How is Cumberland County’s actual property market? House costs rose over yr

The median gross sales value for a single-family dwelling in Cumberland County throughout July was $194,000. That is a rise of 19% in contrast with July 2020, in response to knowledge from Realtor.com.

The variety of homes offered rose by 17.1% from a yr earlier. A complete of 623 homes had been offered county-wide in the course of the month of July. Throughout the identical interval a yr earlier, 532 single-family properties had been offered.

Actual property gross sales can take weeks or months to be recorded and picked up. That is the most recent knowledge made obtainable by means of the Nationwide Affiliation of Realtors to the USA TODAY Community.

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Condominiums and townhomes offered in July had a median gross sales value of $180,000. That determine represents a 102.2% improve year-over-year. In Cumberland County, 17 had been offered, down 48.5% from a yr earlier.

How scorching is Cumberland County’s actual property market in North Carolina?

Data in your native housing markets is accessible by means of the USA TODAY Community, with extra knowledge from the Nationwide Affiliation of Realtors.

The highest 10% of the properties offered had costs of a minimum of $320,000, up 3.9% from a yr earlier than.

In July, one property offered for $1 million or extra: one single-family dwelling.

The median dwelling sale value — the halfway level of all the homes or models offered over a time frame — is used on this report as an alternative of the common dwelling sale value as a result of consultants say the median affords a extra correct view of what is occurring in a market. Find the common value, all costs of properties offered are added after which divided by the variety of properties offered. This measure could be skewed by one low or excessive value.

The USA TODAY Community is publishing localized variations of this story on its information websites throughout the nation, generated with knowledge from the Nationwide Affiliation of Realtors at Realtor.com.The story was written by Sean Lahman.

This text initially appeared on The Fayetteville Observer: Cumberland County’ common dwelling offered for the next value than final yr

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