Median home sales in Cumberland County up slightly
Newly released data for July shows that potential buyers and sellers in Cumberland County saw houses sell for slightly higher than the previous month's median sale price of $209,000.
The median home sold for $210,000, an analysis of data from Realtor.com shows. That means July, the most recent month for which figures are available, was up 0.5% from June.
Compared to July 2022, the median home sale price was up 0.1% at $210,000 compared to $225,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.fayobserver.com.
Median selling price up
Looking only at single-family homes, the $212,000 median selling price in Cumberland County was up 1.4% in July from $209,000 the month prior. Since July 2022, the sale price of single-family homes was up 0.1% from a median of $217,500.
Three condominiums or townhomes sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in July 2022.
Condominiums and townhomes decreased by 20.9% in sales price this July to a median of $167,000 from $211,000 in June. Compared to July 2022, the sale price of condominiums and townhomes was down 0.2% from $168,500. No condominiums or townhomes sold for at least $1 million or more this July.
Recorded sales drop
In July, the number of recorded sales in Cumberland County dropped by 0.3% since July 2022 from 614 to 451. All residential home sales totaled to $102.7 million.
In North Carolina, homes sold at a median of $325,000 this July, the same as $325,000 in June. There were 12,802 recorded sales across the state this July, down 0.3% from 17,985 recorded sales in July 2022.
The total value of recorded residential home sales in North Carolina decreased by 8.9% from $7.2 billion in June to $6.5 billion this July.
Out of all residential home sales in North Carolina, 0.1% of homes sold for at least $1 million in July, up from 0.06% in July 2022.
Sale prices of single-family homes across North Carolina increased by 0.5% from a median of $325,000 in June to $326,687 in July. Since July 2022, the sale price of single-family homes across the state was slightly up from $325,573.
Across the state, the sale price of condominiums and townhomes dropped 2.7% from a median of $325,000 in June to $316,250 this July. The median sale price of condominiums and townhomes is slightly up from the median of $310,000 in July 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices and then dividing it by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. 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 median home sales up over 2022
