April Was A Hot Month

Dated: 05/03/2017

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Traditionally, April is the busiest month for contracts in most of the region.  How busy was last month?  Let's look!

April 2017 Contracts April 2016 Contracts April 2017 Months of Inventory April 2016 Months of Inventory
Raleigh 990 993 3.8 4.2
Durham 559 549 2.6 3.3
Chapel Hill 209 231 4.0 5.1
Chatham County 130 134 4.4 4.1
Cary 312 326 2.7 2.5
Apex 194 194 2.3 3.8

If you were to just look at the number of contracts written, you might say that the market is slowing down.  However, if you take into consideration the months of supply, you'll see that in most places, there are simply fewer homes to choose from.  Only Cary and Chatham County saw increases in inventory, and those were modest gains.  

This spring looks to be just as hot - if not even hotter than 2016 as buyers try to lock in interest rates before expected increases over the next few months. 

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Michael Cunningham

Michael Cunningham is a Real Estate Broker as well as the go-to tech and marketing wiz at Domicile Realty. A native of Tennessee, Michael arrived in Chapel Hill by way of Washington, DC where he help....

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