Local Market Update - February 2023

Per the February report from Triangle MLS:
Across the entire Triangle region, the median sales price went from $374,900 to $385,000, which is a nearly 3% increase compared to February of last year. New listings were down, though, by 12.5%, not unusual for this time of year. Also decreased was the number of closed sales, which were 2,431.

In ​Chatham County, year-to-date, there the number of closed sales decreased by just over 6%. The median sales prices also dropped, by nearly 21%. The average sales price decreased as well, to $605,928, while the inventory of homes for sale increased to 240. 

In Durham County, closed sales have decreased 12.5% year to date. The average sales price increased by 2.9% to $418,917, while the median sales price fell to $383,067. New listings decreased to 402 or by 7.2%. The inventory of homes for sale went up by nearly 52% to 461 homes.

The number of listings in Orange County has decreased by 28.9%, from 121 new listings year-to-date last year to 86 new listings this year. There was a year-to-date 42.1% decrease in closed sales. The median sales price, also fell by just over 4%, from $425,000 to $407,450. The inventory of homes for sale rose to 105.

The number of listings in Person County decreased by 8.8%. There was 27% decrease also in closed sales. But the median sales price increased by nearly 4% to $249,000. The inventory of homes for sale went up by 58.3% to 38 homes.

In Wake County, the median sales price increased by 2.6% to $446,355. But there was a decrease of 19.4% in the number of new listings year-to-date compared to last year and a 14.4% drop of closed sales. The inventory of homes for sale rose to 1,797, which is a nearly 150% increase. 

If you’re ready to buy outside these markets, Carl Johnson Real Estate can help you look for your dream property at the Crystal Coas. Give us a call at Carl Johnson Real Estate--919-880-0904—to learn more about how we can help get you to where you want and need to be. 
​
​To learn more about the Crystal Coast Communities CLICK HERE