Local Market Update - October 2022
Per the October report from Triangle MLS:
"In Chatham County, there was a 2.9% decrease in new listings in October from last year. The number of closed sales decreased between 2021 and 2022, dropping from 1,305 to 1,089. Median sales prices also increased by 19.1 percent.
In Durham County, closed sales have decreased 12.0 percent year to date. Median sales price has increased 20.6 percent when compared to October last year, moving from $339,848 to $410,000. Average sales price increased by 16.5% year to date.
The number of listings in Orange County has decreased by 14.9 percent, from 1,967 listings last year to date to 1,674 new listings this year. There was a year to date 11.3 percent decrease in closed sales. Additionally, median sales price increased by 9.9 percent, from $409,495 to $450,000.
The number of listings in Person County has increased by 3.0 percent, from 436 new listings last year to date to 449 new listings this year. There was a 5.4 percent decrease in closed sales. Additionally, median sales price increased by 18.6 percent, from $215,000 to $255,000.
In Wake County, there was a decrease of 7.3 percent in the number of new listings year to date compared to last year. The number of closed sales decreased 15.2 percent. Median sales prices increased by 20.5 percent year to date, rising to $470,000.
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