Orange County, North Carolina...which includes Carrboro, Chapel Hill and Hillsborough (as well as many other wonderful towns)...is a GREAT place to live!
Chapel Hill is home to the University of North Carolina (Go Tarheels!). Orange County also boasts of its wonderful public school system. The quality of education that is available...on all levels...is a huge part of what attracts so many to relocate to Orange County, NC.
The following chart shows and compares the total number of listings, through October of 2007 and 2008 for Orange County, NC. As you can see, the total number of listings has been down by over 40% at some points throughout the year. Still, there is a solid supply of wonderful homes available for sale in Orange County, NC.
This next chart represents the total number of homes sold through October of 2007 and 2008. August of 2008 was down by 40% from August of 2007. September 2008 saw a slight improvement...with a decrease of 33% from September 2007 sales. October 2008 sales fell again to almost 40% below the same time period in 2007.
The following Days on Market chart is quite encouraging. For the most part, there has been little change in the total days on market from listing to pending contract. This is good news for home owners wishing to sell their home in Orange County, NC.
This next chart details the average closing price for homes sold through the third quarter of both 2007 and 2008. Interestingly, the average closing price for 2008 was higher than 2007 in February, March and May. The average closed price for October 2008 is moving closer and closer to a two year low. It is a GREAT TIME to buy a home in Orange County!
The following chart indicates the total months of real estate supply that is currently available...given the most up-to-date market trends and patterns. There is currently 17.4 months of supply available in Orange County. There are many beautiful homes from which to choose, and the price is right!
IF you are considering a move to Orange County, NC…
I would love to assist you to find your new home. Being a native of the Triangle area, I am in touch with the current market conditions and know how to find the best deal for you. Please call or email me today to schedule a tour of Orange County, NC homes for sale!
Elizabeth Nieves - Broker, REALTOR®
(919)749-3749 cell
Elizabeth@ElizabethNieves.com
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This representation is based in whole or in part on data supplied by the participants in the MLS. Neither the participants, their respective Boards of Realtors nor the MLS guarantee or are in any way responsible for its accuracy. Any market data maintained by the MLS does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of the MLS, unlisted properties, rental properties, etc.. The information contained in this publication is the copyrighted property of Triangle M.L.S. and may not be reproduced without the permission of the editor.
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