Union County Real Estate Talk

The 2011 Monroe NC Real Estate Market--Five Facts

It's time to look at the real estate market in Monroe NC and to assess how home buyers and home sellers fared in 2011.  Monroe offers some of the most affordable housing in Union County NC.

Here are five facts about the Monroe marketplace in 2011.

1. 234 single-family homes sold in Monroe, the most since 2008.
2. Prices continued to decline with the median sales price of single-family homes dropping to $113,950.
3. Townhomes and condominiums were a very small part of the marketplace with only 10 units sold during the year.
4. Over 30% of the year's home sales were foreclosures and short sales.
5. New construction accounted for only 7% of Monroe's home sales.

What do these five facts mean for Monroe buyers and sellers?

• The distressed sales that are a large part of the Monroe market created great buying opportunities and most likely increased the number of homes sold.
• The price declines since 2008 have caused headaches for Monroe's home sellers.
• Opportunities to buy a townhome or new construction are limited in Monroe.

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

Monroe NC Real Estate Market Report--Year 2011

Copyright 2012.  Carol Fox.  Allen Tate Realtors.  *The 2011 Monroe NC Real Estate Market--Five Facts*

2011-11-21

Treehouse Vineyards—A Monroe NC Winery

A winery in Monroe NC?  You might be surprised to hear that Monroe has its very own family-owned winery.  Cotton fields and horse farms are more typically found in the rolling hills of Union County NC.

Drive through some of Monroe’s oldest neighborhoods to Bay Street and you will find Treehouse Vineyards.  The winery is set on 35 acres and it’s totally within the city limits of Monroe.  The vineyards are planted with muscadine grapes, North Carolina’s native grapevine.  The Norden family planted muscadines because they are easy to grow in the area’s climate and nearly disease-free.

If you know wines, you may think of wines made from muscadine grapes as very sweet.  Attend a tasting at Treehouse Vineyards and you’ll learn that muscadine wines can be dry or sweet, red or white.

My husband and I and another couple visited Treehouse Vineyards this weekend.  We drove up to a very unassuming building beside a huge tree with a large treehouse 30 feet up in the treetop.  Inside we were greeted by the Nordens, who gave us samples of their handcrafted wines.  With names like Crystal Creek, Windy Hill, Sweet Union, Date Nite, Tack Shack Red and Baileys Blend, each wine was named for something special on the farm.  They were all delicious and three of them won awards at the NC State Fair.

We finished the tasting with a muscadine cider slushee, which when topped with a little wine becomes a wine-a-rita.  It was the best slushee I’ve ever tasted.  After the tasting we were treated to a tour of the winery and learned how the handcrafted wines are made and bottled.

I highly recommend a stop at the Treehouse Vineyards to learn more about these surprising wines.

Want to know more about real estate and living in Monroe and Union County NC?  Request a free Union County NC relocation package.

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Treehouse Vineyards—A Monroe NC Winery*

2011-11-07

Monroe NC Air Show Honors Military Veterans

I joined thousands of other people yesterday at the Warriors and Warbirds Air Show in Monroe NC.  With brilliant Carolina blue skies overhead, we all enjoyed the display of vintage airplanes from the World War II  to Korea and Vietnam eras.

The Charlotte-Monroe Executive Airport opened at 9am with the airplanes parked around the grounds.  We could get up close to see the planes that would be flown overhead in the afternoon.  Two restored planes, the Spirit of Freedom and the Tinker Belle, were open for interior tours. The Spirit of Freedom is one of the planes that took part in the Berlin Airlift.  The Tinker Belle is a cargo plane that flew over the Himalayas during World War II.

At noon, the air show began with four jumpers landing in front of the crowd.  Then the vintage planes began to take off with aerobatics and fly-bys.  Four hours of air show kept the crowd fascinated.

The Warriors and Warbirds Air Show is an annual event sponsored by the City of Monroe.  It’s held every November to honor military veterans.  The Air Show is Monroe’s largest event and quite appropriate for a city that has the largest aerospace manufacturing industry in the southeast.

Take a video tour of the Warriors and Warbirds Air Show here.

