While this marks a year-over-year increase of 4%, the average home price in the Cape Fear region has declined since this summer. In August, the average price of homes that sold was $560,737, representing a decrease of $13,048 in just one month.
Last month saw a decrease in the number of homes debuting on the market. The 568 homes listed in September represent the lowest number of new listings so far in 2023
An increase in the number of days a house sits on the market before going under contract is good news for buyers. Sellers, when faced with longer wait times, can grow impatient and may become more willing to lower their prices
This graphic is solid proof that sellers are becoming more flexible with their asking prices. While a 1.3% adjustment might not appear significant at first glance, it’s important to recall that last year, sellers were often receiving more than their asking price. This shift is certainly a positive development for buyers.