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Home Sales See First Annual Gain Since 2021, Prices Remain Strong

Local Market Update – November 2024
Good news for the housing market! U.S. home sales rose 3.4% in October compared to the previous month and were up 2.9% from last year, marking the first annual increase since mid-2021 and exceeding economists’ expectations for the month, according to the National Association of REALTORS®. Lower mortgage rates in late summer and early fall gave buyers a boost, with sales improving in every region.

More homes are hitting the market too—1.37 million were available in November, up 19.1% from last year. However, prices remain high, with the median home price reaching $407,200, a 4% jump from 2022. More options, but affordability challenges persist!

In our local market, New Listings in the doorify™ MLS service region increased 24.3 percent to 3,127. Under Contract Sales increased 25.1 percent to 2,799. Inventory increased 9.5 percent to 8,487. Median Sales Price remained flat at $399,983. Days on Market decreased 33.3 percent to 24.

Click on the links below for more detailed information about the Real Estate Markets in Durham, Orange & Chatham counties:

Durham County
Orange County & Chapel Hill
Chatham County

Want more in-depth market statistics? Check out the interactive market activity dashboard for the doorify™ MLS service region.

For information about how the local market affects your real estate needs, contact any of the real estate experts at Peak Swirles & Cavallito Properties.

*All data from Doorify Multiple Listing Service, Inc. ©2024

5 Tips to Get Your Home Ready for the Holiday Season

The holiday season is an exciting time filled with family, friends, and festive gatherings. To ensure your home is ready for the season’s festivities, without adding additional stress, follow these practical tips to get your home holiday-ready so you can focus on making warm holiday memories.

Declutter and Clean: Tidy up living spaces, entryways, and guest rooms. A clutter-free space feels more inviting, and a good cleaning sets the foundation for a cozy atmosphere.

Enhance Your Curb Appeal: Add simple decorations like string lights, seasonal wreaths, or potted plants by your entrance. Ensure walkways are clean and well-lit for safety and style.

Prepare the Kitchen: Stock up on essentials like snacks, beverages, and cooking supplies. Wipe down appliances and have some favorite recipes handy make meal preparation easier.

Set Up a Cozy Guest Room: For overnight visitors, provide clean linens, fresh towels, and thoughtful touches like extra blankets. Ensure outlets are accessible for charging devices.

Check Your Heating and Lighting: Make sure your HVAC system is functioning properly to keep everyone warm. Replace burnt-out lightbulbs and add candles or dimmable lights for a festive glow.

With these few tips, you’ll create a home that’s welcoming and cozy, allowing you to focus on enjoying quality time with family and friends. Embrace the holiday spirit without worrying about perfection. Happy holidays!

This content was generated using AI tools.

5 Tips for Sellers: Downsizing and Preparing Your Home for a Quick Sale

Preparing to sell your home while downsizing can feel overwhelming, but a few targeted actions can make a big difference. By focusing on decluttering, showcasing storage, and completing simple updates, you can make your property more appealing to buyers and maximize its value. These five practical tips are easy to implement and designed to help you create a polished, market-ready home that attracts the right buyer—setting you up for a successful sale and a smoother transition to your next space.

Declutter Strategically: Begin sorting belongings into keep, sell, donate, and discard categories. Start with lesser-used spaces like attics or basements.

Highlight Storage Potential: Optimize and showcase closets, cabinets, and garage storage to appeal to buyers looking for organized spaces.

Neutralize and Depersonalize: Remove personal photos and bold décor. Aim for a clean, neutral aesthetic to help buyers envision their own life in the home.

Complete Repairs: Address small maintenance tasks like fixing leaks, replacing broken fixtures, or touching up paint for a polished look.

Stage Key Areas: Focus on staging main living areas and bedrooms with minimal, inviting furniture arrangements to create a spacious feel.

If you’re looking to sell your home, reach out to the real estate experts at Peak, Swirles & Cavallito Properties. We can connect you with trusted professionals to help prepare your home for the market and guide you through the selling process.

This content was generated using AI tools.