26 Mar 2014

Allen Tate Company Announces Banner Results for 2013

Allen Tate Company, the Carolinas’ #1 real estate company, rebounded to 2007 levels in 2013, with 20,083 closings and $4.5 billion in closed sales volume across the company’s footprint.

“In the last 12 months, we have shifted from a recovery mode to a stabilization mode – and now to a growth mode. Opportunities are at a premium again for both home sellers and home buyers,” said Allen Tate Company President and COO Pat Riley.

Company-wide closed sales volume was $4,501,998,033, a 30.7 percent increase over $3,445,190,489 closed in 2012. Closed units increased by 26.1 percent, with 20,083 closings in 2013, compared to 15,920 in 2012.

Single-family residential closings showed double-digit increases across Allen Tate markets in both North and South Carolina:

  • Charlotte N.C. Region (Charlotte, Gastonia, Rock Hill, Fort Mill, Lake Wylie) – Closings were up 26.8 percent over 2012, with 12,747 and a closed sales volume of $3,000,305,851, an increase of 27.5 percent over 2012.
  • Triad N.C. Region (Greensboro, Winston-Salem, Burlington, Oak Ridge) – Closings were up 30.4 percent over 2012, with 4,547 and a closed sales volume of $827,313,971, an increase of 37.2 percent over 2012.
  • Triangle N.C. Region (Raleigh, Chapel Hill/Durham, Cary, Wake Forest) – Closings were up 19.7 percent over 2012, with 1,729 and a closed sales volume of $495,155,862, an increase of 19.3 percent over 2012.
  • Upstate S.C. Region (Greenville, Easley-Powdersville, Greer) – Closings were up 20.2 percent over 2012, with 1,060 and a closed sales volume of $189,222,349, an increase of 23.9 percent over 2012.
  • Builder Services Inc.(Charlotte and Triad regions) – The company’s new homes division saw a 70 percent increase in closings over 2012, with 1,321 and a 77.6 percent in closed sales volume, at $322,665,597.

Riley said gains in all markets are attributable to move-up buyer activity, multiple offers in select markets and “normal” price appreciation returns for sellers.

“For 2014, predictions for the Carolinas are continued healthy growth for sales pace and price appreciation. Most economic predictions show price gains between 3 and 4 percent for North and South Carolina. We are currently in a very balanced market across the Carolinas and opportunities are there for both sellers and buyers,” said Riley.

Allen Tate Companies
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