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The POWER of Understanding the Market

The POWER of Understanding the Market. $9.5 BILLION in sales in 10 years. 63,622 Sales in 10 years. A Look at 2013. Total Existing Homes - 2013. 3,840 Existing Homes Purchased $501,000,000 Total Value $130,480 Average Price 67% of the Home Sales Market. Total Existing Homes.

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The POWER of Understanding the Market

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  1. The POWER of Understanding the Market

  2. $9.5 BILLIONin sales in 10 years

  3. 63,622 Sales in 10 years

  4. A Look at 2013

  5. Total Existing Homes - 2013 3,840 Existing Homes Purchased $501,000,000 Total Value $130,480 Average Price 67% of the Home Sales Market

  6. Total Existing Homes 23% more houses sold 2013 vs. 2012 3,840 vs. 3,132

  7. Total Existing Months Supply 10.5 Months Supply A balanced market is 6 months supply Good News Month’s Supply of inventory has been falling since July 2012

  8. Oversupply in every price range

  9. Cumberland County Existing Homes - 2013 2,464 Existing Homes Purchased $299,651,575 Total Value $111,550 Average Price

  10. Cumberland CountyMonths Supply of Existing Housing 10 Month Supply A balanced market is 6 months supply Good News Month’s Supply of inventory has been falling since July 2012

  11. Harnett County Existing Homes - 2012 492 Existing Homes Purchased $71,440,813 Total Value $149,250 Average Price

  12. Harnett CountyMonths Supply of Housing 12 Month Supply A balanced market is 6 months supply Good News Month’s Supply of inventory has been falling since July 2012

  13. Hoke County Existing Homes - 2012 339 Existing Homes Purchased $42,817,969 Total Value $129,900 Average Price

  14. Hoke CountyMonths Supply of Housing 8.6 Month Supply A balanced market is 6 months supply Good News Month’s Supply of inventory has been falling since July 2012

  15. Some interesting things…

  16. Days on the Market Top 35% = 19 Days Bottom 65% = 116 Days OVERPRICED!

  17. 85% of Existing Housesclosed in less than180 days3,238 / 3,839

  18. 80% of all existing house sales were under $180,000

  19. Financing Choices • VA Loans • FHA Loans • Conventional • Cash 1,511 332 639 1,123

  20. 10 Year Appreciation Rates 10 year average Appreciation 2.03%

  21. 2014 looks a little better than 2013

  22. 2014 Home Sales 6,000 Total Sales 4,200 Existing Sales 1,800 New Construction

  23. What the future looks like? • Volume of Sales will increase 3-5% • Existing Home sale prices will reduce by 1-2% until excess existing inventory has been sold • 2014 looks a lot like 2013…steady growth

  24. This presentation is recorded and available at FayettevilleNCRealtors.com

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