Weddington NC Real Estate Market Second Quarter 2013—Six Facts
It's time to look at the real estate market in Weddington NC and to assess how home buyers and home sellers fared during the second quarter of 2013.
Here are six facts about the Weddington marketplace in April through June 2013.
- The median closed price in the second quarter was $499,799.
- The second quarter median price increased 26.8% over the first quarter and was higher than every year since 2009.
- The number of homes sold in the second quarter doubled over the first quarter.
- Days on market dropped 54.7% in the second quarter to 52 days.
- Resales and new homes accounted for 50% and 40% of the market respectively.
- There is a 6.5 month supply of homes in Weddington making it a balanced market for buyers and sellers.
What do these six facts mean for Weddington NC buyers and sellers?
- Buyers may have more negotiating power in Weddington than in other areas with sellers markets.
- Distressed sales are a small part of the market partly contributing the healthy rise in the median closed price.
- With rising prices, more Weddington sellers will have equity in their homes.
Want to learn more about the real estate market in the Town of Weddington and see all the numbers for each of the past five years? Click on the link below.
Thinking of selling your Weddington home in 2013?
Click here to see the Union County Home Sellers Guide and to request a free online opinion of your home’s value.
Copyright 2013. Carol Fox. Allen Tate Realtors. *Weddington NC Real Estate Market Second Quarter 2013—Six Facts*