There is more good Real Estate news for the Triangle Housing Market. Here are some of the statistics shared by way of Triangle Multiple Listing Service:

New listings are down from one year ago. A decrease in listings means the market is tightening up. Inventory levels are down. As more buyers go under contract, there is less inventory for buyers to choose from. Pending sales are up in the past 12 months. This is a continuing trend for 2012. As we move into spring and summer, I expect this to continue.

Median sales slightly increased. Closed sales in the past 12 months are up 3.8%. Days on the market are still up. What this means is that home prices are slowly starting to turn the corner, there is modest growth, and that sellers need to be patient when trying to sell their home.

As a real estate broker, I love to see lower inventory of homes because it means I am helping my buyer clients find great homes, as well as meeting our homeowner clients goals by helping their houses sell.

I love when the months supply of inventory goes down. It means real estate in Durham, Chapel Hill and the Triangle area is selling. If you are interested in buying a home or wondering what the value of your current home is, call me. It would be my pleasure to discuss our services with you.