Year-to-date, the market in Chapel Hill, and Orange, Durham and Chatham Counties is down between 22-25% in total sales. There also is a 6 month supply of inventory on the market across the board, except in Chatham County where there is 10 months of inventory.. In Chapel Hill, the single family market is fairing better than the townhouse/condo sales. While total sales in each category is down 25%, average prices for single family homes are down 4% compared to 13% for condos/townhouses and average days on market are up 4% for single family homes verses a 38% increase in the condo/townhouse market. Although proportionately the same number of units are selling, condos and townhouses are taking longer to sell and having to give more on price. Elsewhere;
- Orange County's sales are down 27%, average prices are down 5% and days on market are up 4%;
- Durham County's sales are down 28%, average prices are holding their own at a 1% decline and days on market are about the same at 84; and
- Chatham County's sales are down 22%, average prices are down 5% and days on market are about the same at 111.
See also:
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Appreciate your stats -- they are mirrored in my destination venue/secondary home marketplace, in the Pacific Northwest Coast.