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This content was presented by Mark Zimmerman at the 2013 Orange-Chatham Development Briefing. The error in dates was one in computer formatting, not of the presenter. Please refer to this PDF for the best information on residential real estate.
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Orange-‐Chatham County Development Briefing
The Residen;al Real Estate Market
September 11, 2013 Mark Zimmerman
All data provided by Triangle Mul;ple Lis;ng Service and
10K Research and Marke;ng
2012 Through 2013 Do We Have Momentum Yet?
25
25 15
25 15 21
25 Triangle
15 Orange County
21 Chatham County
Consecu;ve Month Sales Growth Increase vs YA
2012 was a Good Year 2013 is a Be'er Year
• Sales up • Prices up • Days on Market down
• Inventory down
Bye, Bye Buyers Market
• Market Back to Equilibrium or BeUer – 6 months supply in Chatham • vs 8 months YA
– 4 months supply in Orange • vs 6 months YA
0%
20%
40%
60%
80%
100%
120%
140%
160%
Triangle Sales vs YA
0
500
1000
1500
2000
2500
3000
3500
Triangle Sales
Triangle Strong
0
50
100
150
200
250
300
Orange County Sales
0%
20%
40%
60%
80%
100%
120%
140%
160%
Orange County Sales vs YA
Orange, Too.
0
20
40
60
80
100
120
Chatham County Sales
0% 20% 40% 60% 80% 100% 120% 140% 160% 180%
Chatham County Sales vs YA
And Chatham
0 2000 4000 6000 8000 10000 12000 14000 16000 18000
Triangle Inventory
Moving Thorough Inventory
0%
20%
40%
60%
80%
100%
120%
Triangle Inventory vs YA
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
Triangle Ave Sales Price
0
20
40
60
80
100
120
140
160
Triangle Days on Market
Selling Faster, For More
$242,153 95
0
200
400
600
800
1000
1200
Orange County Inventory
Moving Thorough Inventory
0%
20%
40%
60%
80%
100%
120%
Orange County Inventory vs YA
Selling Faster, For More
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000
Orange County Ave Sales Price
0
50
100
150
200
Orange County Days on Market
$345,607 99
84% 86% 88% 90% 92% 94% 96% 98% 100% 102% 104%
Chatham County Inventory vs YA
0
100
200
300
400
500
600
700
800
Chatham County Inventory
Moving Thorough Inventory
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000
Chatham County Ave Sales Price
0 20 40 60 80 100 120 140 160 180
Chatham County Days on Market
Selling Faster, For More
$320,040 112
1st Half 2013 -‐ Sales vs YA New Construc;on
Triangle Orange Chatham
Total +28% +30% +29%
New +12% +63% +8%
Resale +32% +28% +40%
% New 19% 13% 39%
1st Half, 2013 Sales by Price
23%
41%
22%
14%
Orange County Price Points
0-‐200
200-‐400
400-‐600
600+
21%
50%
23%
6%
Chatham County Price Points
0-‐200
200-‐400
400-‐600
600+
Detached vs Condo/Townhouse 1st Half 2013
72%
28%
Orange County
Detached
Mul;
91%
9%
Chatham County
Detached
Mul;
We Are Less Distressed
• TMLS distressed lis;ngs down – -‐38% below YA
• Only 3% of Lis;ngs – vs 5% YA
2013 Momentum Has Shiced
• Sales, Prices up • Inventory, Days on Market down
• Showings, Pendings Remain Strong
• Moving to a Seller’s Market
• Coming Shortage of New Construc;on
2013 Momentum Has Shiced
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