Pittsboro Real Estate Update


  • May 2024 (May 2023)
    • Number Sold: 39 (26)
    • Average Price: 708,102 (715,554) -1%
    • Avg/MedDays: 21/4 (76/61)
    • Price/Square Ft: 258 (255) +1.2%
    • Inventory: 3.2 (1.6) Doubled

  • Year to Date (Last Year)
    • Number Sold: 109 (89)
    • Average Price: 653,531 (609,510)
    • Avg/MedDays: 31/13 (70/48)
    • Price/Square Ft: 250 (231) +8.2%)
    • Inventory: 2.4 (1.6) +50%)


Continued good news for those considering selling your home and it gets even better when you drill down into the numbers.  The headline is that homes are going under contract at the same speed as they were in 2021-22 with just 21 days on average.  Quicker sales are always expected in the Spring Market, however last year we were looking at 76 average days thanks to the extended “sticker shock” of interest rates jumping in May 22.  It seems as though the market has adjusted and accepted higher rates, even though it might not like it (and who would, to be honest, but c’est la vie).  


The only clarification I see in the May sales figures is the average sales price, down about 7,000 or 1% compared to last year.  Looking more closely you’ll see that the average sales price per square foot actually went UP 1.2%.  Last month the average resale clocked in at 2,607 square feet whereas last year the average resale was 2,667 square feet. 

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