Monday, February 22, 2010
2010 has gotten off to a good start. I am seeing a lot of activity in the market. In the Triangle overall, 21% of the current inventory is under contract. Chapel Hill is doing the best in the area with 32% of its inventory under contract.
Currently, and compared to January 2009:
- New listings are up 26.4%;
- Closed sales for the month of January are up 54.8% (from 31 to 48);
- Median prices are down 24.7%;
- Average prices are down 20.4%;
- The list to sales price ratio is down from 96.4% to 95.5%; and
- Days on market increased from 110 to 194.
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