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2013 Year End Chapel Hill, Durham, Raleigh Real Estate Wrap Up

by Masha Halpern-MH

 

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.

 

 

Buyers Agree NOW is the Time to Act

by Masha Halpern-MH

I'm seeing a lot of articles and posts from colleagues across the country and they all seem to be saying the same things...1. Houses are selling and faster than in previous years; and 2. Inventory is limited and that's starting to cause a shift over to a more favorable seller's market.

A recent article by Trulia, Inc released results of a survey that described common homebuyer mistakes.

Nearly 3/4 of those buyers also said that now is the time to buy- don't wait! One factor that is influencing them to say "NOW is the Time to Act"- Rising Home Prices. Other factors have led us to a 12 year inventory low, and this creates a seller's market! What this means is that IF you have to buy a home, you may have to compromise more than in previous years- or you may have to settle on a home that you don't love if you wait.

 

Here are some Home Buyer Regrets noted by The Welcome Home! publication-

I wish I chose a larger home 34%

I wish I had done that remodel- renovation 27%

I wish I had more information about the home (#1 Reason for working with Masha ) 22%

I wish I had made a larger down payment 18%

I wish I had been more financially secure before deciding 16%

It's a new year and I am definitely seeing more sellers getting prepared to make their  homes available for sale. Since so many buyers have been trying to wait it out, I suspect that homes will sell fast!

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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.

 

 

 

This is becoming a VERY popular sign in many Durham and Chapel Hill neighborhoods!

 

And if this is the first time you are visiting my blog, Ill first say, "Welcome!", and second share with you that this has been a year-long event! Monthly, quarterly, and now I can report, all year long, in Chapel Hill, Durham, and surrounding communities, we have had more homes sell and lower inventory as compared to 2011.

Our own T.M.L.S. ( Triangle Multiple Listing Service ) interviews Appraiser, Stacey Anfindsen and he shares news about our 23% increase year -to- date from last year, news of a great month for January 2013,decreasing inventory- currently at four months supply ( just a 'hair' above short supply ), and more! Watch this short video that gives the in-depth analysis of our monthly, quarterly and year to date figures...and please check the RSS feed so you can be up to date on local events, home ownership tips, and real estate news ( local and national ).

 

 

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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 certified member of Keller Williams Luxury International and is also a 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 points. Masha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visiting www.TheSmartMoveTeam.com.

 

 

 

 

 

 

 

 

 

It never gets old hearing positive real estate news! " Strong Trend in Home Sale Continues in Fourth Quarter in Raleigh Durham Chapel Hill Real Estate". You may have noticed a neighbors home go 'up for sale' recently and been amazed that shortly after a 'contract pending' sign appeared. Its true. Our market is doing much better and continuing to show improvement.

 

Local lenders are busy processing new loans on top of refinance loans and appraisers are finding more sales comparable properties available for appraising. Listen to Stacey Anfidsen discuss our November 2012 activity compared to the same month in 2011.

 

I have certainly noticed that my buyer clients are having to select homes much faster than before...and in some cases have less to chose from. Stacey pointed out that there were 3.4% less homes on the market in November of 2012 than in the same month in 2011. That makes sense! That all translated in to 28% more homes closing ( ie they actually sold ) in November 2012.

 

Is this a trend and how do we know this will continue?

November 2012 showings were up 15.2% and there were 21% more pending ( contracted ) homes in November of this past year 2012 than the year before. That all means that January 2013 will also be a STRONG closing month and so the trend will likely continue in to 2013!

There seems to be a growing confidence in the real estate market and people are buying a home or selling a home more than in previous years. This is all resulting in a 6.7% increase in the average sale price from November 20111. This does not mean if you bought a home in 2011 that it could have sold for 6.7% more in 2012; but it does indicate a growing confidence in the Chapel Hill, Durham, Raleigh real estate market home sales.

