Report Indicates Triangle Housing Market Continues Positive Growth

The Triangle Multiple Listing Service has just released their local market update for September 2012, and the trend continues to show positive growth.

Here are some of the highlights:

• Closed Sales were up 19% in year over year data.
• Pending Sales rose 25.3% compared to last year.
• Inventory levels shrank by 23% over last September.
• Median Sales Price increased slightly by 1.9%.
• Days-on-Market (DOM) was down 12.5% to 114 days.
• Months Supply of Inventory was also down 33.7% to 6.9 months.

The data reflects information on properties located in the 16 counties of the greater Triangle Region, including Chatham where Briar Chapel is located. The percentage changes are comparisons with the prior year’s month unless otherwise noted.

There was also good news from the housing market this week:

• The September 2012 Pending Home Sales Index (PHSI), which is based on signed contracts, was 14.5% higher than the same period a year ago. Year-over-year, the PHSI has increased for 17 straight months.
• The October 2012 NAHB/Wells Housing Market Index (HMI) rose to its highest level in 6 years.
• Housing Starts and Permits also rose to their highest levels in four years this week.

Four Briar Chapel Homes Named 2012 Parade of Homes Winners

Congratulations to three members of Briar Chapel's builder team for nabbing four wins during the 2012 Parade of Homes, presented by the Home Builder’s Association (HBA) of Durham, Orange and Chatham Counties.

Gold Award Winners:

• 371 Tobacco Farm Way (Homes by Dickerson)
• 39 Pokeberry Bend (Saussy Burbank)
• 139 N. Serenity Hill Circle (David Weekly Homes)

Silver Award Winner:

• 351 Dark Forest Drive (Homes by Dickerson)

Homes entered into the Parade were divided into price categories and judged by teams of builders and new home professionals from other markets. Submitted homes were judged prior to the start of the event on criteria including quality workmanship, floor plan and curb appeal.

5th Annual Pittsboro Pepper Festival Today!

The 5th Annual Pittsboro Pepper Festival is being held today, October 14th, from 3-7pm at Briar Chapel's newest park, the Briar Commons. Come celebrate the food and drinks made from the Piedmont’s sustainable farmers, chefs, brewers and artisans!

This annual event supports The Abundance Foundation. This year’s event will be bigger than ever with 35 participating vendors, and an anticipated 800 attendees. In addition to great food, groups Diali Cissokho & Kaira Ba and The Free States, along with Justin Johnson will entertain attendees. There will also be face painting, big bubbles and The Vegetable Circus for the little ones.

Tickets are $35 at the door or free for children under the age of 12.