the power of understanding the market $9.5 billion in sales in 10 years
TRANSCRIPT
The POWER of Understanding the Market
$9.5 BILLION in sales in 10 years
2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
2
4
6
8
10
12
63,622 Sales in 10 years
2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
2
4
6
8
10
12
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 SupplyA balanced market is 6 months supply
Good News Month’s 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 CountyMonths Supply of Existing Housing
10 Month SupplyA balanced market is 6 months supply
Good News Month’s 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 CountyMonths Supply of Housing
12 Month SupplyA balanced market is 6 months supply
Good News Month’s 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 CountyMonths Supply of Housing
8.6 Month SupplyA balanced market is 6 months supply
Good News Month’s 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 Housesclosed in less than
180 days3,238 / 3,839
80% of all existing house sales were under $180,000
Financing Choices• VA Loans• FHA Loans• Conventional• Cash
1,5113326391,123
10 Year Appreciation Rates
2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
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4
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10 year average Appreciation
2.03%
2014 looks a little better than 2013
2014 Home Sales6,000 Total Sales
4,200 Existing Sales1,800 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