Summer is almost here! According to the Triangle MLS Monthly Indicators, pending sales were up across the Triangle 35.2% and there is now a 5 month supply of homes on the market, the lowest level since August 2007. Prices have moved higher in certain price points. The Median Sales Price in the Triangle increased 2.2% to $194,200. The Days on Market (DOM) was down 9% to 115 days. This is the 3rd consecutive month where the average DOM has been lower than the prior month. The May average is the lowest since December 2010.  
 
According to Dave Bracken, a Real Estate writer for the News & Observer, "The Triangle housing market continued its run of positive growth sales in May, with sales increasing 28%. While it is certainly easier to sell a house now than it was a year ago, it remains very much a buyers market, where sellers must make the necessary improvements to their homes and price them aggressively if they hope to find a buyer."

When looking at the number of showings in May, this is what we see: Homes that are priced in the $200-$299k range, have the most number of showings. Homes in the $300-$399k range, produce a high number of showings as well. While real estate numbers continue to improve, real estate sales are tied to consumer confidence and the economy. The more improvements we see related to jobs and domestic growth, the better the Triangle real estate market will be.
 
Watch this video from Stacey Anfindsen to find out the trends in the local Triangle real estate market for May 2012. Click here>http://www.youtube.com/watch?v=UXSOj8HoQro 

There are some great Triangle homes for sale!!
If you would like to sell your home, click here.
If you are interested in buying a home, click here
 
 
 
SEG