Union County NC Real Estate Market--April-June 2011
Union County NC Real Estate Market—April-June 2011
The single family real estate market in Union County NC bounced back in the second quarter of 2011 with a 17.1% increase in the median sales price over the first quarter and a 2.5% increase over the median sales price in 2010. The number of homes sold in the second quarter was up 58.65 over the first quarter while median days on market decreased 25.9%.
The median sales price for townhomes and condominiums also increased. The second quarter median price was up 22.5% over the first quarter and only 4.2% off 2010 prices. Seventeen townhomes sold during the quarter. Days on market remained stable.
Single Family Homes
| Union County NC Single Family Homes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 | Quarter 2 Year 2011 |
| Median Sales Price | $217,000 | $195,000 | $200,000 | $175,000 | $205,000 |
| Number of Homes Sold | 2372 | 2089 | 1992 | 399 | 633 |
| Median Days on Market | 36 | 43 | 94 | 108 | 80 |
Source: Carolina Multiple Listing Service
Townhomes and Condominiums
| Union County NC Townhomes | Year 2008 | Year 2009 | Year 2010 | Quarter 1 Year 2011 | Quarter 2 Year 2011 |
| Median Sales Price | $145,495 | $131,000 | $119,000 | $93,000 | $114,000 |
| Number of Homes Sold | 114 | 84 | 79 | 16 | 17 |
| Median Days on Market | 48 | 35 | 105 | 113 | 112 |
Source: Carolina Multiple Listing Service
Union County NC Small Town Price Changes from 2009, 2010 to Second Quarter 2011
What about the small towns in Union County? Which ones saw price declines in the second quarter and which ones had price increases? The second quarter 2011 numbers show that Wesley Chapel and Indian Trail were the only towns where median prices increased. Wesley Chapel had the largest increase of 5.3%. The rest of the small towns had declines in their median prices. Lake Park had the largest decrease followed by Weddington and Monroe.
Single Family Homes
| Area | 2009 to 2010 Change | Median 2010 Closed Price | Quarter 2 Year 2011 Median Closed Price | 2010 to 2011 Change |
| Union County | +2.5% | $200,000 | $205,000 | +2.5% |
| Wesley Chapel | +12.8% | $299,000 | $315,000 | +5.3% |
| Monroe | +4.9% | $128,000 | $115,000 | -10.1% |
| Stallings | +2.1% | $197,165 | $194,000 | -1.6% |
| Marvin | -0.5% | $570,000 | $520,000 | -8.7% |
| Waxhaw | -2% | $254,597 | $246,567 | -3.1% |
| Lake Park | -3.6% | $165,692 | $135,000 | -18.5% |
| Weddington | -5% | $475,000 | $412,500 | -13.1% |
| Indian Trail | -8.4% | $154,900 | $157,000 | +1.3% |
Source: Carolina Multiple Listing Service
Copyright 2011. Carol Fox. Allen Tate Realtors. *Union County NC Real Estate Market—April-June 2011*