It's been a banner year for real estate and our local MLS appraiser, Stacey Anfidsen shares some interesting numbers with us as we closed out 2013 and start a new year of real estate sales in the Chapel Hill, Durham, Raleigh Real Estate market.

In spite of small interest rate increases and only two percent job growth there has been pent up demand all year in our local housing market.

Here are some interesting figures to ponder if you are about to start a home sale or home purchase plan in the new year.

Inventory is at a new low and down 10 % in December of 2013 compared to the previous December 2012.

We've had more new homes sell ( 10 % more actually ) and resale inventory is down 15 %. Good news is we have 12 % more new listings than we did in December of 2012 but they're selling faster and for over list price in many cases with multiple offers.

 

Pending sales - those under contract but not sold yet- us up 18 % for the month of December and up 8% for the 4th quarter. This is a time when our local sales market tends to be traditionally slower over the holidays and break time; but this year people seemed to be out buying and selling homes!

 

Home sales were up 22% last month and 17 % in he  4th qtr- that means more homes that get to contract are closing and there were a lot of happy homeowners! One nice number is the days on market. This dropped from 116 to 78 days, meaning a home was on the market an avg of 78 days before getting an offer.

 

With historically low levels of inventory- Stacey reports only 3-4 months supply- there' been a demand for housing that we are finding hard to keep up with. Houses are selling faster and for more money than this time last year.

Clearly we need our job growth to grow from 2 % to be able to continue in a positive trend and avoid a bubble possibility from returning should inventory get too low.

 

Listen to what Stacey has to say in the video below.

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Masha Halpern and The Smart Move Team is your ultimate real estate resource for Chapel HillDurhamCarrboro and surrounding areas. Visit my website atwww.TheSmartMoveTeam.com  for detailed information regarding today’s real estate markets.

Masha is a certified member of The Luxury Home Marketing Institute, participates in its annual Leaders in Luxury Conference, and works with The Institute’s thousands of members worldwide to share information about current listings.

Masha is also a certified member of Keller Williams Luxury International and is Chapel Hil & Durham's EXCLUSIVE  member of Cyber Stars International – Top Realtors Using Technology – a group dedicated to taking the best and latest technological advances and applying them to real estate advertising and marketing for her clients in all price pointsMasha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visitingwww.TheSmartMoveTeam.com.