Wake County North Carolina Luxury Housing Market Update February 218
Wake County, North Carolina - February 218 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 354 New Listings 121 Units Sold 29 Median Sale Price $9, 16 14 12 1 8 6 4 2 F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 F-18 9 8 7 6 5 4 3 2 1 F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 F-18 $96, $94, $92, $9, $88, $86, $84, $82, $8, F-15 M-15 A-15 N-15 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 F-18 Down -3.8% Up 34.4% Down -12.1% Down -2.8% 2
Wake County, North Carolina - February 218 Compared to last February, the total number of homes more than $75, available this month was lower by 3.8% and higher by 14.9% compared to February 216. Active inventory this February was 7.9% higher than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 11.85% $75K - $2M 11.11% $2M - $5M.74% $5M+.% 5 45 4 35 3 25 2 15 1 5 ACTIVE INVENTORY 234 267 32 324 3 5 3 7 323 3 253 264 38 346 385 44 424 41 46 396 47 383 34 35 368 414 461 463 4 451 436 447 429 391 325 328 354 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 16 14 12 1 8 6 4 2 61 13 9 35 38 45 121 71 38 36 34 32 3 28 26 368 354 38 3
Wake County, North Carolina - February 218 This month s units sold for homes more than $75, was lower than at this time last year, a decrease of 12.1% versus last February and an increase of 61.1% versus February of 216. There was a decrease of 34.1% in luxury units sold in February compared to January of this year. 4 3 2 1 18 UNITS SOLD Versus Previous Years 29 9 8 7 6 5 4 3 2 1 22 27 26 38 68 32 28 31 28 17 18 27 UNITS SOLD 51 54 58 51 36 36 41 3 44 6 85 56 75 42 51 53 52 44 29 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price Fonville Morisey Represented February 1, 218 Raleigh 27615 $1,239, $1,2, 96.9% 85 February 7, 218 Cary 27518 $1,1, $1,7, 97.3% 31 February 23, 218 Cary 27518 $85, $85, 1.% 3 February 9, 218 Raleigh 27612 $775, $775, 1.% 535 January 15, 218 Raleigh 2769 $1,37, $1,37, 1.% 153 January 26, 218 Cary 27519 $9, $88, 97.8% 1 January 26, 218 Raleigh 27612 $85, $83, 97.6% 18 January 26, 218 Raleigh 27615 $829,9 $82, 98.8% 1 January 29, 218 Raleigh 27612 $816, $816, 1.% 75 January 17, 218 Raleigh 27614 $815, $79, 96.9% 181 DOM Buyer Seller 4
Wake County, North Carolina - February 218 In February, the median sales price for homes more than $75, was $9,, a decrease of 2.8% compared to last year. The current median sales price was higher by 9.9% than in January. $94, $92, $9, $88, $86, $84, $82, $8, $841,95 MEDIAN SALES PRICE Versus Previous Years $925,82 $9, $1,, MEDIAN SALES PRICE $95, $9, $85, $8, $825,77 $855, $95,551 $87, $855, $844,76 $835, $825, $9, $845,4 $885,462 $865, $841,95 $831, $864,9 $85, $86,381 $855, $849,999 $852,775 $891,75 $86, $827,459 $822,89 $925,82 $841,888 $867,568 $865, $925, $945, $85, $867,5 $867,184 $9,5 $94,5 $818,874 $9, $75, $1,, $9,, $8,, $7,, $6,, $5,, $4,, $3,, $2,, $1,, $ $2,84,243 TOTAL DOLLAR VOLUME SOLD $17,758,267 $34,255,186 $27,552,93 Total volume sold this February was 19.6% lower than the same month one year ago. 5
Wake County, North Carolina - February 218 In February, the average sale price for homes more than $75, was 97.% of the average list price, which is 1.3% lower than at this time last year. 1% 98% 96% 98.% SALE PRICE AS % OF LIST PRICE 98.3% 97.% This month, the average number of days on market was 131, higher than the average last year, which was 94, an increase of 39.4%. 94% 92% 9% 95.4% DAYS ON MARKET 14 12 1 8 6 4 13 96 9 76 67 114 71 9 97 88 77 72 97 98 11 81 84 94 79 84 77 76 66 131 111 111 79 87 84 82 64 67 76 82 61 2 In February, there were 12.2 months of supply available, compared to 11.2 in February of 217. That is an increase of 8.9% versus a year ago. 18 16 14 12 1 8 6 4 2 1.6 9.9 11.6 8.5 4.9 1.2 1.4 12. 1.4 1.7 7.7 15.5 17.1 MONTHS OF SUPPLY 12.8 11.7 7.9 7.9 7.1 8. 11. 11.3 9.3 7.1 11.7 11.2 8.6 1.5 7.7 5.3 8.1 5.8 1.6 8.4 7.4 6.3 7.5 12.2 6
Wake County, North Carolina - February 218 References & Definitions WAKE, NC: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the Triangle MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Wake, North Carolina only. Analysis dates for all regions are February 1, 215 through February 28, 218. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-6 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are February 1, 215 through February 28, 218. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are February 1, 215 through February 28, 218". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7