the triangle area, nc market conditions report
DESCRIPTION
The Triangle Area, NC Market Conditions ReportTRANSCRIPT
® The Long & Foster Market Conditions Report
38
The Triangle, NC Area - September 2013
●
● The current median sale price was 7%
lower than in August.
This September, the median sale price
was $199,000, an increase of 4%
compared to last year.
Highlights
$1
89
,00
0
$1
89
,70
0
$1
93
,32
5
$1
94
,50
0
$1
79
,90
0
$1
82
,00
0
$1
93
,00
0
$1
96
,00
0
$2
00
,00
0
$2
05
,00
0
$1
97
,00
0
$1
99
,00
0
$1
92
,00
0
$1
92
,50
0
$2
04
,00
0
$1
97
,00
0
$1
85
,50
0
$1
87
,00
0
$1
99
,90
0
$1
98
,00
0
$2
08
,00
0
$2
08
,50
0
$2
09
,04
5
$2
13
,50
0
$1
99
,00
0
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Median Sales Price
$209,0
55
$164,9
00
$150,4
85 $273,5
00
$294,9
00
$217,5
00
$168,1
00
$153,0
00 $285,7
50
$283,4
99
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Median Sale PriceOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-4%
-5%
-5%
2%
-5%
-1%
3% 3%
3%
3%
0%
4%
2%
1%
6%
1%
3%
3%
4%
1%
4%
2%
6%
7%
4%
-6%
-4%
-2%
0%
2%
4%
6%
8%
Median Sale PricePercent Change Year/Year
® The Long & Foster Market Conditions Report
39
The Triangle, NC Area - September 2013
1,5
68
1,39
8
1,3
30
1,4
31
1,06
7
1,38
0
1,68
2
1,80
5
2,20
4 2,47
7
2,16
0
2,27
1
1,8
80
1,86
0
1,69
9
1,8
42
1,42
8
1,55
3
2,1
52
2,48
9
2,96
3
2,9
10
2,95
2
2,72
4
2,1
51
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Total Units Sold
1,1
10
253
171
99
60
1,2
85
274
225
91
76
0
200
400
600
800
1,000
1,200
1,400
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Total Units SoldOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
●
● There was a decrease of 21% in total
units sold in September compared to
August.
This month's total units sold was
higher than at this time last year, an
increase of 14% versus September 2012.
Highlights1
3%
14
%
7%
1% 4
%
27
%
12
%
6%
27
%
22
% 26
%
26
%
20
%
33
%
28
%
29
% 34
%
13
%
28
%
38
%
34
%
17
%
37
%
20
%
14
%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
Total Units SoldPercent Change Year/Year
® The Long & Foster Market Conditions Report
40
The Triangle, NC Area - September 2013
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Total Units Sold by Type
Detached Attached Condo
1,726
80%
335
16%
90
4%
Total Units Sold by TypeCurrent Month
Detached Attached Condo
625
29%
1,005
47%
357
16%
108
5%
56
3%
Total Units Sold by Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
200
400
600
800
1,000
1,200
1,400
1,600
Total Units Sold by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
41
The Triangle, NC Area - September 2013
17
,48
2
16
,81
5
16
,19
8
14
,20
8
14
,29
3
14
,51
6
15
,05
8
15
,30
6
15
,33
7
15
,10
5
14
,85
2
14
,69
8
14
,25
0
13
,87
9
13
,27
0
11
,25
4
11
,09
9
11
,09
8
10
,96
6
10
,76
1
10
,69
0
10
,66
0
10
,43
1
10
,35
4
10
,01
2
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
Total Active Inventory
7,1
82
1,9
25
1,5
15
930
728
4,7
11
1,3
10
1,1
47
657
541
01,0002,0003,0004,0005,0006,0007,0008,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Total Active InventoryOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-16
%
-17
%
-18
%
-19
%
-20
%
-22
%
-24
%
-24
% -22
%
-21
%
-21
% -20
%
-18
%
-17
%
-18
%
-21
%
-22
%
-24
%
-27
%
-30
%
-30
%
-29
%
-30
%
-30
%
-30
%
-40%
-35%
-30%
-25%
-20%
-15%
-10%
-5%
0%
Total Active InventoryPercent Change Year/Year
●
● Versus last September, the total
number of homes available was lower
by 4,238 units or 30%.
September's total active inventory of
10,012 units was 3% lower than the
previous month's supply of inventory.
