Welcome to the June 2023 Real Estate Market Report for Fuquay-Varina, NC, brought to you by Jonathan Owens of Owens Realty Team powered by Fathom, an award-winning Realtor with 14 years of experience in the greater Triangle area of North Carolina. In this blog, we’ll dive into the latest market statistics and trends in Fuquay-Varina to help you make informed decisions whether you’re buying or selling a home in this vibrant community.
Market Statistics:
- Median Home Price: In June 2023, the median home price in Fuquay-Varina reached $445,900. This represents a 0.4% increase compared to the previous year, indicating a steady rise in property values.
- Homes Sold: Over the course of June, a total of 182 homes were sold in Fuquay-Varina. This suggests a vibrant real estate market with significant buyer activity.
- Days on Market: Homes in Fuquay-Varina are in high demand, as the average time it takes to sell a property is just 7 days. This rapid turnover demonstrates the competitive nature of the market.
- Inventory: As of June 2023, there were 281 homes available for sale in Fuquay-Varina. While the inventory is relatively low, the number of homes for sale has decreased by 10% year-over-year, indicating a tightening market.
- List Price to Sales Price: Sellers in Fuquay-Varina are experiencing favorable conditions, with homes selling for an impressive 98.3% of their list price. This signifies a strong seller’s market and competition among buyers.
Market Trends:
- Home Price Appreciation: Fuquay-Varina is witnessing a modest yet steady increase in home prices, with a 0.4% rise in June compared to the previous year. This trend bodes well for homeowners and highlights the desirability of the area.
- Median List Price: The median list price has seen a notable 5% increase, indicating strong seller confidence in the local market’s potential for growth.
- Median Sales Price: Home sellers have reason to smile, as the median sales price has risen by 7%. This points to a robust demand for properties in Fuquay-Varina.
Acting Swiftly in a Competitive Market: With low inventory and homes selling above asking price, buyers need to act quickly to secure their dream home in Fuquay-Varina. The 7-day average time on the market underscores the urgency of making timely offers and being prepared for potential bidding wars. As a trusted Realtor in the Triangle area, Jonathan Owens and his team at Owens Realty understand the dynamics of the local market and can guide you through the home buying process, making sure you stay competitive.
Living in Fuquay-Varina: Beyond the bustling real estate market, Fuquay-Varina offers a wonderful quality of life. Boasting a robust economy and top-notch schools, it’s an ideal place to call home for families and individuals alike. The town’s charm, friendly community, and array of recreational activities make it an attractive destination for newcomers.
In conclusion, the real estate market in Fuquay-Varina, NC, is currently thriving with a steady increase in home prices, low inventory, and fierce competition among buyers. As a seasoned Realtor with a deep understanding of the local market, Jonathan Owens and his Owens Realty Team powered by Fathom can assist you in navigating this dynamic landscape. Whether you’re buying or selling, acting swiftly and seeking professional guidance will be crucial to achieving your real estate goals in this vibrant and sought-after community.
