The 2011 Union County NC Real Estate Market—Seven Facts
It's time to look at the real estate market in Union County NC and to assess how home buyers and home sellers fared in 2011.
Here are seven facts about the Union County marketplace in 2011.
- The number of single family homes sold rose above the units sold in 2009 and 2010 but remained below 2008 sales.
- The median sales price for single family homes in 2011 continued to drop. At $189,000, it was 5.5% lower than the median price in 2010 and 12.9% lower than in 2008.
- Fewer townhomes and condos sold in 2011 than in any of the previous three years.
- The median sales price for townhomes in 2011 was $113,500, also lower than the median sale price of previous years.
- A quarter of Union County’s home sales in 2011 were distressed sales.
- Eighteen percent of all home sales were new construction in 2011.
- Of Union County’s small towns, only Wesley Chapel, Stallings, and Indian Trail saw increases in the median sales price of home sold in 2011.
What do these seven facts mean for Union County buyers and sellers?
- The large number of foreclosures and short sales in 2011 likely exerted a downward pressure on the median sales price in most parts of Union County.
- Sellers of townhomes and condos face a continuing decline of demand for their homes and resulting drop in prices.
- With new construction at almost 20% of the market, Union County is a good place to find a new home to purchase.
- Union County homes are more affordable than ever.
Want to learn more about the real estate market in Union County and see all the numbers for each of the past four years? Want to know how Union County’s small towns fared in 2011? Click on the link below.
Union County NC Real Estate Market Report—Year 2011
Copyright 2012. Carol Fox. Allen Tate Realtors. *The 2011 Union County NC Real Estate Market—Seven Facts*
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