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December 2023 Market Stats

December 2023 local stats are out!

Latest Real Estate News! U.S. home sales dropped 12.2% to 590,000, the lowest since Nov 2022, because of high mortgage rates. But there’s good news! The National Association of Home Builders says sales will likely go up as mortgage rates fall. In Cape Fear, home sales from Jan to Dec ’23 fell 18.1%, especially for homes over $450,001, which went down 12.0%. The average home price increased 4.6% to $399,000. Townhouse/Condo prices went up 6.2% to $339,990. Homes between $150,001 to $300,000 sold the fastest (35 days), while homes over $450,001 took 54 days. Overall, there’s a bit more homes on the market, up 1.0%, with Condos up 18.4%.

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