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.