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Real Estate Agents & the Home Buying Process
Real estate agents continue to play a pivotal role in guiding buyers through an increasingly complex and competitive housing market. In 2024, 88% of home purchases were made through agents or brokers. Even among buyers of newly constructed homes—where builder agents are often available—63% still opted for a real estate professional, while 92% of those buying previously-owned homes relied on one. These findings from the NAR 2024 Profile of Home Buyers and Sellers, demonstrate the enduring value of real estate agents in the home buying process.
Buyers primarily seek agents’ assistance to find the right home (49%) and negotiate favorable terms (14%). These services are complemented by an agent’s ability to simplify the often-complex buying process. More than half of buyers (53%) said their agent helped them understand the process. This proved especially critical for first-time buyers, with 80% citing this service as invaluable.
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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 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.
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