Longleaf Pine REALTORS Reports Steady Growth in Local Housing Market
Contact Information
Zan Monroe
CEO of Longleaf Pine REALTORS®
communications@longleafpinerealtors.com
910-323-1421
FOR IMMEDIATE RELEASE
Longleaf Pine REALTORS Reports Steady Growth in Local Housing Market
Local housing market demonstrates strong demand and price resilience
Median sales price for single-family existing homes rises by 4.7% to $268,500
National median existing-home price hits record high of $407,600, with inventory levels up 16.3% year-over-year
FAYETTEVILLE, NC – 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.
ABOUT Longleaf Pine REALTORS® ASSOCIATION
Created in 1946, Longleaf Pine REALTORS® Association stands as a premier professional real estate trade association, representing the interests of over 2,500 REALTOR® members and business professionals. Its mission is to empower its members by providing essential tools and resources, fostering an environment conducive to their success in the dynamic real estate industry. Learn more at https://www.longleafpinerealtors.com/.
