Inventory and Sales - that's the topic for today's posting on Homes for Sale in Chapel Hill and Homes for Sale in Durham. What better way than to start with some statistics.

Compared to this time last year ( July & August  2013 ) our market has HALF- that's right, half the number of homes for sale. July of 2013 we had inventory levels of  14,394 homes for sale in Durham, Chapel Hill,CarrboroRaleigh, Cary and surrounding areas that make up our local MLS. This summer July & August post 7964. Why would this be happening?

Pending contract and sales last year were in double digits- many homes sold! That's a great thing for you if were thinking of selling your house. 

Here is a home we have for sale right now that offers great natural lighting and a beautiful  home-site convenient to both Duke Hospital, Chapel Hill and Downtown Hillsborough!

Or if a home IN Chapel Hill is what you want, check out this amazing executive home in Lake Hogan Farms!

What about inventory?  This year we have a modest 1 % increase in pending AND SOLD homes. The market is very stable and our inventory is up 4 % this year ( mainly due to the 23% increase in new construction home starts ). Resale inventory does remain low- intact it's down 1 % this year from last. So, if you are really starting to think about buying a new home locally or moving out of state and need a Realtor Referral - This is also a good time to be selling your house!

Why is now good? Many reasons; but one important one is appreciation. While we have always had a more conservative rate of appreciation compared to the rest of the country- that has been what really saved this market during the worst part of the real estate bubble. Historically our average appreciation for the Chapel Hill, Durham and Raleigh-Cary markets has been about 3%. Currently we are at about 4-6% appreciation and local appraisers are comfortable with this range since its close to average.

Listen to how Stacey Anfidsen our MLS local appraiser explains the July Real Estate market.

If  this news peaks your curiosity about what's for sale in the market, here are some examples of homes for sale. Having looked at that, you can tailor your own search and see what is available locally to consider when buying your next home.

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Masha Halpern and The Smart Move Team is your ultimate real estate resource for Chapel Hill, Durham, Carrboro and surrounding areas. Visit my website at www.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 Hill & 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 points. Masha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visiting www.TheSmartMoveTeam.com