November was a busy month for our market in general. 32 homes sold in Midtown and currently there are 118 on the market for sale. Days on market is back to a short 65 days! The average price for a house sold in November was $237,492 and homes averaged a price per square foot of $123.
Pine Valley (Midtown's largest neighborhood) saw 5 closings in November, with 401 Pettigrew selling for $409,000...the second most expensive house to sell in the neighborhood all year. Earlier this year a home sold for $418,000 on MCEachern Court in Pine Valley. This year's prices have ranged from $159,000 to $418,000 and currently 7 homes are under contract. Finding homes under $200,000 in the neighborhood is getting harder with each passing month.
401 Pettigrew, $409,00 Sales Price, Photo courtesy of Cape Fear Realtors
November also saw movement in the ever popular Brookwood/Carolina Place area and this cute bungalow at 203 Perry Drive sold for $230,000.
Carolina Place Bungalow on Perry, Photo courtesy of Cape Fear Realtors
We expect prices to continue to trend upward and homes under $250,000 to move very fast in 2018. First time homebuyers in the $150,000-250,000 price range must be fast in order to avoid multiple offer situations on hot properties.
For sellers prepping for the spring market we can not reiterate enough that you need to invest in updated kitchens and bathrooms. Modern buyers have logged hours of time in front of HGTV shows and Pinterest, the more your house looks like a magazine, the more money you'll have in your pocket.
For tips on how we get homes sold 45% faster than the market average click here and find out how we dominate digitally for our sellers.