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Hey everyone, welcome back to my blog. Today I am going to discuss the current market conditions for the Triangle Real Estate Market. Many people think that our market is one giant entity. In fact, there are many sub-markets within our major market and depending on the inventory and demand, the ranges vary greatly.
For example, if you're looking for a house that's less than $400,000, you are looking in a seller's market. For homes in the $400,000- $700,000 price range, we are in a more balanced market. As for homes in the $700,000+ range, we are in a buyer's market.
One thing that is really driving our market right now is our current inventory, which is down by about 10% from this time last year. However, we have noticed a recent spike in sellers putting their homes on the market.
Another driver is interest rates, which have been historically low now for quite some time. They are expected to rise within the year, so now is a great time to purchase a home in order to lock in that low interest rate.
If you have any other questions for us, feel free to give us a call or send us a quick email. We look forward to speaking with you!
For example, if you're looking for a house that's less than $400,000, you are looking in a seller's market. For homes in the $400,000- $700,000 price range, we are in a more balanced market. As for homes in the $700,000+ range, we are in a buyer's market.
One thing that is really driving our market right now is our current inventory, which is down by about 10% from this time last year. However, we have noticed a recent spike in sellers putting their homes on the market.
Another driver is interest rates, which have been historically low now for quite some time. They are expected to rise within the year, so now is a great time to purchase a home in order to lock in that low interest rate.
If you have any other questions for us, feel free to give us a call or send us a quick email. We look forward to speaking with you!
