Market Report - Holly Springs Area Southwest Cary NC
Holly Springs New Home Inventory Dropped 40%
Fewer Choices for Homebuyers in 3rd Quarter - New Home Listings Down
Looking for a new home in Holly Springs NC? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in Holly Springs Area and Southwest Cary was down 40% in third quarter 2009 versus third quarter 2008.
New Home Listings by Price Point in Holly Springs/SW Cary/Fuquay Varina
There was less Cary/Holly Springs/Fuquay Varina new home inventory in every price point except for the million dollar plus range, which increased from 7 to 9 homes.
Only one single family new home listing was available under $150,000 in Cary/Holly Springs/Fuquay Varina.
The $400-499K price range had the most significant reduction of Holly Springs Area new home choices - from 108 homes in 2008 to only 51 homes in third quarter 2009, a new home inventory reduction of 53%.
Holly Springs area new homes in the $500-599K range saw a 46% reduction in inventory levels.
And new home listings in the $300-399K price range saw a 44% reduction, from 131 homes to 73 homes.
Overall New Home Listings in Cary/Holly Springs/Fuquay Varina Third Quarter
In third quarter 2008, there were 615 new homes listed in the Holly Springs Area Southwest Cary area.
In third quarter 2009, there were only 366 new homes listed in the Holly Springs Area Southwest Cary area.
Builders are building fewer homes, and more home buyers are opting for completely custom packages, in every price point.
What Price Points are getting the most showings in Holly Springs Area and Southwest Cary?
If you're looking to purchase in these price points, you'll have more competition for your new home.
$300-399K new homes in Holly Springs Area saw twice the average number of showings in third quarter 2009. 33% of all new home showings were in this price point, while only 19% of total inventory is in this price bucket.
Compare With Other Areas of the Triangle
Looking for more information on new homes in the Holly Springs, southwest Cary, Fuquay Varina area?
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Hi Penny -- Powerful post here if one is in the market for a new home. Has the inventory dropped because they sold and nothing else is coming online or ???
Chris - September 2009 Triangle home sales were up versus the previous year for the first time since 2007. And spec building has decreased considerably. So it's a combination - improving home sales and decreased construction of new homes.