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CHARLES G. GRAHAM, AIA,
LAI, MIRM
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Charlotte Real Estate
Market Report
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| CHARLOTTE
MARKET |
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| Key
Measures |
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| 4Q07
vs. 4Q06 |
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| Twelve
Months Ending 4Q07 vs.4Q06 |
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Year |
Year |
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Ending |
Ending |
2007 - 2006 |
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4Q07 |
4Q06 |
4Q07 |
4Q06 |
4Q |
Year |
| SINGLE
FAMILY LOTS |
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| Number
of Closings |
4660 |
6741 |
23968 |
27992 |
0.69 |
0.86 |
| Median
Lot Price |
$45,600 |
$37,000 |
$42,900 |
$36,720 |
1.23 |
1.17 |
| Median
Lot/Package Ratio |
19.32 |
16.23 |
18.26 |
17.20 |
1.19 |
1.06 |
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| PERMITS |
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| Condominium |
482 |
855 |
1119 |
1716 |
0.56 |
0.65 |
| Townhouse |
567 |
720 |
2816 |
3402 |
0.79 |
0.83 |
| Subtotal |
1049 |
1575 |
3935 |
5118 |
0.67 |
0.77 |
| Single
Family |
2638 |
4571 |
17204 |
21952 |
0.58 |
0.78 |
| TOTAL |
3687 |
6146 |
21139 |
27070 |
0.60 |
0.78 |
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| NEW
CLOSINGS |
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| Condominium |
612 |
462 |
1737 |
2017 |
1.32 |
0.86 |
| Townhouse |
689 |
775 |
2493 |
2837 |
0.89 |
0.88 |
| Subtotal |
1301 |
1237 |
4230 |
4854 |
1.05 |
0.87 |
| Single
Family |
4122 |
5136 |
17474 |
19950 |
0.80 |
0.88 |
| TOTAL |
5423 |
6373 |
21704 |
24804 |
0.85 |
0.88 |
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| MEDIAN
NEW CLOSING PRICES |
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| Condominium |
$244,000 |
$190,000 |
$219,500 |
$193,000 |
1.28 |
1.14 |
| Townhouse |
$181,000 |
$151,000 |
$179,000 |
$146,740 |
1.20 |
1.22 |
| Single
Family |
$236,000 |
$228,000 |
$235,000 |
$213,500 |
1.04 |
1.10 |
| TOTAL |
$229,990 |
$213,500 |
$225,000 |
$201,990 |
1.08 |
1.11 |
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| RESALE
CLOSINGS |
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| Condominium |
532 |
635 |
2960 |
2786 |
0.84 |
1.06 |
| Townhouse |
281 |
394 |
1712 |
1706 |
0.71 |
1.00 |
| Subtotal |
813 |
1029 |
4672 |
4492 |
0.79 |
1.04 |
| Single
Famliy |
5713 |
7533 |
30888 |
32663 |
0.76 |
0.95 |
| TOTAL |
6526 |
8562 |
35560 |
37155 |
0.76 |
0.96 |
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| MEDIAN
RESALE CLOSING PRICES |
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| Condominium |
$145,000 |
$143,000 |
$134,000 |
$135,000 |
1.01 |
0.99 |
| Townhouse |
$127,500 |
$127,000 |
$129,000 |
$127,000 |
1.00 |
1.02 |
| Single
Family |
$160,000 |
$160,000 |
$166,000 |
$165,000 |
1.00 |
1.01 |
| TOTAL |
$157,000 |
$157,000 |
$160,000 |
$160,000 |
1.00 |
1.00 |
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| TOTAL
CLOSINGS |
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| Condominium |
1144 |
1097 |
4697 |
4803 |
1.04 |
0.98 |
| Townhouse |
970 |
1169 |
4205 |
4543 |
0.83 |
0.93 |
| Subtotal |
2114 |
2266 |
8902 |
9346 |
0.93 |
0.95 |
| Single
Family |
9835 |
12669 |
48362 |
52613 |
0.78 |
0.92 |
| TOTAL |
11949 |
14935 |
57264 |
61959 |
0.80 |
0.92 |
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| MEDIAN
TOTAL PRICES |
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| Condominium |
$210,000 |
$167,500 |
$167,000 |
$161,500 |
1.25 |
1.03 |
| Townhouse |
$157,500 |
$139,000 |
$150,000 |
$138,440 |
1.13 |
1.08 |
| Single
Family |
$195,000 |
$190,000 |
$192,000 |
$185,500 |
1.03 |
1.04 |
| TOTAL |
$192,000 |
$182,500 |
$186,500 |
$179,990 |
1.05 |
1.04 |
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