 

One other nice piece of news in real estate is that the avg time a house 'waited' before going under contract has gone down to 114 days in our area;down from 129 the year before. Great news as we look for the annual wrap up post coming next!

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Masha is a certified member of The Institute for Luxury Home Marketing, 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 certified member of Keller Williams Luxury International and is also a 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. Masha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visiting www.TheSmartMoveTeam.com.

 

 

 

 

 

October Triangle Real Estate Home Sales Continue To Rise!

by Masha Halpern

This may sound repetitive to some but 'Oh how sweet the sound'! October Triangle home sales continue to rise! Recent market indicators, shared with me through our TMLS, by local appraiser Stacey Anfidsen, report great news for our local market. Watch this TMLS video for all the great news!

 

Monthly indicators show that home showings are up 16% this month from one year ago. Sales continue an upward trend rising to 31.5% and a new high of 34% in the pending homes category mean homes are going under contract AND closing at higher percentages than in 2011.

How we know this is by watching the monthly absorption rate ( or monthly supply ) of homes. In 2011, the Raleigh, Durham, Chapel Hill and surrounding areas, had a nine month supply of homes on the market. It is typically considered a buyer's market when there is more than a six month supply. Anfidsen reports this month we have a five months supply- meaning the market is more balanced and slightly tipped in favor of sellers.

 

 You may already know this if you happen to be a current buyer and have tried to buy a home recently in Chapel Hill or Durham and been outbid in a competing offer situation. I am seeing more of this every day and I'm preparing my clients to be ready, knowledgeable of the daily market, and competitive with their bid. Our plan is working for our buyer and seller clients and I would be happy teach you the steps if you want to buy or sell in the next few months.

More interesting facts:  We have 16 % more new listings for sale on the market ; and an average day on the market time that has come down to 114 days from 123 days one year ago.More homes are coming on the market and selling faster when they do which means it is a GREAT time to sell your home! Note that inventory is selling and we have another month of declining inventory- 20 % less in fact. YES, that makes 11 months in a row, of decline in the number of homes on the market.Incredible news!

What does this all mean? Well, when you have inventory going down and sales going up, eventually prices will start to go up as well. Anfidsen notes two things to keep an eye out for to show prices are going up in the local market: The average list price of new construction is going up when it had been in a declining pattern, and the monthly supply of houses changing to a smaller number. Two years ago we had a 12 month supply and now it is five.

Basically its all good news if you are buying a home because there are a lot of new homes to see; they are moving faster; but they are selling- which also makes it a great time to sell! Even in what is traditionally a slower time of month; my personal activity is higher than ever!



Masha Halpern has been selling homes in Chapel Hill and Durham for 20 years and is in the top 10 percent of Keller Williams Realtors in closed sales nationwide. Masha is also certified as a Luxury Home Marketing Specialist and a member of kwLuxuryInternational. Call Masha Halpern at 919-951-1780 or 877-478-4669, if you are considering buying or selling a home.

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Masha Halpern - Boutique Real Estate
Keller Williams Realty
101 Cosgrove Avenue, Suite 200
Chapel Hill NC 27514
Direct 919-951-1780
Toll Free 877-478-4669
Fax: 919-928-9030




Masha Halpern of Keller Williams Realty provides real estate services in the Chapel Hill, Carrboro and Durham, North Carolina area including real estate services for buyer, sellers and those relocating to the surrounding areas of Apex, Bahama,Cary, Efland, Hillsborough, Holly Springs, Mebane, Raleigh, and Wake Forest. Search for homes in Chapel Hill, Carrboro, Durham or the surrounding communities.  Request a market analysis for your North Carolina property.  I list and sell residential real estate, investment property, vacant land, lots for sale in Chapel Hill, Carrboro and Durham, North Carolina area.

Chapel Hill, Carrboro and Durham, North Carolina real estate and homes for sale in North Carolina - Masha Halpern & The Smart Move Team

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