February 2024 local stats are out!

February 2024 local stats are out! And good news! More new homes are selling across the country, with sales up by 1.5% from last month and 1.8% from last year, reaching a seasonally adjusted rate of 661,000 units, according to recent data. The median sales price also saw a positive uptick of 1.8% to $420,700, showing that the market is thriving. Even though pending sales in Cape Fear were down by 19.1% over the past year, there’s still room for optimism. Despite some declines in certain price ranges, overall median sales price increased by 3.6% to $399,900. Townhouse/Condo prices went up by 3.0% to $339,900, indicating a healthy market. Homes priced between $150,001 to $300,000 are selling fast at 35 days, and while higher-priced homes may take a bit longer at 55 days, the market is still moving. Plus, there’s more inventory available, up by 4.8%, especially in the condo segment, which saw a whopping 32.0% increase. It’s a great time for buyers and sellers alike!