The Chapel Hill Year End Market Report

I am happy to report that the 2009 Chapel Hill real estate market ended on a high note. Overall all, while sales were still down, they were down much less than the 25% decline we saw in 2008 and thankfully prices held their own.

As the year ended, Chapel Hill Houses For Sale saw:

• Closed sales decline 8.1% (rather than 12% at the end of November),
• Median prices were up 2.7%,
• Average prices declined 1.6%, and
• Days on market increased from 83 to 97.

While it took longer to get homes sold, most houses did sell and prices did not erode significantly.  I take this as success in a difficult time. I am looking forward to a robust 2010 as our economy begins to improve.

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