Union County Real Estate Talk

The 2011 Mint Hill NC Real Estate Market—Four Facts

It's time to look at the real estate market in Mint Hill NC and to assess how home buyers and home sellers fared in 2011.

Here are four facts about the Mint Hill marketplace in 2011.

1. The Mint Hill single family real estate market has experienced a steep decline in prices since 2008 with the median price in 2011 over 30% below the median price in 2008.
2. The number of single family homes sold in 2011 was slightly above 2009 levels but approximately 11% below 2010.
3. Townhome prices also declined in 2011 dropping almost 8% below 2010 prices.
4. Distressed sales made up approximately 35% of all sales in Mint Hill in 2011.

What do these four facts mean for Mint Hill buyers and sellers?

• Mint Hill home sellers are feeling the impact of the large number of foreclosures and short sales in the steep price declines over the past four years.
• Home buyers will find the Mint Hill market to be very affordable.

Want to learn more about the real estate market in Mint Hill and see all the numbers for each of the past four years? Want to know where the most active Mint Hill neighborhoods were in 2011? Click on the link below.

Mint Hill NC Real Estate Market Report—Year 2011

Copyright 2012. Carol Fox. Allen Tate Realtors. *The 2011 Mint Hill NC Real Estate Market—Four Facts*

Olde Sycamore in Mint Hill NC Real Estate Market Report—2011 Year-to-Date Review

Olde Sycamore is a golf course community located in both Mecklenburg County and Union County NC.  The Town of Mint Hill NChas annexed all of the neighborhood homes in both counties.  A large community, Olde Sycamore wraps around Olde Sycamore Golf Plantation, a highly regarded golf course built in 1997 and renovated in 2007.  The neighborhood contains a variety of homes and price points.  Construction in Olde Sycamore is nearly complete. 

Olde Sycamore Real Estate Market Comparison

A detailed comparison of the 2011 year-to-date real estate market in Olde Sycamore can be found in the tables below.  What can Olde Sycamore buyers and sellers learn from these statistics?

1. Sellers have less competition from new construction as it is nearly complete.  The median price dropped in 2011 but the size of the homes sold also dropped substantially reflecting the fact that less new construction sold.
2. Buyers who want to live in a golf course community will find that Olde Sycamore is a very affordable choice.

Olde Sycamore Real Estate Market Comparison

Single Family Homes

Olde Sycamore Single Family Market Update	Median Closed Price	Median Home Square Footage	Median Days on Market	Median List to Sale Ratio
Year 2009	$282,000	3043	35	95%
Year 2010	$294,900	3485	134	96%
YTD 2011	$253,500	2802	102	96%

Source: Carolina Multiple Listing Service

Olde Sycamore Types of Closed Sales

Seventy five percent of the 2011 sales were resales.  The neighborhood had no foreclosures and only one short sale.

Olde Sycamore Sales Types	Number of Closed Sales	Percentage of Closed Sales
Resale	9	75%
New Construction	2	16.6%
Foreclosure	n/a	n/a
Short Sale	1	8.4%

Source: Carolina Multiple Listing Service

Read more about Olde Sycamore, its community amenities, builders and public schools: Olde Sycamore in Mint Hill NC: Homes for Sale and Neighborhood Profile

Olde Sycamore Homes for Sale

Click here to see Olde Sycamore homes for sale.

Ever wonder what your Olde Sycamore home is worth?

Click here to receive a free market evaluation.

Copyright 2011.  Carol Fox.  Allen Tate Realtors. *Olde Sycamore in Mint Hill NC Real Estate Market Report—2011 Year-to-Date Review*

Mint Hill NC Real Estate Market Report—July-September 2011

Single family median sales prices in Mint Hill NC decreased 2.4% in the third quarter of 2011 compared with the second quarter.  The third quarter median price was higher than the first quarter median price by 10.9%  The number of single family homes sold decreased as well by 17%.  Median days on market increased to 89.  Only one townhome sold in Mint Hill during the quarter at a price of $139,900, higher than first or second quarter median prices.

What do the third quarter 2011 numbers mean for Mint Hill NC buyers and sellers?

• Sellers of single family homes in Mint Hill may see home prices stabilizing in 2011.  There are very few townhomes sales in Mint Hill.
• Buyers for properties in Mint Hill can find affordable prices in neighborhoods with convenient access to amenities.

