NEW at the bottom of this blog page, be sure to see the data about two counties at The Crystal Coast, Swansboro to Beaufort.
According to the Triangle MLS in July 2023, “affordability constraints have continued to limit homebuying activity this summer, with existing-home sales falling 3.3% month-over-month nationwide. New Listings in the Triangle region decreased 25.2 % to 3,627. Under Contract Sales were down 0.9 % to 3,270. Inventory levels fell 16.5 % to 5,192 units. Prices were fairly stable. The Median Sales Price decreased 1.0 % to $416,000. Days on Market was up 66.7 % to 20 days. Absorption rates were even with last year as Months Supply of Inventory remained flat at 1.7 months.”
The Triangle MLS goes on to point out that, "despite a drop in existing-home sales, home prices have remained near record highs, with a national median sales price of $410,200 as of last measure, 0.9% below the all-time high of $413,800 recorded in June 2022, according to according to the National Association of REALTORS® (NAR). With only 3.1 months’ supply heading into July, the lack of inventory has boosted competition among buyers and put upward pressure on sales prices, especially in more affordable markets, where competition for homes remains particularly strong.”
In Durham County, the average July median sales price increased from $412,000 in 2022 to $423,00 this year, or by 2.7%. New listings and closed sales both decreased, by 33.7% and 29.8% respectively, but the July median sales price in Durham County was on par with the median sales price across all the MLS listings.
In Orange County, there was a 20.3% decrease in new listings in July. The number of closed sales decreased between 2022 and 2023, falling from 161 to 136 or by 15.5%. The median sales price increased by 3.5%, which meant in July, Orange County's median sales price was on par with the median sales price for all MLS listings.
In Wake County, there was a decrease of 31.2% in the number of new listings compared to July of last year. The number of closed sales also decreased, by 19.2% percent. The median sales prices decreased by 0.4% year to date, to $488,250, which is higher than the median sales price for all MLS listings.
In Carteret County, there were 141 new listings, comprising residential and multi-family properties. There were 148 sold properties in July. While the average list price was $694,215, the average sales price was $497,921, the average list price shows to be increasing significantly in August, which is good news for sellers.
In Onslow County, there were 1,128 active and 458 new listings in July, comprising residential and multi-family properties. There were 466 sold properties in July. While the average list price was $380,029, it shows to be increasing to an average of $427,399 thus far in August.
If you’re ready to buy or sell at the beach in Carteret or Onslow County, Carl Johnson Real Estate can help you at the Crystal Coast. Give us a call at Carl Johnson Real Estate--919-880-0904 to learn more about how we will help.
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