Hello Friends, welcome to September!
We hope you had an amazing August! "Back to school" is in full-swing and the buses have once again become a part of the daily commute. And so begins the guessing-game of needing a jacket, or to use air conditioning. It’s also time to bring out the school colors for UNC, NCSU , Duke, ECU and others!
If you have been wondering if now is the time to sell your home, you have probably seen the headlines that the housing market is starting to see a cool-down. While it’s still a sellers’ market, the peak frenzy the we saw over the past two years has slowed down some (and in my opinion, that’s a good thing!). But if you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there…. nevertheless, you do need to price your house right for today’s market. My favorite new word- Micro-market. Every area and neighborhood is different and needs to be assessed with a critical eye. It’s never too early to start conversations about buying and selling. Let’s talk, no obligation… and always confidential!
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)
July 2021 vs July 2022
NEW LISTINGS: 4768 vs 4815 +1.0%
CLOSED SALES: 4216 vs 3684 -12.6%
MEDIAN SALE PRICE: $355,000 vs $420,000 +18.3%
PERCENT OF LIST PRICE RECEIVED: 105% vs 101.7% -3.1%
DAYS ON MARKET UNTIL SALE: 9 days vs 12 days +33.3%
INVENTORY OF HOMES FOR SALE: 3332 vs 5628 +68.9%
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(Cary/Apex/Morrisville only)
NEW LISTINGS:
525 vs 528
+0.6%
CLOSED SALES:
523 vs 437
-16.4%
MEDIAN SALE PRICE:
$501,000 vs $575,000
+14.8%
PERCENT OF LIST PRICE RECEIVED:
107.4% vs 101.6%
-5.4%
DAYS ON MARKET UNTIL SALE:
5 vs 11
+120%
INVENTORY OF HOMES FOR SALE:
242 vs 570 +135.5%
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