Single Family Homes

Mint Hill Single Family Homes	Year 2008	Year 2009	Year 2010	Quarter 1 Year 2011	Quarter 2 Year 2011	Quarter 3  Year 2011
Median Sales Price	$258,500	$218,495	$195,545	$165,000	$187,500	$183,000
Number of Homes Sold	194	152	176	35	47	39
Median Days on Market	26	41	103	80	58	89

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Mint Hill Townhomes and Condos	Year 2008	Year 2009	Year 2010	Quarter 1 Year 2011	Quarter 2  Year 2011	Quarter 3  Year 2011
Median Sales Price	$212,040	$213,495	$151,990	$132,445	$16,350	$139,900
Number of Homes Sold	5	4	18	6	4	1
Median Days on Market	30	131	94	120	96	232

Source: Carolina Multiple Listing Service

 Most Active Neighborhoods in Mint Hill NC  Third Quarter 2011

The following neighborhoods had the most sales activity during the second quarter. Click on the neighborhood for more information and a list of homes for sale.

Brighton Park       Farmwood       Versage    Fairington Oaks   Wilson Woods

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC  Real Estate Market Report—July-September 2011*

Mint Hill NC Real Estate Market Report—April-June 2011

Single family median sales prices in Mint Hill NC increased 13.6% in the second quarter of 2011.  The number of single family homes sold increased as well by 34.2%.  Median days on market dropped to 58, a 27.5% decrease.  The townhome and condominium median sales price was only $16,350 in the second quarter.  This price is the result of three out of the four sales being foreclosures in the same complex.

What do the second quarter 2011 numbers mean for Mint Hill NC buyers and sellers?

• Sellers of single family homes in Mint Hill may see home prices stabilizing in 2011. 
• Buyers for properties in Mint Hill can find affordable prices in neighborhoods with convenient access to amenities.

Single Family Homes

Mint Hill Single Family Homes	Year 2008	Year 2009	Year 2010	Quarter 1 Year 2011	Quarter 2 Year 2011
Median Sales Price	$258,500	$218,495	$195,545	$165,000	$187,500
Number of Homes Sold	194	152	176	35	47
Median Days on Market	26	41	103	80	58

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Mint Hill Townhomes and Condos	Year 2008	Year 2009	Year 2010	Quarter 1 Year 2011	Quarter 2  Year 2011
Median Sales Price	$212,040	$213,495	$151,990	$132,445	$16,350
Number of Homes Sold	5	4	18	6	4
Median Days on Market	30	131	94	120	96

Source: Carolina Multiple Listing Service

 Most Active Neighborhoods in Mint Hill NC  Second Quarter 2011

The following neighborhoods had the most sales activity during the second quarter. Click on the neighborhood for more information and a list of homes for sale.

Brighton Park       Farmwood       Versage

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—April-June 2011*

Mint Hill NC Real Estate Market Report—January-March 2011

Median home prices in Mint Hill NC tumbled during the first quarter of 2011 compared with 2010 prices.  Single family median prices were off 15.6% while townhome prices dropped 12.8%.  The highest home sale price during the quarter was $409,000 for single family homes and $150,000 for the townhomes.  Thirty five single family homes and six townhomes were sold in Mint Hill during the quarter.  Median days on market dropped for single family homes but increased for townhomes.

What do the first quarter 2011 numbers mean for Mint Hill buyers and sellers?

• Mint Hill sellers face a continued downward pressure on home pricing.  First quarter buyers were looking for homes in the lower price ranges. 
• Buyers for properties in Mint Hill may be able to find the best pricing and values for many years.

Single Family Homes

Mint Hill Single Family Homes	Year 2008	Year 2009	Year 2010	Quarter 1  Year 2011
Median Sales Price	$258,500	$218,495	$195,545	$165,000
Number of Homes Sold	194	152	176	35
Median Days on Market	26	41	103	80

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Mint Hill Townhomes and Condos	Year 2008	Year 2009	Year 2010	Quarter 1  Year 2011
Median Sales Price	$212,040	$213,495	$151,990	$132,445
Number of Homes Sold	5	4	18	6
Median Days on Market	30	131	94	120

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill NC  First Quarter 2011

The following neighborhoods had the most sales activity during the first quarter.  Click on the neighborhood for more information and a list of homes for sale.

Brighton Park	Versage	Danbrooke Park
Farmwood	Lawyers Station	Oxfordshire

 

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—January-March 2011*

Mint Hill NC Real Estate Market Report—Year 2010

How did the Mint Hill NC real estate market fare during 2010 and how did 2010 market activity compare with 2009 and 2008?

