Taking a Look at Activity in the Triangle Market

A lot has been happening in the Triangle market this year, and we have interest from all over the world.

A lot has been happening in the market here in the Triangle and I wanted to give you a quick update.

To start, year to date closed sales are up 7%, and for the month of August, closed sales are up 13% here in the Triangle. Yes, this information is from the end of the third quarter, but it gives you an idea of where the market is going.

August was was a blowout month with 13% gain compared to August last year. We also see that distressed property is now at a 43% inventory rate, overall inventory has decreased 10%, and home inventory has increased 2%.

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A lot has been happening in the Triangle market.

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What does this tell us? Homes are selling here in the Triangle! As an agent here, I can tell you that it's difficult to even find homes here because they're selling so fast.

We also saw that 17% of closed sales were financed all by cash, and the monthly housing supply is two months' worth. This means that supply is very low.

If you're looking for a home or even an investment opportunity, the Triangle might be a perfect fit. If you have any questions, give me a call and let's talk soon!

Is the Triangle Real Estate Market in Good Shape?

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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!