November Market Update

Per the November report from Triangle MLS:
"The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory."

In Chatham County, there was a 1.2% percent increase in new listings in November. Year to date, the number of closed sales increased from 1,332 to 1,447, a 8.6 percent increase compared to 2020. Median sales prices increased by 17.6 percent. In November, Chatham County median sales price was slightly higher than the median sales price for all MLS listings.

In Durham County, closed sales have increased 3.2 percent year to date. Median sales price has increased 18.4 percent from this time last year, moving from $289,000 to $342,080. Average sales price increased by 19.3% year to date. In November, the Durham County median sales price was higher compared to the median sales price of all MLS listings.

The number of listings in Orange County has increased by 7.0 percent. There was a 9.5 percent increase in closed sales year to date. Additionally, median sales price increased by 23.5 percent, from $327,875 to $405,000. In November, Orange County median sales price were on par with the median sales price for all MLS listings. 

The number of listings in Person County has increased by 8.0 percent, from 438 new listings year to date last year to 473 new listings this year. There was a 10.6 percent increase in closed sales. Additionally, median sales price increased by 10.4 percent, from $194,750 to $215,000. In November, Person County median sales price was far below the median sales price for all MLS listings.

In Wake County, there was a decrease of 3.7 percent in the number of new listings year to date compared to last year. The number of closed sales increased 0.4 percent from 20,910 to 20,994. Median sales prices also increased by 16.7 percent year to date, rising to $392,000. Compared to the median sales price for all MLS listings, Wake County median sales price were on par for November.

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