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September home sales rise 16% in Triangle

Amanda Jones-Hoyle
Triangle Business Journal
Homes sales in the Triangle in September tapered off a bit from the crazy summer sales months, but homes sales were still up 16 percent year-over-year in September and up 23 percent for the third quarter, according to Triangle Multiple Listing Service.The residential sales market sold 2,325 homes in September compared to 2,895 homes sold in August, but a slight drop in sales going into the fall months is typical in the region.The average home sale price in September was up 4.4 percent to $229,013 compared to the year prior, and the median home sale price was up 3.9 percent.

Tommy Camp, president and CEO of the newly rebranded Berkshire Hathaway HomeServices Carolinas Realty family of companies, says his agents’ sales figures are on a similar track, although they have seen a “little slow-down” in the last 45 to 60 days in the number of pending home sales relative to earlier in the year.

“But, pending sales are still up year over year, which delights us because it says people who had been waiting on the sidelines the last several years are now comfortable with the market and comfortable enough with the future to come back,” Camp says.

At the Heritage community in Wake Forest, 65 homes were sold in the third quarter, nearly matching the 2005 third quarter high of 67 sales, says Andy Ammons, president ofAmmons Development Group and developer of Heritage. New home sale prices at Heritage also continue to rise with a 5 percent increase for the quarter.

“The third quarter results indicate that the market continues to improve,” Ammons says. “We typically see a sales dip during third quarter, but this year we didn’t. And we’re looking forward to a strong fourth quarter finish to 2013.”


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