As is typical of this time of year, the real estate market has slowed a bit. Stats from December are very similar to November’s, with the months of inventory only reduced by 0.03 months, the sold-to-list prices reduced by 0.1%, the average days on market increased by 2.4 days, and the average sales price reduced by $13,856.
The year-over-year numbers also reflect what’s normal for this season, with the average sales price increasing $17,980, a difference of only 4.31%; and the median sales price increasing only 6.05%.
It’s safe to say that the crazy house rush we experienced during the pandemic has slackened, and numbers are returning to their normal trends. Even so, the best time to buy or sell a house is when you need to and, even with a slower market, you can get a good price for your home or find a good home at market value. As always, we encourage buyers and sellers to hire a real estate agent that they know, like, and trust to look out for their interests and guide them through the process.
SELLERS, if you are considering selling, Moore County is still in a seller’s market. A home priced at market value should see good showing traffic and produce an acceptable offer.
BUYERS, you should always get pre-approved so that you’re ready to make an offer when you find a home you love. A good mortgage lender can discuss your loan options and help you find the best way to finance your new home, in some cases with no money down.