LOCAL MARKET UPDATE - August 2022

Per the August report from Triangle MLS:
"In Chatham County, there was a 12.3% increase in new listings in August from last year. The number of closed sales decreased between 2021 and 2022, dropping from 1,064 to 877. Median sales prices also increased by 23.8 percent. 

In Durham County, closed sales have decreased 9.1 percent year to date. Median sales price has increased 24.2 percent when compared to August last year, moving from $331,000 to $411,000. Average sales price increased by 18.9% year to date. ​

The number of listings in Orange County has decreased by 13.2  percent, from 1,608 new listings year to date last year to 1,396 new listings this year. There was a year to date 12.1 percent decrease in closed sales. Additionally, median sales price increased by 9.9 percent, from $413,845 to $455,000. 

The number of listings in Person County has increased by 7.3 percent, from 355 new listings year to date last year to 381 new listings this year. There was a 0.6 percent increase in closed sales.  Additionally, median sales price increased by 21.7 percent, from $217,750 to $265,000.

In Wake County, there was a decrease of 3.2 percent in the number of new listings year to date compared to last year. The number of closed sales decreased 13.5 percent. Median sales prices increased by 22.9 percent year to date, rising to $471,000. 

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