Highlights
® The Long & Foster Market Conditions Report
42
The Triangle, NC Area - September 2013
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
Total Active Inventory by Type
Detached Attached Condo
8,558
86%
1,039
10%
415
4%
Total Active Inventory
by TypeCurrent Month
Detached Attached Condo
2,666
27%
4,077
41%
1,647
16%
774
8%
848
8%
Total Active Inventory by
Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
Total Active Inventory by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
43
The Triangle, NC Area - September 2013
95
.9%
96
.3%
96
.2%
96
.2%
96
.3%
96
.1%
96
.7% 96
.9%
97
.0%
97
.0%
97
.2%
97
.0%
96
.8%
97
.3%
97
.2%
97
.1%
96
.9%
97
.3% 97
.6%
97
.6% 97
.9%
97
.8%
97
.8%
97
.9%
97
.5%
94.5%
95.0%
95.5%
96.0%
96.5%
97.0%
97.5%
98.0%
98.5%
Average Sale Price as a Percent of List Price
97.0
%
96.5
%
97.1
%
96.7
%
96.4
%97.7
%
97.8
%
97.4
%
96.9
%
96.0
%
93.0%
94.0%
95.0%
96.0%
97.0%
98.0%
99.0%
100.0%
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
Sale Price as % of List PriceOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
Days on Market
Current
Month
One Year
Ago96 117
Down -18% Vs. Year
Ago
Avg Sale Price as % of List Price
Current
Month
One Year
Ago97.5% 96.8%
Up 0.7% Vs. Year Ago
90%
91%
92%
93%
94%
95%
96%
97%
98%
99%
100%
Average Sale Price as a Percent of List Price by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
133
126
134
126
132
138136
125
115119120
116 117121
117116119
121
112109
100
95 94 9396
80
90
100
110
120
130
140
150Days on Market
® The Long & Foster Market Conditions Report
44
The Triangle, NC Area - September 2013
$359
,964
$312
,073
$302
,972
$331
,096
$232
,419
$295
,248 $3
83,8
06
$417
,622 $5
24,1
86 $615
,271
$513
,109
$548
,227
$424
,250
$428
,300
$405
,775
$437
,300
$321
,002
$338
,021
$510
,778 $5
95,0
59
$735
,991
$733
,342
$734
,211
$682
,904
$509
,990
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
Total Dollar Volume SoldIn Thousands
Total Dollar Volume Sold
Current
Month
One Year
Ago$509,990,449 $424,250,493
Up 20% Vs. Year Ago
Months of Supply
Current
Month
One Year
Ago4.7 7.6
Down -39% Vs. Year Ago
11
.2 12
.0
12
.2
9.9
13
.4
10
.5
9.0
8.5
7.0
6.1
6.9
6.5
7.6
7.5 7.8
6.1
7.8
7.2
5.1
4.3
3.6
3.7
3.5 3.8
4.7
0
2
4
6
8
10
12
14
16
Months of SupplyCurrent Month's Active Inventory/Current Month's Unit Sales
●
●
Total volume sold this September was
20% greater than the same month one
year ago.
In September, there was 4.7 months of
supply available, compared to 7.6 in
September 2012. That was a decrease
of 39% versus a year ago.
Highlights
® The Long & Foster Market Conditions Report
45
The Triangle, NC Area - September 2013
2,5
39
2,4
17
2,0
82
1,6
21
2,8
83
2,9
81
3,9
46
3,4
82
3,3
48
3,1
43
2,9
51
3,0
05
2,6
54
2,7
67
2,0
53
1,6
50
2,9
04 3
,29
9
3,9
97
4,1
47
3,9
08
3,5
83
3,2
46
3,4
34
3,0
44
1,3
86
1,3
95
1,2
63
1,1
81 1
,61
3
1,7
73 2
,23
4
2,2
07
2,4
26
2,1
60
2,0
72
1,9
63
1,7
02
1,8
64
1,5
21
1,4
22
1,9
54 2,2
51
2,8
23
3,0
53
3,0
26
2,7
35
2,4
55
2,4
23
2,2
09
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
New Listings & New Contracts
New Listings New Contracts (Under Active Contract Status)
New Listings
Current
Month
One Year
Ago3,044 2,654
Up 15% Vs. Year Ago
New Contracts
Current
Month
One Year
Ago2,209 1,702
Up 30% Vs. Year Ago
1.81.7
1.6
1.4
1.81.7
1.8
1.6
1.41.5 1.4
1.5 1.61.5
1.3
1.2
1.5 1.51.4
1.41.3 1.3 1.3
1.4 1.4
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Supply/Demand RatioNumber of New Listings to New Contracts
1,4
74
342
288
139
101
1,7
16
403
333
137
99
0
500
1,000
1,500
2,000
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
New ListingsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
1,0
10
232
144
87
56
1,3
36
279
224
89
66
0
500
1,000
1,500
2,000
2,500
Wake
County
Durham
County
Johnston
County
Orange
County
Chatham
County
New ContractsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
● Based on this month's amount of new
listings and new contracts, the ratio of
home supply (new listings) to current
home demand (new contracts) was 1.4,
a decrease of 12% from September
2012.
Highlights