The tables below compare the Mint Hill NC real estate market for years 2008 through 2010.  176 single family homes and 18 townhomes closed in Mint Hill in 2010.  The highest priced single family home sale was $650,000.  The highest priced townhome sale was $217,000.  Median days on the market jumped for single family homes while townhome days on market declined from the previous year.  The median list to sale ratio in 96% for single family homes and 94% for townhomes.

Single Family Homes in Mint Hill NC

The median sales price in Mint Hill was down 10.4% from 2009 and off 24% from 2008.  The number of homes sold during 2010 increased 15.7% but was 9.2% lower than the number sold in 2008.  Median days on the market were up 151% from 2009.

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

Source:  Carolina Multiple Listing Service

Townhomes and Condominiums in Mint Hill NC

The number of townhomes sold in Mint Hill during 2010 increase dramatically.  This increase was primarily due to the sale of new construction in Brighton Park.  The median sales price in 2010 was off almost 29% from 2009.  Median days on the market declined in 2010 from 2009.

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

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill NC

The most active Mint Hill NC neighborhoods in 2010 are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 and 2010 real estate activity and to search for current homes for sale.

Timber Creek	Bainbridge	Brighton Park
Danbrooke Park	Ellington Farm	Farmwood
Jonathans Landing	Lawyers Station	Olde Sycamore
Oxford Glen	Oxfordshire	Portofino

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—Year 2010*

Mint Hill NC Home Sales and Best Buys—November 2010 Update

This is a summary of home sales transactions in Mint Hill NC since the beginning of November.  It includes statistics on closed listings, properties that have gone under contract, and current best buys.  Best buys are those properties that have had the greatest price reductions this month on a percentage basis.

Properties under contract are the best indicators of the current Mint Hill real estate market as these are properties recently chosen for purchase.  Closed transactions represent the marketplace of 30 to 90 days ago.  The tables below show a substantial increase in the median sales price for “under contract” properties versus those that have closed in November.

Mint Hill NC Home Sales—Best Buys

  7808 Silver Maple LN  Charlotte, NC 28227  $449,900  5 Beds  0.87 Acres  MLS#: 951300
VIEW | SAVE   Allen Tate Company

  6012 Sugarcane CT  Mint Hill, NC 28227  $295,000  4 Beds   0.46 Acres  MLS#: 974350
VIEW | SAVE

Wilkinson & Associates

Source:  Carolina Multiple Listing Service IDX

Mint Hill NC Home Sales—Properties Under Contract

13 properties	List Price	Days on Market
High	$399,000	326
Low	$69,900	47
Average	$209,307	139
Median	$219,000	125

Source:  Carolina Multiple Listing Service

Mint Hill NC Home Sales—Closed Transactions

8 properties	Sales Price	List to Sale Ratio	Days on Market
High	$538,485	103%	315
Low	$35,500	90%	30
Average	$238,767	98%	131
Median	$169,328	97%	117

Source:  Carolina Multiple Listing Service

Want to know more about real estate and living in Mint Hill NC?  Visit www.CarolinaSmallTownLiving.com.

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Home Sales and Best Buys—November 2010 Update*

Mint Hill NC Real Estate Market Report—July-September 2010

How did the Mint Hill NC real estate market fare in the third quarter of 2010 and how does 2010 market activity compare with 2009?

While the number of sales in Mint Hill NC during the third quarter of 2010 slipped 46%, the average sales price increased 8% over the previous quarter.  The third quarter sales price was off 5% from the 2009 average sales price in Mint Hill.  There were no townhome or condominium closings in Mint Hill during the third quarter of 2010.

Single Family Homes in Mint Hill NC

2009 Average Sales Price:  $246,025   First Quarter 2010 Average Sales Price:  $244,428  Second Quarter 2010 Average Sales Price:  $214,814  Third Quarter 2010 Average Sales Price:  $232,412

2009 Number of Homes Sold:  147    First Quarter 2010 Number of Homes Sold:  21  Second Quarter 2010 Number of Homes Sold:  66   Third Quarter 2010 Number of Homes Sold:  35 

2009 Average Days on Market:  114   First Quarter 2010 Average Days on Market:  158   Second Quarter 2010 Average Days on Market:  94  Third Quarter Average Days on Market:  142

