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.