The housing market continues to boast healthy sales for the second quarter of 2016. According to market indicators reported by Triangle MLS, New Listings in the Triangle region decreased 0.6 percent to 4,650 (compared to May 2015). Under Contract Sales were up 16.4 percent to 4,171. Inventory levels fell 19.8 percent to 8,499 units. The Median Sales Price increased 2.9 percent to $232,500. Days on Market was down 17.2 percent to 48 days and Months Supply of Inventory was down 27.5 percent to 2.9 months, though holding steady since March.
Since February 2016, prices in the Triangle have continued to increase, while Days on Market have continued a steady decrease – good news for sellers. Low mortgage rates are still favoring serious home buyers who have done their homework and are ready to act quickly when the right house comes on the market.
For information about how the local market affects your real estate needs, contact Peak Swirles & Cavallito Properties.
