The year 2022 began with home prices soaring to historic highs, driven by mortgage rates seeing historic lows.
In 2019, the average sale price for a home in Southern Orange County* was $437,916 (median $385,050).
In southern Orange County, the average home sales price has typically been lower than the average asking price.
A client recently commented to me that there was a shortage of land, and her comment prompted me to analyze the availability of land and lots in southern Orange County.
I previously investigated several data points within the Triangle Multiple Listing Services (TMLS) to try to determine what evidence existed for a slowing of the housing market.
The big question on everyone’s mind is whether the increase in mortgage rates has finally slowed things down.
Given all we read and hear related to how hot the current real estate market is, one would assume there to be few instances of contracts under asking price and financial concessions given by sellers.
Several recently-published national articles have posited that a housing bubble is coming.
In this hot real estate market, it can seem like every house is bought before it is even available to be toured.
The presence of a homeowner association (HOA) can be a surprisingly polarizing aspect of the home search.
It comes as a shock to no one reading this article that 2021 was a hectic year for real estate.
It seems to start earlier and earlier each year. For some it happens as early as October, even before Halloween and trick-or-treating.
Some of the biggest recent news in real estate came when Zillow announced last month it would pause its purchases of homes as part of its ZillowOffers program, and then just a week and a half later announced it would be stopping the program entirely and would be laying off 25% of its employees.
What is a condominium? What makes a particular residence a townhome? It is not always immediately clear, when looking at a property,…
“Aren’t all the old homes going to be too small…
In the multiple listing service (MLS) Realtors use to broker the sale of homes, each entry is categorized as a particular “property type.” In the MLS, there…
There is a meme making its way around the internet that features a fictional buyer’s agent submitting an offer on a home with an email that says, “Hi…
Homeownership is a common goal in the United States and is often seen as a key goal to building generational wealth (that is, wealth that is passed from generation to generation).
You have probably heard that the housing market is very competitive this year. Maybe you know someone who has been looking for a new home who has been outbid. Perhaps you heard that your neighbor’s home sold for well above asking price. Possibly you have seen…
The Chapel Hill Town Council could decide the fate of a potential redevelopment of University Place mall this month. The public hearing resumes at the council’s May 5 meeting…
The 2021 Orange County property revaluation saddled residents of the Northside community with, on average, a 50 percent increase in the value of their homes…
Tony Hall & Associates operated out of the little gray house at 311 West Rosemary St. for 26 years until Feb. 18, when the real estate company moved to 901 Willow Drive in Chapel Hill.
Within the last 24 months, at least one home has sold in each of the more than 265 subdivisions within the five ZIP codes that make up…
The housing market has been booming, and 2021 has started off with faster sales than any recent year.
It is easy to assume that the month of January is slow for real estate. The theory goes that everyone is recovering from the holidays and focused on staying bundled up for the winter and hibernating through at least the Super Bowl.
Nearly every recap and review of last year will begin with some variation of this sentence: 2020 was an unusual year. In place of “unusual,” it may say “unprecedented” or “difficult” or some other pejorative, but without a doubt, 2020 will be remembered.
There is a lake in Chapel Hill that lights up around the holiday season. The annual Light Up the Lake experience in the Lake Forest neighborhood not only brings a beautiful display of illuminations, but also results in helping others in the area.
“Halloween is pretty stellar in Colony Woods,” says resident Jenn Mallen. “We draw folks from other neighborhoods.”
Anthony Edwards, who lives in the Briarcliff neighborhood of Chapel Hill, says the residents there show considerable care for each other.
The old saying, “may you live in interesting times,” would probably ring true if you have been in the market to buy or sell a home in southern Orange County in 2020. With the impact of COVID-19, low housing inventory and the dramatic drop in interest rates, the housing market of 2020 so far has been a wild ride.