Showings in the Wake County, North Carolina market have seen a decline, with average daily showings for August 2023 at 584.
This decrease indicates a downturn in the number of contracts written and closed in the coming months. Lack of inventory seems to be the main factor.
In July, the average daily showings were down to 660 from 716 in July 2022. July contracts written dropped from 1501 to 1431.
To put this into perspective, August 2022 had an average of 705 daily showings and 1,607 contracts, while month-to-date figures show 584 average daily showings and 1,051 contracts written.
The average number of showings per listing increased to 8.2 from 7.4 which is a great sign for sellers.
Sellers, the world is yours, many homes are still selling at unseen prices in very short periods of time. The right agent, appropriate preparation and market understanding is crucial.
Existing homeowners currently paying around 3% interest rates have little
motivation or desire to move.
The spring market was solid and price increases kept Gross Commission Income in the ball park of last year. Q3 is likely to paint a completely different picture for brokerages.
YTD Wake County Real Estate Sales vs. 2022
Number of Sales:
Sales Volume $
Average Sales Price:
There is a lot going on behind those numbers, if you would like to discuss how they impact your situation (selling your home, or growing your brokerage) let's talk.