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The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Median Sales Price
$250,000

Median Sa...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Total Units Sold
3,500

Total Units So...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Total Units Sold by Type

Total Units ...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Total Active Inventory
20,000

4,000

...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Total Active Inventory by Type
Detache...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Sale Price as % of List Price

Average...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
Total Dollar Volume Sold
In Thousands
...
The Long & Foster ® Market Conditions Report
The Triangle, NC Area - September 2013
New Listings & New Contracts

Johnston...
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The Triangle Area, NC Market Conditions Report

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The Triangle Area, NC Market Conditions Report

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Transcript of "The Triangle Area, NC Market Conditions Report"

  1. 1. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Median Sales Price $250,000 Median Sale Price $50,000 Wake County $0 Durham County Johnston County Orange County $294,900 $283,499 $285,750 $153,000 $150,485 $273,500 Current Month $168,100 $164,900 $100,000 $209,055 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 $217,500 One Year Ago $199,000 $213,500 $209,045 $208,500 $208,000 $198,000 $199,900 $187,000 $185,500 $197,000 $204,000 $192,500 $192,000 $199,000 $205,000 $197,000 $196,000 $193,000 $182,000 $179,900 $194,500 $193,325 $189,700 Chatham County Median Sale Price Percent Change Year/Year 7% Highlights 2% 4% 4% 1% 1% 4% 3% 4% 3% 3% 6% -2% 0% -1% 0% -5% -5% -6% -5% -4% -4% ● The current median sale price was 7% lower than in August. 2% 2% 3% 3% 4% 3% 6% 2% ● This September, the median sale price was $199,000, an increase of 4% compared to last year. 6% 8% 1% $150,000 $189,000 $200,000 $200,000 Of Top Five Counties/Cities Based on Total Units Sold 38
  2. 2. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Total Units Sold 3,500 Total Units Sold 2,724 1,842 2,151 One Year Ago Current Month 1,000 800 76 60 99 91 200 225 171 400 274 253 600 1,553 1,428 1,699 1,860 1,110 2,952 2,910 2,963 2,489 1,200 2,152 2,271 2,160 1,880 1,805 1,682 1,400 1,067 1,380 1,431 1,330 1,000 1,398 1,500 1,568 2,000 2,477 2,204 2,500 1,285 Of Top Five Counties/Cities Based on Total Units Sold 3,000 0 500 Wake County Durham County Johnston County Orange County Chatham County 0 Total Units Sold Percent Change Year/Year ● There was a decrease of 21% in total units sold in September compared to August. 14% 20% 37% 17% 34% 38% 13% 28% 34% 33% 26% 20% 26% 22% 6% 12% 4% 1% 7% 10% 14% 20% 13% 30% 27% 27% 40% ● This month's total units sold was higher than at this time last year, an increase of 14% versus September 2012. 29% 50% 28% Highlights 0% -10% -20% -30% -40% 39
  3. 3. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Total Units Sold by Type Total Units Sold by Type Detached Attached Current Month Condo 3,500 Detached Attached Condo 3,000 2,500 335 16% 2,000 90 4% 1,500 1,000 500 1,726 80% 0 Total Units Sold by Price Range < 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up Total Units Sold by Price Range Current Month 1,600 1,400 < 150K 450K to < 600K 150K to < 300K 600K and up 300K to < 450K 1,200 108 56 5% 3% 1,000 800 600 357 16% 625 29% 400 200 0 1,005 47% 40
  4. 4. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Total Active Inventory 20,000 4,000 7,182 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 728 Orange County 541 930 Johnston County 657 1,515 Durham County 1,147 1,925 Wake County 2,000 1,310 6,000 Current Month 4,711 10,012 10,354 10,431 10,660 10,690 8,000 10,761 10,966 11,098 11,099 13,270 11,254 10,000 13,879 One Year Ago 14,250 14,698 14,852 15,105 15,337 15,306 15,058 14,516 14,293 14,208 12,000 Of Top Five Counties/Cities Based on Total Units Sold 16,198 14,000 Total Active Inventory 16,815 16,000 17,482 18,000 Chatham County 0 Total Active Inventory Highlights ● September's total active inventory of 10,012 units was 3% lower than the previous month's supply of inventory. Percent Change Year/Year 0% -5% -10% -30% -30% -30% -29% -30% -22% -24% -21% -17% -18% -18% -20% -21% -21% -22% -19% -22% -24% -27% -30% -35% -24% -30% -20% -25% -18% -20% -17% ● Versus last September, the total number of homes available was lower by 4,238 units or 30%. -16% -15% -40% 41
