The median home in Cumberland County listed for $299,706 in August, flat to the previous month's $305,100, an analysis of data from Realtor.com shows.
Compared to August 2023, the median home list price decreased 4.1% from $312,475.
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 1,896 square feet, listed at $155 per square foot. The price per square foot of homes for sale is up 2.2% from August 2023.
Listings in Cumberland County moved slowly, at a median 50 days listed compared to the August national median of 53 days on the market. In the previous month, homes had a median of 41 days on the market. Around 464 homes were newly listed on the market in August, a 4.5% decrease from 486 new listings in August 2023.
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 rose to $325,000, slightly higher than a month earlier. The median home had 1,981 square feet, at a list price of $164 per square foot.
In North Carolina, median home prices were $415,000, a slight decrease from July. The median North Carolina home listed for sale had 1,980 square feet, with a price of $218 per square foot.
Throughout the United States, the median home price was $429,990, a slight decrease from the month prior. The median American home for sale was listed at 1,853 square feet, with a price of $228 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.
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.