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"The upper end of the Raleigh-Durham real estate market is insanely hot, according to a new report by Coldwell Banker’s luxury division. Homes valued in the top 10% of listings stayed on the market for a median of three days, according to the new report. The report was based on 2,035 sales in the region between Dec. 1, 2018 and Dec. 31, 2019, or about 170 per month, with a median sales price of $765,000. The highest-priced sale was $4.5 million. Sellers got 99% of their asking price."
Homes valued in the top 10% of listings stayed on the market for a median of three days
Three days from when - when the house was first put on the market, three days from when the price was last adjusted, etc? It may not be case today, but I know in the past, they could play games with the dates/numbers to make things look better.
Three days from when - when the house was first put on the market, three days from when the price was last adjusted, etc? It may not be case today, but I know in the past, they could play games with the dates/numbers to make things look better.
total sales in Triangle 2019: 24,050
therefore, top 10%: 2,405
Ask price of $615K+: 2,444 (close enough?)
the report does consider new construction - 1,010 of the sales.
Another data app we have - which knows to "ignore" new construction - says median days were 28 and average days were 64. Please note this is for actual sales, not all (including for sale). Homes for sale right now have median days on market of 84 and average of 121. Still faster than normal, but not as hot as the CB report would have you believe.
Exactly as Bo say... New construction DOM don't accumulate.
But, heck, I wanted to show a listing when it was scheduled for showing next Thursday, and it went under contract while "Coming Soon" yesterday.
"0" DOM for a resale.
Not really. The headline says the area's real estate market continues to be hot. And as others have noted, its true. And no manipulation needed.
Anyway, I didn't write the report, I merely posted it. So take your condensation and nit picking elsewhere. Thanks.
Look I had my defogger on full blast on the drive home when the snow started falling and that barely helped. I tried.
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