Watch our very own Carl Johnson singing the national anthem a cappella at the Durham Regional Association of Realtors® 100 Year Inaugural Holiday Luncheon Installation of 2022 Officers & Directors, Thursday November 18 2022 at the Hope Valley Country Club.
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Are you not approved to buy a home before you sell your home? We can help.
Carl just had the opportunity to assist a seller that was not approved to buy their new home prior to selling their current home. Carl was still able to get the sellers house under contract and place a new home under contract with no contingencies for selling their current home. The sellers home closed and then the client closed on their new home.
In this competitive sellers market it is challenging to navigate the waters. Carl will assist you with reaching your Real Estate goals. His many tools position you as the client in a place of strength in this market. Call Carl 919-880-0904 and let him know your challenge in Real Estate.
Click here to learn more about why NOW is the time to sell.
Per the October report from Triangle MLS:
"The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates."
In Chatham County, there was a 13.5% percent decrease in new listings in October. Year to date, the number of closed sales decreased from 1,467 to 1,458, a 0.6 percent decrease compared to 2020. Median sales prices increased by 16.7 percent. In October, Chatham County median sales price was comparable to the median sales price for all MLS listings.
In Durham County, closed sales have increased 3.0 percent year to date. Median sales price has increased 18.0 percent from this time last year, moving from $288,000 to $339,900. Average sales price increased by 18.8% year to date. In October, the Durham County median sales price was higher compared to the median sales price of all MLS listings.
The number of listings in Orange County has increased by 6.6 percent. There was a 7.9 percent increase in closed sales year to date. Additionally, median sales price increased by 26.2 percent, from $325,000 to $409,900. In October, Orange County median sales price greatly exceeded the median sales price for all MLS listings.
The number of listings in Person County has increased by 7.7 percent, from 405 new listings year to date last year to 436 new listings this year. There was a 8.9 percent increase in closed sales. Additionally, median sales price increased by 11.0 percent, from $193,750 to $215,000. In October, Person County median sales price was far below the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.5 percent in the number of new listings year to date compared to last year. The number of closed sales increased 0.5 percent from 19,005 to 19,096. Median sales prices also increased by 16.4 percent year to date, rising to $390,000. Compared to the median sales price for all MLS listings, Wake County median sales price were on par for October.
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Now is a great time to prepare and consider selling your home. If not in Nov & Dec 2021, consider early January 2022.
New construction has been steadily rising throughout the year, as noted in this National Association of REALTORS® article by Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS®. Dr. Yun points out that while these new construction homes aren't geared towards first time buyers due to their larger size and higher price, they will appeal to "trade-up" buyers, increasing available inventory.
The News and Observer points out that this trend in new housing has already been noticed in the Triangle, particularly southwest and west Wake County. Interest rates are predicted to rise, reaching as high as 3.5% through the end of 2022 according to Realtor.com.
Good news for sellers however! This article also points out that we are likely to continue to see an upwards trend in housing prices due to new large-scale companies move to the area. If you are interested in what companies are coming, click here for more info.
All in all, inventory is increasing, if you want to take advantage of the market, sell now!
Call Carl today for YOUR custom marketing plan.
Carl will make your listing stand out in the crowd
Call Carl 919 - 880 - 0904
Our daily use of technology allows us to stay in touch with people across the world. It may be hard to think of ways to show our appreciation when we aren't in person. The article below gives you some ideas on how to express your gratitude in a digital age:
Interested in upgrading your bathroom or kitchen? Click here to help determine which would be best for you.
As the holiday season approaches, gratitude becomes front and center in our minds, allowing us to focus on what we have instead of what we lack. Take some time to appreciate those around you with some of the tips below:
Click here for some ideas about taking some time away from your digital devices with a detox.