Chatham County Real Estate - Fall 2012 Trends
How is the real estate market in Chatham County? What's the lastest with Chatham County real estate? Those are the questions I am hearing these days. The answwer is....it's a little good and a little bad... In October the # of sales has increased by 17.5% according to the Triangle Multiple Listing Service (TMLS). This is good. The average sales price in Chatham County has also increased by 9.9%. This too is a good statistic. Lastly, the total sales volume of sold homes in Chatham County has increased in October 2012 from $11.6 million to $14.9 million, a 28.6% increase.
So you may ask, "what is so bad about the Chatham market?". Well, the supply of inventory of homes for sale. It is at a 10.7 months supply of homes. The National Association of REALTORS say a 6 month supply of homes is a balanced market. So, at the current rate in which homes are selling in Chatham County it would take 10.7 months for all homes to be gone. It is definitely a BUYER'S MARKET in Chatham County right now.
Fortunately, in October 2011 we had a 13.7 months supply of homes in Chatham. So on the bright side, the market is improving.
Another piece of information to note is the days on market until a home sells is up 7.8% to 138 days. So if you are looking to sell your Chatham County home, it may take upwards of 4 months to sell.
*All data is from the Triangle MLS. Information accurate but not guaranteed.
To view the Full October 2012 Market Report.
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