We’ve been seeing some recent statistics in the national and local news about some improvement in the real estate market. I can say that from my observations and activity, that’s true. Buyers are buying, sellers are pricing more realistically and builders are building new homes- even some for inventory. So, there is reason for cautious optimism. Still, you should understand that when we say sales are up, that means up from the last year, not from any longer perspective. That also doesn’t mean that prices are going up in any substantial manner. I’m hopeful for the return of a strong real estate market because 1) I earn my living selling homes, and 2) It is somewhat of a predictor of the direction of the overall economy. However, I’m a believer in everyone having a realistic set of expectations. So, to give you some perspective, here are some of the latest charts showing different measures of the real estate market. They show that month to month, things have jumped around quite a bit, so answers depend on when you asked the question and compared to when in the past. (All data from Carolina Multiple Listing Services, Inc. Powered by 10K Research and Marketing.) Click on each image to bring up a larger one.
So, are things picking up? Sorta. You be the judge.
By the way, if you’d like some additional similar info like average or median prices, months of inventory, broken down by price ranges or towns or zip codes, let me know. I’ll be happy to work up some charts for you. We have some pretty cool tools to measure the numbers in real estate in our Multiple Listing Service. The above is just a small sample of what I can do with our system.