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Archive for July, 2013

After a robust start to 2013 there has been some cooling in the market. Lawrence Yun, chief economist with the National Association of Realtors sums it up best with an expectation that interest rates will close in on 5% by mid-2014.

There are 17.8 renter households with sufficient income to buy a $177,000 home at a 3.5% interest rate compared to 14.9 million households at a 5% interest rate.

By the numbers, June 2012 vs. June 2013 closed sales Durham County NC

2012
398 closed properties
85 days on market on average
Average list price $276,698
Average sale price $209,385

2013

472 closed properties
64 days on market on average
Average list price $217,864
Average sale price $213,125

Please remember me if you come across someone who wants to buy or sell real estate.

919-608-2372 mobile/text or
MSullivan@fmrealty.com

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Hope Valley Farms

110 Grey Elm Trail

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13 Providence Court

Just 5 minutes to Duke and to Duke Hospital and the VA.

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