Market Report - Holly Springs Area Southwest Cary NC
Holly Springs Area New Home Inventory Down 39%
Homebuyers have fewer choices - New Home Listings Down Significantly
Looking for a new home in Holly Springs, Fuquay-Varina, or southwest Cary NC? Thinking the choices have gotten a little thinner? You're right....
New Home inventory in Holly Springs Area and Southwest Cary was down 39% in November 2009 versus November 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 6 to 10 homes.
No single family new homes were available under $150,000 in Cary/Holly Springs/Fuquay Varina.
The $500-599K price range had the most significant reduction of Holly Springs Area new home choices - from 47 homes in 2008 to only 23 homes in third quarter 2009, a new home inventory reduction of 51%.
Holly Springs area new homes in the $600-799K range saw a 46% reduction in inventory levels.
And new home listings in the $400-499K price range saw a 45% reduction, from 88 homes to 48 homes, while Holly Springs area new homes in the $300-399K price range saw a 43% reduction in available homes, from 133 homes to 76 homes.
Overall New Home Listings in Cary/Holly Springs/Fuquay Varina November 2009
On December 1, 2008, there were 602 new homes listed in the Holly Springs Area Southwest Cary area.
On December 1, 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?
Showings in November 2009 were UP 7% to showings in September 2009. We normally see a seasonal decline in November.
If you're looking to purchase in these price points, you'll have more competition for your new home.
Holly Springs area new homes in the $200-299K price point were most active in November. These homes saw 28% of all showings.
$300-399K new homes in Holly Springs/Fuquay/SW Cary area were the second most active. But on a "showings per home" basis, they saw the most competition for new homes. 27% of showings were in this price point, but only 21% of the available new home inventory is in this price range.
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
EXCELLENT news, Penny! Our stats look very similar and right now I'm working with a couple in that $300K range and there are far less out there for them to see than there was a couple of months ago. Since that is one of the most popular ranges here in Charlotte also, buyers are having to nab them quickly in order to avoid a bidding war!
Enjoy your weekend and your holiday!
Debe - it's really amazing how much lower the inventory levels are than they were a year ago. I keep hearing different builders say they are cancelling incentives, because they don't have any "sitting" inventory!