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Published byMireya Hamlen
Modified over 4 years ago
The POWER of Understanding the Market
$9.5 BILLION in sales in 10 years
63,622 Sales in 10 years
A Look at 2013
Total Existing Homes - 2013 3,840 Existing Homes Purchased $501,000,000 Total Value $130,480 Average Price 67% of the Home Sales Market
Total Existing Homes 23% more houses sold 2013 vs. 2012 3,840 vs. 3,132
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
Oversupply in every price range
Cumberland County Existing Homes - 2013 2,464 Existing Homes Purchased $299,651,575 Total Value $111,550 Average Price
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
Harnett County Existing Homes - 2012 492 Existing Homes Purchased $71,440,813 Total Value $149,250 Average Price
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
Hoke County Existing Homes - 2012 339 Existing Homes Purchased $42,817,969 Total Value $129,900 Average Price
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
Some interesting things…
Top 35% = 19 Days Bottom 65% = 116 Days Days on the Market OVERPRICED!
85% of Existing Houses closed in less than 180 days 3,238 / 3,839
80% of all existing house sales were under $180,000
Financing Choices VA Loans FHA Loans Conventional Cash 1,511 332 639 1,123
10 Year Appreciation Rates 10 year average Appreciation 2.03%
2014 looks a little better than 2013
2014 Home Sales 6,000 Total Sales 4,200 Existing Sales 1,800 New Construction
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
This presentation is recorded and available at FayettevilleNCRealtors.com
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