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The POWER of Understanding the Market $9.5 BILLION in sales in 10 years.

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Presentation on theme: "The POWER of Understanding the Market $9.5 BILLION in sales in 10 years."— Presentation transcript:

1

2 The POWER of Understanding the Market

3 $9.5 BILLION in sales in 10 years

4 63,622 Sales in 10 years

5 A Look at 2013

6 Total Existing Homes ,840 Existing Homes Purchased $501,000,000 Total Value $130,480 Average Price 67% of the Home Sales Market

7 Total Existing Homes 23% more houses sold 2013 vs ,840 vs. 3,132

8 Total Existing Months Supply 10.5 Months Supply A balanced market is 6 months supply Good News Months Supply of inventory has been falling since July 2012

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10 Oversupply in every price range

11 Cumberland County Existing Homes ,464 Existing Homes Purchased $299,651,575 Total Value $111,550 Average Price

12 Cumberland County Months Supply of Existing Housing 10 Month Supply A balanced market is 6 months supply Good News Months Supply of inventory has been falling since July 2012

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14 Harnett County Existing Homes Existing Homes Purchased $71,440,813 Total Value $149,250 Average Price

15 Harnett County Months Supply of Housing 12 Month Supply A balanced market is 6 months supply Good News Months Supply of inventory has been falling since July 2012

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17 Hoke County Existing Homes Existing Homes Purchased $42,817,969 Total Value $129,900 Average Price

18 Hoke County Months Supply of Housing 8.6 Month Supply A balanced market is 6 months supply Good News Months Supply of inventory has been falling since July 2012

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20 Some interesting things…

21 Top 35% = 19 Days Bottom 65% = 116 Days Days on the Market OVERPRICED!

22 85% of Existing Houses closed in less than 180 days 3,238 / 3,839

23 80% of all existing house sales were under $180,000

24 Financing Choices VA Loans FHA Loans Conventional Cash 1, ,123

25 10 Year Appreciation Rates 10 year average Appreciation 2.03%

26 2014 looks a little better than 2013

27 2014 Home Sales 6,000 Total Sales 4,200 Existing Sales 1,800 New Construction

28 What the future looks like? Volume of Sales will increase 3-5% Existing Home sale prices will reduce by 1-2% until excess existing inventory has been sold 2014 looks a lot like 2013…steady growth

29 This presentation is recorded and available at FayettevilleNCRealtors.com


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