Chatham County’s market is shaping up to be a good place for sellers.
I am back again to give you another quick update for the Triangle area. Let us dive into the current state of the real estate market in Chatham County, North Carolina.
1. Inventory. Based on the numbers from our latest Triangle Area Market Report, listings are up and the available homes are selling quickly compared to last year. However, months of inventory remain extremely low, ranging from under one month to a maximum of three months at the high end. This means that we are still in an extreme seller’s market.
2. Sale prices and days on market. Average sale prices are on the rise across the board, and homes are selling close to their listing price. I am also seeing multiple offer situations in the market. In addition to that, days on the market have increased slightly, with 40 to 60 days indicating that buyers are eager to compete for their dream homes.
“Even though interest rates are up, buyer activity is strong, and things are moving quickly”
3. Interest rates. Even though interest rates are up, buyer activity is strong, and things are moving quickly. We are anticipating a potential rate decrease later this year. But that’s still in the future, and I’d like to put more emphasis on the fact that there are plenty of buyers out there who are looking for houses.
4. Is it a great time to sell? The answer is yes. So, if you’re still unsure whether to list your property or not, I’m telling you that now is a great time. With a limited number of homes available and plenty of eager buyers, sellers can take advantage of this favorable market condition.
Whether you have questions about the market or are ready to list your home, I am here to help. Feel free to contact me at [email protected] or you can call or send me a text directly at (919) 759-6359 and I will get back to you right away.