Want to know more about living in Monroe and Union County NC?  Request a free Union County NC relocation package.

Copyright 2011. Carol Fox.  Allen Tate Realtors.  *Monroe NC Air Show Honors Military Veterans*

Warriors and Warbirds Air Show Honors Veterans in Monroe NC

World War II vintage planes and a re-enactment of the Battle of Britain over the skies of Monroe NC.  It’s time for the Warriors and Warbirds Air Show, the biggest event of the year in Monroe.  You can join tens of thousands of other folks who come to this annual event this weekend, November 4th, 5th and 6th.  The location is the Charlotte-Monroe Executive Airport on Airport Road in Monroe.

Warriors and Warbirds activities begin on Friday afternoon at 4pm with singers, night flights, a jump team, aerobatics and a fireworks show.  The gates open at 9am on Saturday and Sunday.  A special program honoring veterans takes place each day at 11am.  The air show begins at 12:30 each day.

If you like to dance, there’s a free 1940s-era hanger dance on Saturday evening at 6pm.  Arrive early for free swing dance lessons.

Unique to the Warriors and Warbirds Airshow is the ability to see the vintage planes up close and speak with the pilots and veterans.  Some of the planes featured include a Spitfire, Hawker Hurricane and six P-51 Mustangs.

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

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Warriors and Warbirds Air Show Honors Veterans in Monroe NC*

Monroe NC Real Estate Market Report—July-September 2011

The number of single family home sales in Monroe NC increased by a third during the third quarter of 2011.  The median sales price dropped 4.3% during the same period.  Days on market have remained stable in 2011 at approximately 90 days.

Only two townhomes sold in Monroe during the third quarter.  The median sales price increased to $123,450, the highest of 2011.  Median days on market saw a huge improvement, dropping from over a year to under six months.

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

• Single family home sellers in have seen fairly stable median prices over the spring and summer of 2011.  Townhome sellers saw an improving market.
• Housing, both single family and townhomes, remains more affordable for buyers in Monroe than recent years. 

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condos

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Monroe NC Third Quarter 2011

The following neighborhoods had the most sales activity during the third quarter.

Colonial Village   Glendalough

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

Monroe NC Real Estate Market Report—April-June 2011

Monroe NC is the county seat of Union County NC.   A beautiful restored courthouse sits in the heart of downtown Monroe where many historic homes can be found.

The single family median price improved in the second quarter of 2011 compared with the first.  The median price was up 9.5% although still below median prices for 2010.  The number of homes sold from April to June remained nearly the same as the first quarter.  Median days on market dropped slightly.  Only two townhomes or condos sold in the second quarter.  The median price increased 55.3% while days on market increased to almost two years.

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

• Sellers in Monroe saw some relief from the drastically lower prices of the first quarter.
• Buyers for properties in Monroe can find affordable prices.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condos

Source: Carolina Multiple Listing Service

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

Monroe NC Real Estate Market Report—January-March 2011

Median prices for both single family homes and townhomes in Monroe NC dropped dramatically during the first quarter of 2011.  Single family prices were off 17.9% while townhome prices plummeted 58.8%.  The lower townhome pricing was due to the fact that most sales during the first quarter were in one complex.  Forty four single family homes closed and 6 townhomes sold.  Days on market were up slightly for the single family homes and up 400% for the townhomes that sold.

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

• Sellers in Monroe face a downward pressure on home prices. 
• Buyers for properties in Monroe may be able to find better values now than in 2010.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condos

Source: Carolina Multiple Listing Service

 Most Active Neighborhoods in Monroe  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.

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

Monroe NC Farm Show and Festival Showcases Union County’s Agricultural Heritage

If you’re a newcomer to Charlotte NC and you head out of the city into Union County, Charlotte’s neighbor to the south, you might think that strip malls and new subdivisions are what Union County’s all about.  If so, you have the wrong idea.

Union County NC is actually one of the top agricultural counties in North Carolina.  According to the NC Cooperative Extension, Union County is ranked third in the state in farm level income.  Approximately 167,370 of Union’s 408,960 total acres exist as farms.  Most of this acreage is harvested cropland.  A lesser portion is in hay crops and pastures, commercial horticulture and managed woodlands.  Union County’s major agricultural commodities are broilers, turkeys, wheat and soybeans, beef cattle and horticultural crops.  Union County also has a strong equestrian community.

