Cumberland County home prices fell slightly in November
The median home in Cumberland County listed for $305,853 in November, down 0.5% from the previous month's $307,327, an analysis of data from Realtor.com shows.
Compared to November 2022, the median home list price decreased 3.2% from $315,213.
The statistics in this article only pertain to houses listed for sale in Cumberland County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.fayobserver.com.
Cumberland County's median home was 1,994 square feet, listed at $152 per square foot. The price per square foot of homes for sale is up 6.1% from November 2022.
Listings in Cumberland County moved steadily, at a median 44 days listed compared to the November national median of 52 days on the market. In the previous month, homes had a median of 40 days on the market. Around 386 homes were newly listed on the market in November, an 11.5% decrease from 436 new listings in November 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.
Across the Fayetteville metro area, median home prices fell to $326,400, slightly lower than a month earlier. The median home had 2,000 square feet, at a list price of $160 per square foot.
In North Carolina, median home prices were $402,500, a slight decrease from October. The median North Carolina home listed for sale had 1,983 square feet, with a price of $215 per square foot.
Throughout the United States, the median home price was $420,000, a slight decrease from the month prior. The median American home for sale was listed at 1,858 square feet, with a price of $221 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 then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
This article originally appeared on The Fayetteville Observer: Cumberland County, NC home prices fell in November