Townhomes and Condominiums in Mint Hill NC

2009 Average Sales Price:  $282,247    First Quarter 2010 Average Sales Price:  $153,378   Second Quarter 2010 Average Sales Price:  $149,666  Third Quarter 2010 Average Sales Price:  no sales  

2009 Number of Homes Sold:  4       First Quarter 2010 Number of Homes Sold:  5    Second Quarter 2010 Number of Homes Sold:  3     Third Quarter 2010 Number of Homes Sold:  none

2009 Average Days on Market:  176     First Quarter 2010 Average Days on Market:  116    Second Quarter 2010 Average Days on Market:  69  Third Quarter 2010 Average Days on Market:  no sales

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill NC

The most active Mint Hill NC neighborhoods are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 real estate activity and search for current homes for sale.

Farmwood

Brighton Park

Olde Sycamore

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—July-September 2010*

Mint Hill NC Real Estate Market Report—April-June 2010

How did the Mint Hill NC real estate market fare in the second quarter of 2010 and how did it compare with 2009? 

Activity in the Mint Hill NC real estate market during the second quarter showed the effects of the federal tax credit stimulus.  The number of single family homes sold during the second quarter increased more than 300% over first quarter closings.  Average sales prices in the second quarter were off approximately 12% likely reflecting the number of first time home buyers in the marketplace.  Average days on market decreased substantially in the second quarter.

Fewer townhomes and condos sold in the second quarter in Mint Hill.  The average price declined slightly while average days on market showed a substantial decrease.

Mint Hill NC Average Real Estate Prices, Homes Sold, and Average Days on Market

The chart below shows average sales prices in Mint Hill NC for single family homes and townhomes in 2008 and 2009 plus first and second quarter 2010.

 

Single Family Homes in Mint Hill NC

2009 Average Sales Price:  $246,025   First Quarter 2010 Average Sales Price:  $244,428  Second Quarter 2010 Average Sales Price:  $214,814

2009 Number of Homes Sold:  147    First Quarter 2010 Number of Homes Sold:  21  Second Quarter 2010 Number of Homes Sold:  66   

2009 Average Days on Market:  114   First Quarter 2010 Average Days on Market:  158   Second Quarter 2010 Average Days on Market:  94     

Townhomes and Condominiums in Mint Hill NC

2009 Average Sales Price:  $282,247    First Quarter 2010 Average Sales Price:  $153,378   Second Quarter 2010 Average Sales Price:  $149,666  

2009 Number of Homes Sold:  4       First Quarter 2010 Number of Homes Sold:  5    Second Quarter 2010 Number of Homes Sold:  3    

2009 Average Days on Market:  176     First Quarter 2010 Average Days on Market:  116    Second Quarter 2010 Average Days on Market:  69

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill NC

The most active Mint Hill NC neighborhoods are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 real estate activity and search for current homes for sale.

Farmwood

Brighton Park

Olde Sycamore

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—April-June 2010*

Mint Hill NC Real Estate Market Report—January-March 2010

How did the Mint Hill NC real estate market fare in the first quarter of 2010 and how did it compare with 2009? 

During the first quarter of 2010, average sales prices for single family homes in Mint Hill NC remained unchanged from prices in 2009.  Average days on market increased from under four months to over five months.  The average sales price for townhomes and condominiums dropped significantly due to the fact that the only townhomes sold during the first quarter were in the same complex in Brighton Park.

Mint Hill NC Average Real Estate Prices, Homes Sold, and Average Days on Market

The chart below shows average sales prices in Mint Hill NC for single family homes and townhomes in 2008 and 2009 plus first quarter 2010.

 

Single Family Homes in Mint Hill NC

2009 Average Sales Price:  $246,025   First Quarter 2010 Average Sales Price:  $244,428

2009 Number of Homes Sold:  147    First Quarter 2010 Number of Homes Sold:  21    

2009 Average Days on Market:  114   First Quarter 2010 Average Days on Market:  158     

Townhomes and Condominiums in Mint Hill NC

2009 Average Sales Price:  $282,247    First Quarter 2010 Average Sales Price:  $153,378    

2009 Number of Homes Sold:  4       First Quarter 2010 Number of Homes Sold:  5      

2009 Average Days on Market:  176     First Quarter 2010 Average Days on Market:  116

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Mint Hill NC

The most active Mint Hill NC neighborhoods are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 real estate activity and search for current homes for sale.

Farmwood

Brighton Park

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Mint Hill NC Real Estate Market Report—January-March 2010*