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2013 Update on Residential Real Estate in Orange & Chatham Counties
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2013 Update on Residential Real Estate in Orange & Chatham Counties

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This content was presented by Mark Zimmerman at the 2013 Orange-Chatham Development Briefing. The error in dates was one in computer formatting, not of the presenter. Please refer to this PDF for …

This content was presented by Mark Zimmerman at the 2013 Orange-Chatham Development Briefing. The error in dates was one in computer formatting, not of the presenter. Please refer to this PDF for the best information on residential real estate.

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  • 1. Orange-­‐Chatham  County     Development  Briefing   The  Residen;al  Real  Estate  Market   September  11,  2013   Mark  Zimmerman   All  data  provided  by  Triangle  Mul;ple  Lis;ng  Service   and     10K  Research  and  Marke;ng  
  • 2. 2012  Through  2013   Do  We  Have  Momentum  Yet?  
  • 3. 25  
  • 4. 25   15  
  • 5. 25   15   21  
  • 6. 25   Triangle   15   Orange   County   21   Chatham   County   Consecu;ve  Month  Sales  Growth   Increase  vs  YA    
  • 7. 2012  was  a  Good  Year   2013  is  a  Be'er  Year   •  Sales  up   •  Prices  up   •  Days  on  Market  down   •  Inventory  down  
  • 8. Bye,  Bye  Buyers  Market   •  Market  Back  to  Equilibrium  or  BeUer   – 6  months  supply  in  Chatham   •  vs  8  months  YA   – 4  months  supply  in  Orange   •  vs  6  months  YA  
  • 9. 0%   20%   40%   60%   80%   100%   120%   140%   160%   Triangle  Sales  vs  YA   0   500   1000   1500   2000   2500   3000   3500   Triangle  Sales   Triangle  Strong  
  • 10. 0   50   100   150   200   250   300   Orange  County  Sales   0%   20%   40%   60%   80%   100%   120%   140%   160%   Orange  County  Sales  vs  YA   Orange,  Too.  
  • 11. 0   20   40   60   80   100   120   Chatham  County  Sales   0%   20%   40%   60%   80%   100%   120%   140%   160%   180%   Chatham  County  Sales  vs  YA   And  Chatham  
  • 12. 0   2000   4000   6000   8000   10000   12000   14000   16000   18000   Triangle  Inventory   Moving  Thorough  Inventory   0%   20%   40%   60%   80%   100%   120%   Triangle  Inventory  vs  YA  
  • 13. $180,000   $190,000   $200,000   $210,000   $220,000   $230,000   $240,000   $250,000   Triangle  Ave  Sales  Price   0   20   40   60   80   100   120   140   160   Triangle  Days  on  Market   Selling  Faster,  For  More   $242,153    95  
  • 14. 0   200   400   600   800   1000   1200   Orange  County  Inventory   Moving  Thorough  Inventory   0%   20%   40%   60%   80%   100%   120%   Orange  County  Inventory  vs   YA  
  • 15. Selling  Faster,  For  More   $0   $50,000   $100,000   $150,000   $200,000   $250,000   $300,000   $350,000   $400,000   Orange  County  Ave  Sales   Price   0   50   100   150   200   Orange  County  Days  on   Market   $345,607    99  
  • 16. 84%   86%   88%   90%   92%   94%   96%   98%   100%   102%   104%   Chatham  County  Inventory  vs   YA   0   100   200   300   400   500   600   700   800   Chatham  County  Inventory   Moving  Thorough  Inventory  
  • 17. $0   $50,000   $100,000   $150,000   $200,000   $250,000   $300,000   $350,000   $400,000   $450,000   Chatham  County  Ave  Sales   Price   0   20   40   60   80   100   120   140   160   180   Chatham  County  Days  on   Market   Selling  Faster,  For  More   $320,040    112  
  • 18. 1st  Half  2013  -­‐  Sales  vs  YA   New  Construc;on   Triangle   Orange   Chatham   Total   +28%   +30%   +29%   New   +12%   +63%   +8%   Resale   +32%   +28%   +40%   %  New   19%   13%   39%  
  • 19. 1st  Half,  2013  Sales  by  Price     23%   41%   22%   14%   Orange  County  Price  Points   0-­‐200   200-­‐400   400-­‐600   600+   21%   50%   23%   6%   Chatham  County  Price  Points   0-­‐200   200-­‐400   400-­‐600   600+  
  • 20. Detached  vs  Condo/Townhouse   1st  Half  2013   72%   28%   Orange  County   Detached   Mul;   91%   9%   Chatham  County   Detached   Mul;  
  • 21. We  Are  Less  Distressed   •  TMLS  distressed  lis;ngs  down     – -­‐38%  below  YA   •  Only  3%  of  Lis;ngs   – vs  5%  YA  
  • 22. 2013       Momentum  Has  Shiced   •  Sales,  Prices  up   •  Inventory,  Days  on  Market  down   •  Showings,  Pendings  Remain  Strong   •  Moving  to  a  Seller’s  Market   •  Coming  Shortage  of  New  Construc;on  
  • 23. 2013       Momentum  Has  Shiced