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Cary Apex Morrisville Market Report

The Triangle Area Residential Realty Report (TARR Report) numbers are in for the 2nd quarter of 2008.

Published by Stacey P. Anfindsen, an active real estate appraiser, educator and consultant, the TARR Report is the premier publication for Real Estate statistics in the Triangle Area of North Carolina.

Here are some of the numbers for the 2nd quarter of 2008 for the Cary, Apex and Morrisville areas.

The average list price of homes in Apex has dropped by 4%, increased by 1% in Cary and dropped by 19% in Morrisville while the average sales price has increased in Apex by 1%, increased in Cary by 3% and increased in Morrisville by 7%.

The average days on the market in these areas is 77 for Apex and Cary and 90 for Morrisville.

Home sale prices for Apex are averaging $264,896. The average sales price for homes in Cary and Morrisville are $345,050 and $269,708 respectively.

There is currently a 6 month supply of homes on the market in Apex and Cary, while Morrisville has a 7 month supply.

Thankfully though, despite some numbers that aren't the greatest, the average annual appreciation for homes in this area is 4.68%. Compared with national numbers that number shows that we still have a strong market here in the Triangle region of North Carolina.

Posted by Craig Rutman North Carolina (Raleigh Area) Realtor on 09/04/2008 11:29 AM

Comments (5)

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5 Comments on Cary Apex Morrisville Market Report

Thanks for the breakdown Craig. Let's hope for better numbers for August.

09/05/2008 08:47 AM

by Linda Jandura North Carolina Realtor (Home Buyer & Seller Specialist)

Appreciating is APPRECIATING! I think it's wonderful news! Thanks!!

09/05/2008 10:54 AM

by Eleanor Thorne, Cary Mortgage Loans (Meridian Residential)

Nice post. I think you and I are the only ones that like to bother w/market reports Craig.

09/05/2008 06:47 PM

by Tracy Santrock-Cary NC Real Estate Blog (Fonville Morisey)

Hi Tracy,

If you check out my partner Linda's blogs, you can see we're both very interested in the numbers and what they mean to our market. She usually posts those numbers each month...I just beat her to it this month!

Any agent, in any market, should know what their market is doing.

I don't care if you sell ties, widgets or shoes. If you don't know your product and the numbers associated with it you can't sell it effectively.

09/06/2008 07:30 AM

by Craig Rutman North Carolina (Raleigh Area) Realtor (Home Buyer and Seller Specialist)

Good information for consumers. Hope they read it. Good luck.

09/18/2008 11:13 AM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)