Drive a little further on April 9-10 to Monroe and help the county celebrate its agricultural heritage at the second annual Farm Show and Festival.  Sponsored by the Union County Antique Tractor and Power Club, the show will have activities for the whole family.  You can see antique tractors as well as new farm equipment.  There will be an antique tractor parade and a kiddie power pull.  You can enjoy live music and food vendors.

Details of the Union County Farm Show and Festival

When:  April 9, 2011  8am-8pm
           April 10, 2011  8am-4pm

Where: Union County Ag Center
             3230 Presson Road at US 74
             Monroe, NC

Admission:  $5

Want to know more about real estate and living in Union County NC and its small towns?  Request a free Union County NC relocation package.

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Monroe NC Farm Show and Festival Showcases Union County’s Agricultural Heritage*

Monroe NC Real Estate Market Report—Year 2010

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

The tables below compare the Monroe NC real estate market for years 2008 through 2010.  173 single family homes and 17 townhomes closed in Monroe in 2010.  The highest priced single family home sale was $392,500.  The highest priced townhome sale was $165,000.  Median days on the market jumped for both single family homes and townhomes.  The median list to sale ratio in 2010 was 96% for single family homes and 98% for townhomes.

Single Family Homes in Monroe NC

The median sales price in Monroe was up 4.9% from 2009 but down 9.5% from 2008.  The number of homes sold showed a decrease of 13.5% from 2008 to 2009 and a decrease of 30.2 % from 2008 to 2010.  Median days on the market were up 72% from 2009.

Source:  Carolina Multiple Listing Service

Townhomes and Condominiums in Monroe NC

Monroe doesn’t have very many townhome or condominium complexes so there aren’t many units sold each year.  The number of townhomes sold in Monroe during 2010 increased slightly from 2009.  The median sales price in 2010 was up 27.6% from 2009.  This most likely reflect a large proportion of sales from one new construction complex.  Median days on the market increased substantially in 2010 again likely from the new construction complex.

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Monroe NC

The most active Monroe 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.

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

Monroe NC Real Estate Market Report—July-September 2010

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

Market activity in Monroe NC dropped in the third quarter of 2010 both in number of sales and in average sales price.  Single family average prices were off 1% from 2009 prices and off 6% from the second quarter of 2010.  There were 43% fewer single family homes sold in the third quarter than in the second quarter.  There haven’t been many townhome or condominium sales in Monroe in 2010.  Average prices in the third quarter dropped 15% from 2009 and were off 9% the third quarter.

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

Single Family Homes in Monroe NC

2009 Average Sales Price:  $124,851   First Quarter 2010 Average Sales Price:  $119,357  Second Quarter 2010 Average Sales Price:  $131,493  Third Quarter 2010 Average Sales Price:  $123,724

2009 Number of Homes Sold:  218    First Quarter 2010 Number of Homes Sold:  30  Second Quarter 2010 Number of Homes Sold:  72   Third Quarter 2010 Number of Homes Sold:  41 

2009 Average Days on Market:  117   First Quarter 2010 Average Days on Market:  127   Second Quarter 2010 Average Days on Market:  99  Third Quarter Average Days on Market:  121

Townhomes and Condominiums in Monroe NC

2009 Average Sales Price:  $125,269    First Quarter 2010 Average Sales Price:  $109,617   Second Quarter 2010 Average Sales Price:  $117,525  Third Quarter 2010 Average Sales Price:  $106,555  

2009 Number of Homes Sold:  15       First Quarter 2010 Number of Homes Sold:  2    Second Quarter 2010 Number of Homes Sold:  8     Third Quarter 2010 Number of Homes Sold:  5

2009 Average Days on Market:  93     First Quarter 2010 Average Days on Market:  399    Second Quarter 2010 Average Days on Market:  101  Third Quarter 2010 Average Days on Market:  119

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Monroe NC

The most active 2009 Monroe NC neighborhoods are listed below. 

Windy Ridge

Hamilton Place

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