Price | $217,000 | $195,000 | $200,000 | $175,000 |
| Number of Homes Sold | 2372 | 2089 | 1992 | 399 |
| Median Days on Market | 36 | 43 | 94 | 108 |
Source: Carolina Multiple Listing Service
Townhomes and Condominiums
| Union County NC Townhomes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 |
| Median Sales Price | $145,495 | $131,000 | $119,000 | $93,000 |
| Number of Homes Sold | 114 | 84 | 79 | 16 |
| Median Days on Market | 48 | 35 | 105 | 113 |
Source: Carolina Multiple Listing Service
Union County NC Small Town Price Changes from 2009, 2010 to First Quarter 2011
What about the small towns in Union County? Which ones saw price declines in the first quarter and which ones had price increases? The first quarter 2011 numbers show that Stallings and Marvin were the only towns where median prices increased. Marvin had the largest increase of 2.7%. The rest of the small towns had declines in their median prices. Monroe had the largest decrease followed by Waxhaw and Weddington.
Single Family Homes
| Area | 2009 to 2010 Change | Median 2010 Closed Price | Quarter 1 Year 2011 Median Closed Price | 2010 to 2011 Change |
| Union County | +2.5% | $200,000 | $175,000 | -12.5% |
| Wesley Chapel | +12.8% | $299,000 | $275,000 | -8% |
| Monroe | +4.9% | $128,000 | $105,000 | -17.9% |
| Stallings | +2.1% | $197,165 | $199,495 | +01.1% |
| Marvin | -0.5% | $570,000 | $585,804 | +2.7% |
| Waxhaw | -2% | $254,597 | $215,000 | -15.5% |
| Lake Park | -3.6% | $165,692 | $144,750 | -12.6% |
| Weddington | -5% | $475,000 | $410,000 | -13.6% |
| Indian Trail | -8.4% | $154,900 | $153,000 | -1.2% |
Source: Carolina Multiple Listing Service
Copyright 2011. Carol Fox. Allen Tate Realtors. *Union County NC Real Estate Market—January-March 2011*