Longleaf Pine REALTORS has released its latest market analysis, revealing a 3.0% year-over-year increase in the median sales price for all properties, highlighting steady growth in the local housing market despite broader national trends.
The analysis shows that the median sales price for single-family existing homes has risen by 4.7%, reaching $268,500. This increase suggests robust local demand, even as the number of closed listings year-to-date stands at 2,376.
Nationally, the median existing-home price has reached a record high of $407,600, marking a 5.7% increase from last year. Inventory levels have also improved significantly, with a 9% increase month-over-month and a 16.3% rise year-over-year, providing a 3.5-month supply at the current sales pace.
Longleaf Pine REALTORS remains optimistic about the local market, attributing the resilience in prices to strong demand and solid market fundamentals. This positive outlook demonstrates the local market's ability to weather challenging circumstances and continue to grow.
Real Estate Highlights:
Smith Douglas Homes pictured with the The Lillington Area Chamber of Commerce at the grand opening of their new Reedy Branch community which took place in October. Photo provided by Smith Douglas Homes.A new residential community taking shape in Lill
Walsingham Group Inc., an organization federally recognized for its efforts and emphasis on hiring Veterans is partnering with local and national organizations to recruit, hire and retain Veteran talent. Photo generated using Canva AI.Walsingham Grou
Costumed actors will roam the streets, carriage rides will guide visitors throughout and the traditional candlelight processional and illumination ceremony will be included at this year’s A Dickens Holiday. Photo provided by A Dickens Holiday, taken
