Chapel Hill Market Report for February 2016

Chapel Hill Market Report for February 2016

Units Sold

• Units Sold-88
  • Up 6% from Last Year
    • There was an increase in total units sold in February, with 88 sold this month in Chapel Hill Area Real Estate versus 82 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 6% versus February 2015.

Active Inventory

• Active Inventory-624
  • Down 9% from Last Year
    • Versus last year, the total number of homes available this month is lower by 65 units or 9%. The total number of active inventory this February was 624 compared to 689 in February 2015. This month's total of 624 is higher than the previous month's total supply of available inventory of 596, an increase of 5%.

Median Sale Price

• Median Sale Price-$337,450
  • Up 6% from Last Year
    • Last February, the median sale price for Chapel Hill Area Homes was $318,100. This February, the median sale price was $337,450, an increase of 6% or $19,350 compared to last year. The current median sold price is 4% higher than in January.

New Listings

• New Listings-244
  • Up 28% from Last Year
• Current Contracts-167
  • Up 26% from Last Year
    • This month there were 244 homes newly listed for sale in Chapel Hill Area compared to 191 in February 2015, an increase of 28%. There were 167 current contracts pending sale this February compared to 133 a year ago. The number of current contracts is 26% higher than last February.

Sold VS List Price

• Sold vs. List Price-97.5%

  • Up .6% from Last Year

    • In February, the average sale price in Chapel Hill Area was 97.5% of the average list price, which is 0.5% higher than at this time last year.

Months of Supply

• Months of Supply-3.5
  • Down 28% from Last Year
    • In February, there was 3.5 months of supply available in The Triangle, compared to 4.8 in February 2015. That is a decrease of 28% versus a year ago.

Days on Market

• Days on Market-7.1
  • Down 15% from Last Year
    • This month, the average number of days on market was 96, lower than the average last year, which was 107, a decrease of 10%.