Cary Apex Morrisville (CAM area) NC Market Report for May 2009
Market reports coming in from various places around the US seem to be showing improvements. We're all looking for that to continue as we head into the summer months. According to The National Association of Home Builders half of all U.S. households (55 million to be exact) can now afford to buy the median priced $200,000 new home. That's up 45 percent in the past 24 months.
This report will bring you up to date information on what is happening in the Cary, Apex, Morrisville areas of Raleigh NC. for all detached homes as reported in the Triangle Multiple Listing Service (TMLS).
Inventory grew according to Stacey Anfindson by 4% in Apex, 3% in Cary and decreased by 8% in Morrisville.
Now the average prices are falling too - Apex -9%, Cary -7%, and Morrisville -3%. And Stacey goes on to say " The market has changed dramatically comparing 1Q/08 with 1Q/09. During the first quarter of 2008, the average seller accepted offers that were +/-3% off of original list price. During the first quarter of this year, the average seller accepted offers that were +/-8% off of original list price. In listings where the final list price was equal to the original list price, the average days on market was between 30 and 52. In listings where the final list price was less than the original list price, the average days on market was between 115 and 138.
Here's how things shook out for May
Below is the report from CSS (Centralized showing service) indicating the total number of showings for all of the TMLS area (Triangle Multiple Listing Service) for April's showings
The following chart will highlight the most sizzling subdivisions in the Cary, Apex, Morrisville area
chart courtesy of Stacey Anfindson
We'll continue to watch as the month of June usually brings a lot of activity in our market. Weather is great - kids are out of school and it's a perfect time to house hunt. And with the 1st time home buyers $8,000 tax credit and the MCC additional $2,000 things could get rather busy...
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About the author: Pamela is a Realtor in Raleigh NC with The St. Peter HomeSelling Team at Prudential YSU Realty serving the Raleigh NC (Triangle & Wake County) area.
"We are a team of passionate North Carolina Real Estate Brokers dedicated to connecting our clients to success in home buying and home selling in the Triangle." Pamela can be reached via email at Pamela@RaleighHomesOnline.com or by calling (919) 645-2522.
For all your Wake County real estate needs The St. Peter HomeSelling Team serves the following areas in Wake County; Raleigh, Cary, Apex, Morrisville, Holly Springs, Fuquay Varina, Garner, Wake Forest, Knightdale.
I am just listening to the news, and they were saying that over the last few months, the pending sales in the United States, have actually all been closing (or the majority have been closing).
That's great news. :)
Nice summary ! ...and good news with the increased showings ! ... hopefully the closings keep coming :o)
Cheers !
Sheldon
Sylie, let's keep spreading the good news. Hope your TO market is showing good signs too.
Thanks Sheldon. I agree - keep those closings moving forward!