Your Area's

MARKET UPDATE
CHARLOTTE, NC

· Current Real Estate Market Conditions for Single Family Homes

· Trends in Pricing
· Current Levels of Supply and Demand
· Value Metrics

· Report for the week of

July 05, 2010

· Presented by Walid Muhammad

Exit First Choice Realty
walidmREALTOR.com | walid@walidmrealtor.com
980.322.5757

Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
 City Overview Single Family Homes in

Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

This Week Real-Time Market Profile Trend

The median list price in CHARLOTTE, Median List Price $ 196,000 ±+
NC this week is $196,000. The 7018 Average List Price $ 311,846
properties have been on the market Asking Price Per Square Foot $ 94 ±+
for an average of 182 days. Average Days on Market (DoM) 182 ==

Inventory of Properties Listed 7018 ==

Most Expensive Listing $ 5,990,000

Inventory and days-on-market are Least Expensive Listing $ 13,900

climbing, while the Market Action Average Age of Listing 25

Index has been flat recently. The Percent of Properties with Price Decrease 44 %
trends point to a weakening market. Percent Relisted (reset DOM) 10 %
Percent Flip (price increased) 3%
Median House Size (sq ft) 2100
Median Lot Size 0.25 - 0.50 acre
Median Number of Bedrooms 3.0

Supply and Demand

Median Number of Bathrooms 2.5

Altos Research Value Statistics

The market has shown some Market Action Index Strong Buyer's 14.0 ±+
evidence of slowing recently. Both The Market Action Index answers the question "How's the Market?" By measuring
the current rate of sale versus the amount of the inventory. Index above 30
prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the
relatively unchanged in recent buyer.
weeks. Watch the Market Action
Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend
leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend

Characteristics per Quartile

Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

0.25 - 0.50
Top/First $ 539,950 3570 acre 4.0 3.5 15 1754 67 62 225 Most expensive 25% of properties

0.25 - 0.50
Upper/Second $ 249,982 2362 acre 4.0 2.5 18 1754 96 54 168 Upper-middle 25% of properties

0.25 - 0.50
Lower/Third $ 159,000 1890 acre 3.0 2.5 13 1755 99 66 162 Lower-middle 25% of properties

8,001 -
Bottom/Fourth $ 93,500 1417 10,000 sqft 3.0 2.0 24 1755 114 101 172 Least expensive 25% of properties

Page 2 of 6 Monday July 5, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Median Price
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of
this trend.

7-day Average 90-day Average

Quartile Prices
Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift
(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 6 Monday July 5, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Price per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been
reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from
these levels.

7-day Average 90-day Average

Inventory of Properties Listed for Sale

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market
Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

7-day Average 90-day Average

Page 4 of 6 Monday July 5, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Market Action Index

The CHARLOTTE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index
stands at 13.96. With several months of inventory available at the current sales rate, buyers should find ample choice.

90-day Average Buyers/Sellers Cutoff

Market Action Index per Quartile

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of
inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market
shifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group
changes.

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized
by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s
Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function
of the current rate of sale versus current inventory.

Page 5 of 6 Monday July 5, 2010

 Single Family Homes in
City Overview
Walid Muhammad GRI SFR | REALTOR | Broker | Exit First Choice Realty |
CHARLOTTE, NC

Days on Market
The properties have been on the market for an average of 182 days. Half of the listings have come newly on the market in the
past 112 or so days.

7-day Average 90-day Average

Days on Market per Quartile

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 6 of 6 Monday July 5, 2010