Chatham County Real Estate - Fall 2012 Trends chatham county court house

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'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.

To learn more about the real estate market in Chatham County, Contact Us.

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