Chapel Hill Area Home Sales Shooting Up | Inventory Levels Way Down
Posted by Penny Hull on Fri, Sep 21, 2012 @ 09:03 AM
July 2012 Orange County Real Estate Report
Chapel Hill Home Sales Up Again
Considering buying a new home in Chapel Hill, in the Orange County area? You're not the only one. There was a significant increase in closings in July 2012 versus July 2011, according to the recently released Triangle MLS Report for July 2012.
This is a continuation of a trend in home sale increases in Chapel Hill, mirroring Wake County's market changes.
July 2011 - 119 Closed Sales in Orange County
July 2012 - 156 Closed Sales in Orange County
31.1% Increase in Closed Sales in Orange County
In addition, new listings have reduced as well, which means there are fewer choices to select from.
July 2011 - 171 New Listings in Orange County
July 2012 - 167 New Listings in Orange County
Months of Supply Down 30.3%
July 2011 - 12.4 Months of Supply in Chapel Hill/Orange County
July 2012 - 8.6 Months of Supply in Orange County
The total available inventory of homes for sale in the Chapel Hill area, specifically in Orange County, has decreased from 1,157 last year to only 872 this year.
24.6% DECREASE in Total Homes For Sale in Orange County
6 months of supply represents neither a buyers or a sellers market. Much lower than a six month supply, and Orange County will move to a "Seller's Market".
Considering buying a new home in Orange County, NC? Chapel Hill, NC New Home Market Resources:
Chapel Hill NC New Homes – New Home Builders Chapel Hill NC
Acreage Lots in Chapel Hill
Golf Course Community Homes in Chapel Hill, NC
Build On Your Lot in Chapel Hill
Chapel Hill New Home Lots for Sale
Accessible Home Opportunities in Chapel Hill, NC
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