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Mint Hill NC Real Estate Market Report--Year 2011

Mint Hill NC Real Estate Market Report—Year 2011

 

How did the Mint NC real estate market fare during 2011 and how did 2011 market activity compare with the previous three years?

The tables below compare the Mint Hill NC real estate market for years 2008 through 2011. 155 single family homes and 13 townhomes closed in Mint Hill in 2011. The highest priced single family home sale was $607,500. The highest priced townhome sale was $190,000. Median days on the market decreased to 80 for single family homes and and increased to 117 for townhomes.

Single Family Homes in Mint Hill NC

The 2011 median sales price dropped 9.4% from 2010. It has tumbled 31.5% since 2008. The number of homes sold in 2011 was 11.9% lower than in 2010 but slightly higher than 2009.

Single Family Homes

Mint Hill Single Family Homes Year 2008 Year 2009 Year 2010 Year 2011
Median Sales Price $258,500 $218,495 $195,545 $177,000
Number of Homes Sold 194 152 176 155
Median Days on Market 26 41 103 80

Source: Carolina Multiple Listing Service

Townhomes and Condominiums in Mint Hill NC

The median townhome sales price continued to decline in 2011, dropping 7.9% below the 2010 median price. 27.7% fewer units sold in 2011.

Townhomes and Condominiums

Mint Hill Townhomes and Condos Year 2008 Year 2009 Year 2010 Year 2011
Median Sales Price $212,040 $213,495 $151,990 $139,900
Number of Homes Sold 5 4 18 13
Median Days on Market 30 131 94 117

Source: Carolina Multiple Listing Service

Types of Closed Sales in Mint Hill NC

Approximately 35% of all sales in 2011 were distressed sales, probably the cause of the depressed prices in Mint Hill. Resales were over 50% of the market with new construction accounting for 7% of sales.

Mint Hill Sales Types Number of Closed Sales Percentage of Closed Sales
Resale 97 57.5%
New Construction 12 7.1%
Foreclosure 48 28.5%
Short Sales 11 6.9%

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill—Year 2011

Click on each neighborhood below to get more information about the community and to see homes for sale.

Versage Grove Hall Heathergate Farmwood
Fairington Oaks Danbrooke Park Brighton Park Olde Sycamore

Copyright 2012. Carol Fox. Allen Tate Realtors. *Mint Hill NC Real Estate Market Report—Year 2011*


Posted: Tuesday, January 17, 2012 4:44 PM by Carol Fox

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