Shrinking inventory is creating frustration for buyers in the local marketplace. The News and Observer reported a surge in home sales - many fast selling homes with multiple offers! Making it even more competitive... is the low inventory of available homes. Consider this:

At the end of  there were 7,667 homes for sale ( new and resale ). That's down 23 % from last year and 42 % from two years ago. What does all this mean for you and me-  Chapel Hill, Durham, and Raleigh areas have a three month supply of housing for buyers to choose from.

Adding to the low inventory is the fact that area home prices have remained relatively flat- or stable -  a more positive label for it- so area home owners have been hesitant to offer their homes for sale. This makes it a bit tougher to find a home if you are a buyer today.

The good new is that as buyers compete for homes currently on the market; prices will increase- and ultimately more sellers will put their home up for sale!

Local appraisers have stated that  low inventory will be the 'name of the game for much of the summer and possibly the fall of this year. Local appraiser Stacey Anfindsen shared in the N&O article, written by David Bracken, that he expects inventory to 'flat-line' much of the year through the third quarter of 2013.

Good news for sellers of current Chapel Hill homes for sale? Yes, Days on the market has drastically reduced- down 31 days from April of last year!

Masha Halpern, Broker, CLHMS, GRI
Keller Williams Realty
Masha@MashaHalpern.com

919-414-0337

Get your latest Home Value
Receive Your Personalized Listing Alerts

Masha Halpern and The Smart Move Team is your ultimate real estate resource for Chapel Hill, Durham, Carrboro and surrounding areas. Visit my website 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 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.