Cumberland County home prices fell slightly in August
The median home in Cumberland County listed for $312,475 in August, down 0.8% from the previous month's $314,950, an analysis of data from Realtor.com shows.
Compared to August 2022, the median home list price increased 10.4% from $280,450.
Cumberland County's median home was 1,998 square feet, listed at $152 per square foot. The price per square foot of homes for sale is up 11.1% from August 2022.
Homes in Cumberland County moved briskly compared to the August national average, with a median of 37 days on the market for listed houses. In the previous month, homes had a median of 40 days on the market. Around 486 homes were newly listed on the market in August, a 15% decrease from 572 new listings in August 2022.
The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market, along with other useful community data, is available at data.fayobserver.com.
Across the Fayetteville metro area, median home prices fell to $335,950, slightly lower than a month earlier. The median home had 2,064 square feet, at a list price of $160 per square foot.
In North Carolina, median home prices were $421,000, a slight decrease from July. The median North Carolina home listed for sale had 2,051 square feet, with a price of $215 per square foot.
Throughout the United States, the median home price was $435,450, a slight decrease from the month prior. The median American home for sale was listed at 1,907 square feet, with a price of $223 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices and then dividing it by the number of homes sold. The average can be skewed by one particularly low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The Fayetteville Observer: Cumberland County, NC home prices in August
