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Tag: Stats

  • June 2024 Market Stats

    June 2024 Market Stats

    Despite a recent dip in new home sales, there’s good news on the horizon! Sales fell to 619,000 units, but the overall median sales price rose by 5.67% to $419,975. Townhouses and condos saw prices increase by 1.5% to $341,950. Homes under $150,000 are selling fast, averaging just 34 days on the market! Plus, inventory levels have jumped by 65.08%, providing more options for buyers.
    Written by RE/MAX Essential
  • May 2024 Market Stats

    May 2024 Market Stats

    U.S. existing-home sales dipped for the second month, down 1.9% month-over-month and year-over-year, per NAR. Despite this, there are positive trends: inventory for single-family homes rose 12.9% and for condos by 63%. Single-family home prices edged up to $450,000, while condo prices dipped to $320,000. National home prices hit a record high of $407,600. With more options and adjusting prices, it’s a great time for buyers and sellers!
    Written by RE/MAX Essential
  • March 2024 Market Stats

    March 2024 Market Stats

    Great news! Although there was a slight dip in U.S. sales of new residential homes, it's the first decline in three months, showing a stable market overall. Sales dipped just 0.3% month-over-month, but compared to last year, they're up by a solid 5.9%! Even better, the median sales price softened, dropping 7.6% year-over-year to $400,500, making homes more affordable for buyers. In Cape Fear, pending sales saw a decrease of 22.0% over the past year, but there's still plenty of positivity to go around. Despite some declines in certain price ranges, the overall median sales price increased by 2.3% to $399,000, with single-family homes leading the way with a 2.4% price increase. Plus, there's more inventory available, up by 9.6%, especially in the condo segment, which saw a whopping 30.7% increase. It's an exciting time for buyers and sellers alike!
    Written by RE/MAX Essential
  • February 2024 Market Stats

    February 2024 Market Stats

    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!
    Written by RE/MAX Essential
  • January 2024 Market Stats

    January 2024 Market Stats

    Great news! After a slight dip, the market for new residential homes is booming once again! Sales surged by 8% from last month and 4.4% from last year, reaching a seasonally adjusted rate of 664,000 units, according to the U.S. Census Bureau. This uptick is fueled by lower interest rates and a limited supply of existing homes, making new homes even more attractive. In 2023, sales of new homes saw a healthy 4.2% increase compared to 2022, hitting an estimated 668,000 units. Despite a 19.0% drop in pending sales in Cape Fear over the past year, there's reason to be optimistic. Even in the face of challenges, some price ranges are holding strong, like homes between $300,001 to $450,000, with only a 13.3% decrease in sales. Plus, the median sales price across the board climbed by 3.9% to $399,900, showing a positive trend. Single-family homes saw a particularly robust increase of 3.8% to $425,500. Homes priced between $150,001 to $300,000 are flying off the market in just 35 days, demonstrating strong demand. And while homes over $450,001 may take a bit longer to sell at 55 days, overall, inventory levels are up by 3.2%, offering more choices for buyers. Notably, condos saw a remarkable 30.7% increase in inventory. It's an exciting time in the real estate market!
    Written by RE/MAX Essential
  • December 2023 Market Stats

    December 2023 Market Stats

    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%.
    Written by RE/MAX Essential
  • November 2023 Market Stats

    November 2023 Market Stats

    Latest Real Estate Update! U.S. new residential home sales dipped 5.6% month-over-month but surged 17.7% year-over-year due to low existing-home inventory. Median sales price declined 3.1% to $409,300 as builders focus on affordable, smaller homes. In Cape Fear, Pending Sales for Dec '22 - Nov '23 fell 18.3%, with $450,001+ range down 11.5%. Median Sales Price rose 5.0% to $398,900. Townhouse/Condo prices soared 6.2% to $339,900. Homes priced $150,001 to $300,000 sold quickest (34 days), while $450,001+ took 53 days. Market-wide, inventory down 2.8%, with Condos inventory up 16.1%.
    Written by RE/MAX Essential