October 2012 Orange County Real Estate Report
Chapel Hill Home Sales Increasing
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 October 2012 versus October 2011, according to the recently released Triangle MLS Report for October 2012.
This is a continuation of a trend in home sale increases in Chapel Hill, mirroring Wake County's market changes.
October 2011 - 71 Closed Sales in Orange County
October 2012 - 100 Closed Sales in Orange County
40.8% Increase in Closed Sales in Orange County
Months of supply of inventory for the Chapel Hill area has decreased as well.
Months of Supply Down 26.9%
October 2011 - 9.9 Months of Supply in Chapel Hill/Orange County
October 2012 - 7.2 Months of Supply in Orange County
In July of 2011, the Chapel Hill area was at 12.4 months of supply.
In addition, listings have reduced as well, which means there are fewer choices to select from.
October 2011 - 947 total listings in Orange County
October 2012 - 759 total listings in Orange County
20.9% DECREASE in Total Homes For Sale in Orange County
Considering buying a new home in Orange County, NC? Chapel Hill, NC New Home Market Resources: