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. In Chatham County, it is slower but still 16% of the inventory is pending.
Currently, and compared to January 2009:
- New listings are down 11%;
- Closed sales for the month of January are up 50% (from 24 to 36);
- Median prices were down 12.4%;
- Average prices declined 8.7%;
- The list to sales price ratio declined from 95% to 93%; and
- Days on market increased from 66 to 181.
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