Lochmere Home Sales Update - October 2013

Lochmere Home Sales Update - October 2013

Lochmere Property Values on the Rise

There has been a steady sale of home in Lochmere in 2013. The chart below details the home sold in Lochmere to date. The $300,000 price range saw the most sales for two reasons. One, the majority of home in Lochmere fall in the category and two because this is a very hot price point for buyers across the board. The $400,000 price point saw quite a bit of turnover this year. This is a more challenging price point in our market, but it just goes to show Lochmere is a desirable neighborhood.

The overall Triangle real estate market saw a major improvement in 2013. In Wake County, compared to October of last year, New Listings were up, Closed Sales up, Average Sales Price up, and Year to Date # of Homes Sold were also up. Average Days on Market dropped substantially this year signaling a strengthening housing market. Lochmere was on track with this trend. Some of the higher priced listings in Lochmere moved in October however, price adjustments still need to be made by some sellers to meet the market.

If you would like more detailed information about how this and other market data affects you as a homeowner in Lochmere or as a buyer seeking your dream home in Lochmere, CONTACT US today for a consultation.

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