Thursday, January 15, 2015
Interestingly, the Triangle saw increases overall except in Chapel Hill-Carrboro and Orange County.
- Overall, closed sales were up 4.6%.
- Average prices were up 3.4%.
- Days on market decreased by 4.2% to 68 days, and
- The average list to sales price ratio increased 0.4% to 95.7%.
There is also a lack of inventory on the market. Inventory is down substantially to 4.1%. In years past it has been closer to 10 months and well above 12 months for homes in the upper price ranges.
Also, the number of homes that came on the market in 2014 was 15.6% less than the number that was on the market in 2013.
All of the indicators are positive for a healthy real estate market in 2015. Sellers should have more confidence that their homes will sell and interest rates are still very low for buyers.
If you are interested in buying or selling real estate in 2014, talk to one of our experts. Look at the Real Estate Experts web site or give us a call at 919-928-5131. It will be out pleasure to help.