Real Estate Information Archive

What are sellers in Huntersville getting for there homes?

November 11, 2009

By Terri Latta

Latta Realty, Inc.

Almost every day someone ask me what sellers are getting for their homes.  I love that question because it is important to both buyers and sellers.

Buyers need this information to help them better understand what to offer for the home they want to buy.  Sellers need this same information to help them estimate the net figure they will receive after negotiating an offer.

The answer unfortunately is “it depends”.  It is something you have to keep a close eye on in a shifting market, like the one in which we currently live.

It also depends on supply and demand.  Right now, in most areas, the demand is at a lower price point because there are more buyers in that price range.

Suprisingly, when we compare the market in 2006, MLS reports the average list price for Huntersville (1/1/06 – 11/11/06) at $270,434 with average days on the market at 62.  1187 single family homes sold.

For the same time frame in 2007, MLS reports the average list price at $279,413 with 64 average days on the market.  1073 single family homes sold.

For the same time frame in 2008, MLS reports the average list price at $284,812 with 88 average days on the market.  701 single family homes sold.

For the same time frame in 2009, MLS reports the average list price at $256,867 with 110 days on the market.  529 single family homes sold.

So we see about half the homes have sold this year that sold in 2006, at about 5% less.

Here is the sales data for single family homes in Huntersville year to date:

□                   406 homes below $300,000 . . .. .  96% of asking price . . . . 100 DOM

□                   110 homes $300,000-500,000 . . .  95.5% of asking price . . .128 DOM

□                   5 homes $500,000-700,000 . . . .    92.5% of asking price . . . 237 DOM

□                   6 homes 500,000-1 million . . . . .    92% of asking price . . . .  271

□                   2 homes over 1 million . . . . . . . .    95.4% of asking price . . . 195

I hope this gives you some insight into why there is no easy answer.  If you have any questions, please email me at terrilatta@bellsouth.net.  Also, I encourage you to post a comment on thi

• 12 homes below $300,000. . . . . . .  96% of asking price. . . .  121 days on market
• 6 homes $300,000-500,000 . . . . .   94% of asking price . . . . 167 days on market
• 6 homes $500,000-700,000 . . . . . .100% of asking price . . . .235 days on market
• 6 homes $700,000- 1,000,000 . . . 109% of asking price . . . .294 days on market
• 1 home Over $1,000,000 . . . . . . .   85% of asking price . . . . 360 days on Market