A few January MLS Fun Facts:

• On average, residential property sold for 93% of the original asking price.

• 24% of sales were cash closings

• Duck oceanside had the highest Average Sales Price at $1,567,000 (min 3 sales)

• Salvo Oceanside had the highest Median Sales Price at $1,210,000 (min 3 sales)

• Sales ranged from $211,150 for a 3-bedroom home in Grandy to a 5-bedroom home in Duck which sold for $2.6 Million after being on the market for 200 days!

Mortgage Tip: Trigger Leads

Over the past 6 months, lenders have seen a very dramatic increase in trigger leads.  A trigger lead is when the credit bureaus sell a customer’s information for solicitation purposes.  This is “triggered” when they have their credit run by a mortgage company.  These companies that paid for this info, then inundate the customer with calls trying to get the customer to use their company instead.  One way to help prevent this is to Opt-out of these leads, before applying for pre-approval.  You can opt-out here https://www.optoutprescreen.com/ and it usually takes a few days to become effective.  You can then have their credit run with minimal outreach from third-party lenders.

Image Source:  https://www.freddiemac.com/pmms

Predictions Moving Forward-

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.

Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before.

So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.