Monday, January 09, 2012
Chapel Hill Real Estate November 2011 Market Update
Sales in Chapel Hill were fairly strong in 2011. Year-to-date sales in November where down 3% which is far better than the last few years where we saw a 20-30% reduction in sales. Average prices are also up slightly. The two negatives is that the list to sales price ratio is smaller — which means sellers are getting less of their asking price. Also, the days on market have stretched out even further so it is taking longer to sell a house.
Chapel Hill/Carrboro (Sales are down and prices are up)
- As of the end of November, closed sales were down 3% overall;
- Average prices were UP slightly (1.2%);
- The list to sales price ratio dropped from 96.4% in November 2010 to 95.6%;
- The average days on market increased from 114 last year to 136 this year.
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