May market update

In Chatham County, there was a decrease in the number of new listings by 10.5%. In addition, there was also a decrease in the number of closed sales by 12.2%. However, there was an increase in the median sale price this May by 21%. Chatham County median sales price is below the median sales price for all MLS listings.

In Durham County, new listings have decreased this month by 28.4%. Closed sales, however, have also decreased by 34.2%. Median sales price has increased 2.5% from this time last year, moving from $278,000 to $285,000. Average sales price has also increased by 5.7%. In 2020, the Durham County median sales price is higher than the median sales price of all MLS listings.

In contrast to Durham County, the number of listings in Orange County has decreased by 21.7%. There was a 34.7% decrease in closed sales this May. Median sales price has increased by 4.2%, from $312,000 to $325,000. In 2020, Orange County median sales price is below the median sales price for all MLS listings.

In Wake County, there was a decrease in the number of new listings in May, which decreased by 21.7%, from 2,723 to 2,132. The number of closed sales decreased by 22.3%. However, median sales prices increased by 2.3%. In 2020, Wake County median sales price was slightly above the median sales price for all MLS listings.