HOMES SALES IN APEX, CARY, HOLLY SPRINGS, FUQUAY-VARINA, RALEIGH AND ALL OVER THE TRIANGLE NC
Plus -- Interest Rates are falling...again!
Homes sales in the Triangle NC increased in October by a whopping 32 percent! The Triangle has recorded double-digit increases in sales in each of the first three quarters of 2012
And, the extremely favorable mortgage rates sank even lower this week, setting records for both the 30-year and 15-year fixed rate loans. The 30-year fell to 3.31% from 3.34 percent last week and the 15-year rate averaged 2.63 percent compared with 2.65 percent a week ago. (Source: CNNMoney)
Let’s break down the numbers:
Pending Sales: ↑ 34 percent
Showings: ↑ 16 percent
Avg Days on Market: 114 (down from 123 in October, 2011)
Average Sales Price: ↑ 3 percent to $233,800
Homes for Sale: ↓ 20 percent to 8,474 and down 35 percent from one year ago
Months Supply: 5 months
ATTENTION: We are now in a Sellers Market – expect prices to continue to increase, competition to heat up, and multiple offer situations.
(Source: Triangle Multiple Listing Service)
Summary: A dwindling supply of available homes is creating an increasingly favorable environment for sellers and is resulting in increasing prices. The decrease in new construction plus pent-up demand is consuming the existing inventory. October is traditionally a time when we see a drop in the number of people looking to buy – this has not been the case this year. I have more buyer and selling clients than ever! Tired of paying ever-increasing rents, folks have repaired their credit & realize you can get more house for less money than they are paying in rent.
Moving, Relocating, Searching for a Home in the Triangle, NC? Take a look at some of the fantastic bargains still available:
PS: This Friday, 11/30 the tree will be lit in Historic Downtown Apex. Be sure to stop by, grab a hot coffee or cocoa at Common Grounds Coffee, see the most magnificent horses & go for a sleigh ride, smile at your neighbors & meet the Big Man, ‘cause Santa is Coming to Town!
For more info on Downtown Apex Activities
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