Selling a Home?
Hi! This is Real Estate Mimi of the Francis Home Team in beautiful Cary, NC! Hey I wanted to share with you some market data that I analyzed for several of our Buyers and Sellers – I thought you might find it helpful, too!
In the towns that my Team specializes in – Apex, Cary, Holly Springs, Fuquay Varina and Raleigh, North Carolina – we continued to see the housing market ‘firming up’ in January, 2011. 504 homes were sold in January compared to 436 in January of 2010. And 125 of the 504 homes were new construction – slightly more than 2010’s 99 new construction homes sold.
The average price per square foot also continued to strengthen – reaching $112.62 per square foot this year versus $107.80 per square foot in January of 2010 and the average days on market for homes listed in Apex, Cary, Holly Springs, Fuquay Varina and Raleigh dipped slightly from 119 days last year to 112 this year.
In looking forward, however, there’s conflicting data. There are 1123 homes listed as Contingent or Pending in the Multiple Listing Service as of today, February 9th, 2011. Of course not all of those homes are going to close in February – in fact, it stands to reason that many of those homes won’t close at all – especially for the houses Contingent upon the buyer successfully selling the house they’re in now.
Still, if we look just at the 732 homes listed as Pending – that means Under a legally binding contract without major reasons the house won’t sell – we can easily close more homes this month than the 523 homes closed in February of 2010.
So what do all these numbers mean? Great question! I believe we can draw the following conclusions from this data:
First – it’s still a *great time* to buy a home! My Team has several buyers Under Contract to purchase terrific homes at really good prices and at *great* mortgage rates!
Second – it’s a good time to sell for the motivated. Our aggressive marketing programs are getting homes sold, too – but it’s like the old joke about how many therapists it takes to change a lightbulb. Our Sellers are getting *Sold* but only if they *really* want to sell!
Hey, this is Mimi Francis, leader of the Francis Home Team. I hope this little video is helpful to you and we’re always available to assist you with your real estate needs, too! Feel free to call me directly at 919-882-3276 or zip me an email at realestatemimi@yahoo.com . We’re looking forward to connecting with you!
2.9.11