December Market Update

Per the December report from Triangle MLS:
"The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic."


In Chatham County, there was a 0.1% increase in new listings in December. The number of closed sales increased from 1,454 to 1,568, a 7.8 percent increase. Median sales prices also increased by 17.1 percent. In December, Chatham County median sales price was on par with the median sales price for all MLS listings.

In Durham County, closed sales have increased 3.3 percent year to date. Median sales price has increased 33.3 percent when compared to December last year, moving from $300,00 to $400,000. Average sales price increased by 20.4% year to date. In December, 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 7.1 percent, from 2,040 new listings year to date last year to 2,185 new listings this year. There was a 8.4 percent increase in closed sales. Additionally, median sales price increased by 23.5 percent, from $328,000 to $405,072. In December, Orange County median sales price were below the median sales price for all MLS listings.

The number of listings in Person County has increased by 5.1 percent, from 475 new listings year to date last year to 499 new listings this year. There was a 13.5 percent increase in closed sales. Additionally, median sales price increased by 10.5 percent, from $199,000 to $219,900. In December, 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 decreased 0.7 percent. Median sales prices increased by 17.0 percent year to date, rising to $395,000. Compared to the median sales price for all MLS listings, Wake County median sales price were on par for September.

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