Woodcroft and Hope Valley Farms Home Sales - 2009 Update through 2-23-09

There have been 10 sales in Woodcroft and Hope Valley Farms so far in 2009, compared to 17 sales for the same period in 2008. Both neighborhoods consistently rank in the top 10 of all Triangle, NC area (Raleigh, Durham, and Chapel Hill) neighborhoods.

Search the MLS for all available Woodcroft and Hope Valley Farms homes now!

Triangle NC Area includes more than just Raleigh, Durham, and Chapel Hill - Update on Chatham County Real Estate

Sure, everybody wants to know about market conditions and the average sale price of homes in Chapel Hill, Raleigh, and Durham, but did you know the Triangle Multiple Listing Service includes an additional 16 counties? One of these counties, Chatham, (view map) is located south of Orange, Durham, and Alamance and west of Wake.

The average sale price of homes in Chatham County is currently $342,582, down about 6% from January 2007. The total number of real estate transactions dropped almost 60% in Chatham County from January 2007 levels. Chatham County inventory is currently up about 25%. Use the 'contact Mark Thomas' link on the right side of this page and ask for the complete Chatham County real estate market summary.

Triangle NC Real Estate Available Inventory Levels and Market Absorption Rate

As of January 31, 2009 there were 17,460 properties on the market. The average days on market is 102. We currently have a 12.8 month supply of homes. Use our FREE search tool to find your perfect home from all available MLS inventory!

Average Sale Prices of Triangle, NC Area Homes, Including Orange, Durham, and Wake Counties

In January 2009 the average sale price of a home in the Triangle, NC area market was $224,831, compared to $225,175 in January 2007. This is a slight decrease of only 0.2%.

Looking at average home prices by county:

Orange County (includes Chapel Hill and Hillsborough) home prices fell the most from $342,226 in January 2007 to $291,956 in January 2009 - a 14.7% drop.

Durham County (includes city of Durham) had a more modest drop- $207,088 in January 2007 to $202,380 in January 2009 - a 2.3% decrease.

Wake County (includes Raleigh and Cary) home prices increased - $242,295 in January 2007 to $250,618 in January 2009 - a 3.4% increase.

January 2009 - Number of Triangle NC Area Real Estate Closings Down vs. Same Period 2008

The number of real estate closings in the greater Triangle, NC area for January 2009 is down about 45% compared to January 2008. Wake County, including Raleigh and Cary, is down 44%. Durham County, including the city of Durham is down 46% and Orange County, including the cities of Chapel Hill and Hillsborough, is down 45%. Get the complete 'inside scoop' on the Triangle, NC real estate market.