  5. 5. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Total Active Inventory by Type Detached Attached Total Active Inventory by Type Condo Current Month Detached 20,000 Attached Condo 18,000 16,000 415 1,039 4% 10% 14,000 12,000 10,000 8,000 6,000 8,558 86% 4,000 2,000 0 Total Active Inventory by Price Range < 150K 20,000 150K to < 300K 300K to < 450K 450K to < 600K 600K and up Total Active Inventory by Price Range Current Month < 150K 450K to < 600K 150K to < 300K 600K and up 300K to < 450K 18,000 16,000 14,000 12,000 10,000 8,000 774 8% 848 8% 2,666 27% 1,647 16% 6,000 4,000 2,000 4,077 41% 0 42
  6. 6. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Sale Price as % of List Price Average Sale Price as a Percent of List Price Of Top Five Counties/Cities Based on Total Units Sold 95.5% Wake County 95.0% Durham County Days on Market Current One Year Month Ago 94.5% 96 140 130 120 110 134 133 126 132 126 90 96.4% 96.0% 96.7% 96.9% Chatham County 117 97.5% 96.8% Up 0.7% Vs. Year Ago by Price Range 136 100% < 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up 99% 125 115 119 120 116 117 121 117 116 119 98% 121 97% 112 96% 109 95% 100 100 Orange County Average Sale Price as a Percent of List Price Days on Market 138 Johnston County Avg Sale Price as % of List Price Current One Year Month Ago Down -18% Vs. Year Ago 150 Current Month 97.4% 97.8% 96.5% 97.7% 97.5% 100.0% 99.0% 98.0% 97.0% 96.0% 95.0% 94.0% 93.0% 97.0% One Year Ago 97.9% 97.8% 97.8% 97.9% 97.6% 97.3% 96.9% 97.2% 97.1% 97.3% 96.8% 97.0% 97.0% 97.0% 96.1% 96.3% 96.2% 95.9% 96.0% 96.2% 96.3% 96.5% 96.9% 96.7% 97.0% 97.2% 97.5% 97.6% 98.0% 97.1% 98.5% 95 94 93 96 94% 93% 92% 91% 80 90% 43
  7. 7. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 Total Dollar Volume Sold In Thousands Highlights $100,000 $509,990 $682,904 $734,211 $735,991 $595,059 $510,778 $338,021 $321,002 $437,300 $405,775 $428,300 $424,250 $548,227 $417,622 $383,806 $295,248 $232,419 $331,096 $200,000 $302,972 $300,000 $312,073 $359,964 $400,000 $513,109 $500,000 $524,186 $600,000 $615,271 $700,000 $733,342 $800,000 ● Total volume sold this September was 20% greater than the same month one year ago. ● In September, there was 4.7 months of supply available, compared to 7.6 in September 2012. That was a decrease of 39% versus a year ago. $0 Months of Supply Total Dollar Volume Sold Current One Year Month Ago Current Month's Active Inventory/Current Month's Unit Sales 16 14 13.4 12.2 7.2 4.7 3.8 3.7 3.6 4.3 6.1 7.8 7.8 7.5 7.6 6.5 6.9 6.1 8.5 10.5 12.0 $424,250,493 Months of Supply Current One Year Month Ago 3.5 2 5.1 4 7.0 6 9.0 8 $509,990,449 Up 20% Vs. Year Ago 9.9 10 11.2 12 4.7 7.6 Down -39% Vs. Year Ago 0 44
  8. 8. The Long & Foster ® Market Conditions Report The Triangle, NC Area - September 2013 New Listings & New Contracts Johnston County Orange County 99 101 137 333 288 403 1,716 1,474 342 Durham County Current Month 139 3,434 Wake County 3,044 3,246 Chatham County One Year Ago 66 56 89 87 500 0 224 232 1,000 144 1,500 279 2,000 Current Month 1,336 2,500 1,010 2,423 Of Top Five Counties/Cities Based on Total Units Sold 2,209 3,583 One Year Ago New Contracts 2,455 3,026 2,735 3,908 4,147 3,053 2,251 2,823 3,299 2,904 1,954 1,650 2,000 1,500 1,000 500 0 1,422 1,521 1,864 1,702 1,963 2,072 2,053 2,767 2,654 3,005 2,951 3,143 3,348 2,426 2,160 2,207 1,773 2,234 2,883 1,181 1,263 500 1,395 1,000 1,386 1,500 1,613 2,000 1,621 2,082 2,500 2,417 3,000 2,539 3,500 2,981 4,000 3,482 3,946 4,500 New Listings Of Top Five Counties/Cities Based on Total Units Sold New Contracts (Under Active Contract Status) 3,997 New Listings 0 Wake County New Listings Current One Year Month Ago 3,044 2,654 Up 15% Vs. Year Ago New Contracts Current One Year Month Ago 2,209 1,702 Highlights ● Based on this month's amount of new listings and new contracts, the ratio of home supply (new listings) to current home demand (new contracts) was 1.4, a decrease of 12% from September 2012. Durham County Johnston County Orange County Chatham County Supply/Demand Ratio Number of New Listings to New Contracts 2.0 1.8 1.8 1.7 1.8 1.6 1.6 1.4 1.2 1.4 1.7 1.8 1.6 1.4 1.5 1.4 1.5 1.6 1.5 1.5 1.5 1.3 1.4 1.4 1.3 1.3 1.3 1.4 1.4 1.2 1.0 0.8 0.6 0.4 Up 30% Vs. Year Ago 0.2 0.0 45
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