Per the July report from Triangle MLS:
"After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for home buyers, who have struggled with a lack of supply and rocketing sales prices during the pandemic. For the 12-month period spanning August 2020 through July 2021, Under Contract Sales in Triangle area were up 11.7 percent overall."
In Chatham County, there was a 36.1% percent decrease in new listings in July. Similarly the year to date new listings, compared to last year, decreased from 1,052 to 1,028. The number of closed sales increased from 794 to 927, a 16.8 percent increase. Median sales prices also increased by 17.1 percent. In July, Chatham County median sales price was slightly above the median sales price for all MLS listings.
In Durham County, new listings decreased by 0.7 percent and closed sales have increased 5.1 percent year to date. Median sales price has increased 21.9 percent from this time last year, moving from $291,250 to $355,000. Average sales price increased by 22% year to date. In July, the Durham County median sales price was comparable to the median sales price of all MLS listings.
The number of listings in Orange County has increased by 9.1 percent, from 1,305 new listings year to date last year to 1,424 new listings this year. There was a 16.7 percent increase in closed sales. Additionally, median sales price increased by 29.3 percent, from $321,000 to $415,000. In July, 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 7.2 percent, from 279 new listings year to date last year to 299 new listings this year. There was a 19.7 percent increase in closed sales. Additionally, median sales price increased by 14.9 percent, from $190,000 to $218,325. In July, Person County median sales price was comparable to the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.6 percent in the number of new listings year to date compared to last year. The number of closed sales increased 5.4 percent. Median sales prices also increased by 20.9 percent for July 2021 compared to July 2020. Compared to the median sales price for all MLS listings, Wake County median sales price were level in July.
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