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Fayetteville-area home prices rise 3.9% in August, with houses for sale in high demand

A typical Cumberland County home listed for $280,450 in August, up 3.9% from the previous month's $270,000, an analysis of data from Realtor.com shows.

The median list home price in August was up about 38.5% from August 2021. Cumberland County's median home was 2,100 square feet for a listed price of $137 per square foot.

The Cumberland County market was busy, with a median 39 days on market. A month earlier, homes had a median 35 days on market. The market added 572 new home listings in August, compared with the 656 added in August 2021. The market ended the month with some 505 listings of homes for sale.

The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are 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 is available through the USA TODAY Network, with more data from Realtor.com.

Across metro Fayetteville, median home prices rose to $304,800, up 7% from a month earlier. The median home had 2,151 square feet, at a list price of $140 per square foot.

Across all of North Carolina, median home prices were $410,640, falling 2% from a month earlier. The median North Carolina home for sale had 2,090 square feet at list price of $209 per square foot.

Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one 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. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on The Fayetteville Observer: Fayetteville-area homes for sale rise to $280,450 median price