HOME SALES AND PRICES IN THE
TRIANGLE, NC - 2nd QUARTER 2013
Here's all the information on residential real estate in the Triangle, NC for the 2nd quarter, 2013
Interest rates
The national average for the following products
comparing June, 2013 v June, 2012 are:
- 15 year fixed rate mortgage is 3.4% v 3.3%,
- 30 year fixed rate mortgage is 4.3% v 3.9%
- 1 year ARM is 2.8% v 3.1%.
Jobs
Based upon May, 2013 figures released by the
Employment Security Commission of North Carolina, the combined workforce in the
Durham and Raleigh/Cary MSA’s was 861,849. This was a 1% increase from the
workforce seen at the end of 5/12. The unemployment rate in the MSA’s decreased
to 7.3% from 7.8%.
Home Showings
June showings increased 18% and second quarter
showings increased 21%. The buyers are out!
Inventory
- There were 7,691 active listings at quarter end within the four main counties: a decrease of 19% compared to 2Q, 2012 inventory levels.
- New home inventory decreased 8% and re-sale inventory decreased 16%.
- 10,122 new listings entered into during the quarter. This was a 17% increase compared to new listings entered into the system during 2Q 2012.
Distressed
Inventory
Listings that were marked with a special
conditions category related to financial issues accounted for 7% of quarter end
inventory. The percentage was 9% at the end of 2Q 2012. The number of short sales and foreclosures is going down.
NUMBER OF HOMES SOLD
 |
Closed Sales
AVERAGE SALE PRICE
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·
The average days on market for the sales
was 97, a welcome change from the 115 day average for 2Q, 2012.
AVERAGE DAYS ON MARKET
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- Cash closings accounted for 19% of second quarter closed sales compared to 15% of 2Q/12 closed sales.
- 51% of second quarter closed sales had reported financial concessions, down from 55% seen during 2Q/12.
Months of
Supply
The months of supply of all housing is 3 months, a decrease
from the 5 month supply at the end of 2Q, 2012.
Sales to
Original List Price
Homes sold for an average of 98% of original
asking price
Homes that had undergone several price reductions
sold for an average of 91% of original list and in an average of 175 days. Bottom line:
Price it right at the beginning & sell quicker!
Thinking of selling? I have all the information & services you
need for a quick, painless, and successful transaction.
 |
| BE SAVVY...CALL THE SMART REALTOR |
e-PRO, Strategic Pricing Specialist
Fathom Realty NC,
LLC
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com
