Life & Real Estate | October 2022
Hello Friends, welcome to October!
I hope this note finds you and your family healthy and ready for some autumn weather. It certainly is cooling down and we are less than two weeks away from the
NC State Fair, which is Oct 13-23 this year. We are also heading into conference season, and our team will be networking with colleagues around the country. Keep an eye out for upcoming social media posts.
We know the housing market is changing this season as buyer demand slows. But that can give you some unique benefits when you sell. Here are just a few opportunities you have if you list your house this fall.
1. Growing supply means you have more options for your move
2. Home inventory is still low and this is still a Seller's Market
3. Your home equity has grown by a record amount over the last few years
Let us take a look at the most recent stats from the Triangle MLS for the "entire Triangle" and the "Cary/Apex/Morrisville" areas.
MARKET UPDATE
(Entire Triangle)
August 2021 vs August 2022
NEW LISTINGS: 4616 vs 4506 -2.4%
CLOSED SALES: 4367 vs 3948 -9.6%
MEDIAN SALE PRICE: $351,000 vs $405,000 +15.4%
PERCENT OF LIST PRICE RECEIVED: 104.1% vs 100.6% -3.4%
DAYS ON MARKET UNTIL SALE: 9 days vs 16 days +77.8%
INVENTORY OF HOMES FOR SALE: 3365 vs 5997 +78.2%
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(Cary/Apex/Morrisville only)
August 2021 vs August 2022
NEW LISTINGS:
474 vs 441
-7%
CLOSED SALES:
514 vs 410
-20.2%
MEDIAN SALE PRICE:
$475,000 vs $569,500
+19.9%
PERCENT OF LIST PRICE RECEIVED:
106.9% vs 100.9%
-5.6%
DAYS ON MARKET UNTIL SALE:
4 vs 14
+250%
INVENTORY OF HOMES FOR SALE:
202 vs 524 +159.4%
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