2009, Year End, Chapel Hill Real Estate Market Update

I am happy to report that the 2009 Chapel Hill, Durham, Raleigh real estate market ended on a high note. Overall all, while sales were still down, they were down much less than the 25% decline we saw in 2008 and thankfully prices held their own.

As the year ended, Chapel Hill saw:

  • Closed sales decline 8.1% (rather than 12% at the end of November),
  • Median prices were up 2.7%,
  • Average prices declined 1.6%, and
  • Days on market increased from 83 to 97.

While it took longer to get homes sold, most houses did sell and prices did not erode significantly.  I take this as success in a difficult time. I am looking forward to a robust 2010 as our economy begins to improve.

Don’t forget to make www.realestateexperts.net a favorite so that you can see monthly updates on the Chapel Hill Real Estate market.

Click here to view Team Jodi’s Chapel Hill Real Estate and Durham Homes for Sale.

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area.