Our year-end home sales are in and the Triangle faired well in 2007. While certain real estate markets across the country have struggled, our market remained steady.

• In Chapel Hill we had a 4% decline in sales but we also saw a 7% increase in average prices. Much of the decline in Chapel Hill home sales is due to the overall lack of new construction.
• In Orange County, not only was there a 4% increase in home sales, there was an 11% increase in average sales prices. Orange County is seeing growth in new construction.
• In Durham, sales stayed relatively constant from 2006 to 2007. Despite static growth, average prices increased 5%.
• Wake County, the home of Raleigh, Cary and Apex, saw the largest decline in sales at 7% but their average prices also increased by 6%.

Overall, our real estate market did well in 2007 given what is happening nationally. We have turned the corner into the New Year and we are off to the races!

Chapel Hill | Durham North Carolina Real Estate