Market Data Statistics Triangle NC 2013

The 2015 year end market data reports for the Triangle are in and one thing is clear.

Triangle Market Data December 2015

4th Quarter 2015 New Construction Market Data

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We need inventory!
Why are Chapel Hill and Orange County struggling?

We need inventory!

Showings in December were the best ever according to the Triangle MLS. Up 12% from this time last year. That was my experience too. Usually December is a time to enjoy the holidays, after all, who will look at houses then? My clients were looking and there wasn’t and isn’t much out there. Days on the market are 45-55 days and in some neighborhoods it’s 30. According to Stacey Anfindsen, an appraiser who prepares the market data reports for the Triangle MLS, that is about as short as it can get. Prices are up 5% for the year and 7% for December 2015. Stacey reports in the video below that with high demand and rising prices there should be more inventory but it’s not happening. Read my post about not waiting until Spring to put your house on the market. If your are thinking about selling 2016 seems to be the year to do it!

Closings were up 10% for the year and up in December by 33%. Stacey mentions one reason for the December increases is builders try to get sales by the end of the year to make their numbers look good. December is the best time to get a deal on a new home.

https://youtu.be/q9LbJ7fjLSM

Why are Chapel Hill and Orange County struggling?

Orange County includes Chapel Hill and Carrboro.Wake County includes Cary Apex, Holly Springs and Raleigh. Chatham County includes some Chapel Hill addresses and Pittsboro.

Something I’ve noticed from showing homes and these statistics back up is that Orange County is down compared to rest of the market.Well, it’s down in almost everything. Days on the market are up and that’s another sign that the Chapel Hill market is having hard times.

One reason is the towns have been so restrictive with new construction there is nothing new on the market that’s affordable. The houses are dated-and expensive. Another reason is that the schools have been rated as the best in the State for many years. Other area school systems are good and Cary in Wake County has some great schools and a big choice of new homes. Chapel Hill is still a very cool place to live if you can afford to buy a home and update it or just want to live in a 80’s or 90’s home and enjoy the benefits of a college town.

Triangle Area Real Estate

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Patricia B

20:52 02 Feb 20

Marianne was our agent when we purchased our home in Chatham County. She is extremely knowledgeable about the Triangle... area, specific neighborhoods and builders. Marianne was very thorough and did an excellent job representing us during the entire process; from finding a house, negotiating the offer, and handling all the closing details. We highly recommended Marianne.read more

Althea Sistare

14:51 17 Jan 20

Marianne helped us buy a beautiful home in Chapel Hill while we were living in Pennsylvania. She was a pleasure to work... with and accommodated our schedule perfectly during the few times we were able to be in the area. She patiently drove us around for many hours and several days, helping us rule out every possibility. Our final decision was made without a doubt! We felt very confident in Marianne's guidance throughout the entire home buying process. Her thorough knowledge and experience was very evident. She was there for us every step of the way, especially when we could not be there in person.read more

Cam Tung

15:49 24 Mar 19

Marianne and Chip were incredibly helpful throughout the new home building process, especially as we were living in... Austin! They were both super pleasant, knowledgeable and responsive! We couldn't have done it without them.read more

Jillian Geneve

14:59 15 Mar 19

Marianne did a fabulous job as our realtor. It was stressful to be relocating to an unfamiliar, new area from out of... town, and Marianne was extremely helpful. She had so much experience and knowledge of the neighborhoods, schools, and services for our special needs child, and she was able to advise us on the best location for our family. Even in the middle of a winter storm she was out looking at houses for us, taking detailed videos so we could see the homes from out of state. She was very responsive and always available to answer our many questions about the area. She was very knowledgeable about the buying process and did a great job of negotiating on our behalf. When we got to Chapel Hill, Marianne gave us several different tours, and even took the time to show our son playgrounds all over town. We are thrilled with the home we bought and couldn’t have done it without her. I highly recommend her!read more

Yanina Costecalde

16:57 24 Jun 18

Marianne Howell Wright is real Estate Agent; she works with her husband, Chip Wright who was in a construction building... contractor. I have been in the area for year and knew quite well the market, and where I wanted my family to be, which I recommend to any new buyer. I contacted Marianne because I liked her videos and she seemed knowledgeable about the area. They both came straight away, which other agents do not do. In general, Marianne recommends new constructions over old houses because she often goes to new development meetings and is well aware of the new construction materials (lighter, better, and more efficient). However, I chose an old house. Being single, Marianne and Chip made sure that I understood what it meant to choose a house that required a lot of work. Once it became clear that I knew what it would take to fix the house, Chip and the inspector built a terrific file and Marianne negotiate and reduced the price significantly, which is rare for the area. I invested this extra money in the house and hired contractors with Chip helps. The house was ready for my family in a month. I would like to add that Chips was not keen to advice for contractors because some clients might be suspicions of his intentions, but if you ask, he would tell you.A house is everyone own choice. You are the only one who knows what your family likes, can afford, and able or not to handle small/big improvement projects. What chip can do is to give you a far opinion on the house condition. What Marianne can do is to build the best file in order to negotiate the best price for the buyer or the seller. I recommend this team because they are professional, reliable, and efficient.read more

Elaine Lux

01:16 09 Jun 18

Marianne is awesome! She was available to us during the entire process of building our new home, from selecting the lot... through our final walk-through. Building a new home, especially while living out-of-state, can be nerve-wracking. Having Marianne represent us was such a smart decision. She is so knowledgeable about the new build process and construction, and brought things to our attention that we never would have thought about. She truly looked out for our best interests. She was available to us each and every time we needed her. We now have a brand new home that is well-built and gorgeous! We thank Marianne for the huge role she played in making that dream come true for us!read more

Maureen Pulscher

21:38 04 Jun 18

Marianne helped my husband and I find a new home in the Triangle area while we were still living out of state. We made... a few trips to look at properties and Marianne always made the most of the short amount of time we had and helped us cover a lot of ground. She also spent plenty of time on the phone and over email with us educating us on the area and providing fantastic local insights. She is extremely responsive and will track down information for you. She kept us well informed throughout the buying process and helped us learn what to look for as first-time new construction buyers. She also was tremendously helpful in the new construction walk-throughs, pointing out things and asking questions I did not know to ask. I highly recommend Marianne, especially if you are moving to this area from out of state!read more

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