Hello Friends, welcome to July!
July 4th is just around the corner and we will celebrate 246 years of our independence. We wish all of you a Happy Independence Day and hope you celebrate big with family and friends in your favorite patriotic way!
If you are looking for fireworks, we have all the details ready and available for you.
Click here for a list of fireworks in the Triangle area.
Let us take a look at the most recent stats from the Triangle MLS for the "entire Triangle" and the "Cary/Apex/Morrisville" areas. As you will see, New Listings are up, and Home Inventory numbers show that "supply and demand" are hopefully returning to a more balanced market. Time will tell!
That being said, Median Sale Price shows our market value has remained strong and the drastic jump we saw over the last year was not a temporary spike. We’re grateful to be living in such a popular area and in most scenarios, it’s still an ideal time to purchase versus renting. And we’re still in a great seller’s market too!
MARKET UPDATE
(Entire Triangle)
May 2021 vs May 2022
NEW LISTINGS: 5714 vs 6319 +10.6%
CLOSED SALES: 5091 vs 4906 -3.6%
MEDIAN SALE PRICE: $315,835 vs $385,000 +21.9%
PERCENT OF LIST PRICE RECEIVED: 103% vs 105.2% +2.1%
DAYS ON MARKET UNTIL SALE: 14 days vs 10 days -28.6%
INVENTORY OF HOMES FOR SALE: 3325 vs 4181 +25.7%
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(Cary/Apex/Morrisville only)
NEW LISTINGS:
567 vs 593
+4.6%
CLOSED SALES:
524 vs 464
-11.5%
MEDIAN SALE PRICE:
$438,195 vs $595,500
+35.9%
PERCENT OF LIST PRICE RECEIVED:
104.6% vs 107.9%
+3.2%
DAYS ON MARKET UNTIL SALE:
7 vs 4
-42.9%
INVENTORY OF HOMES FOR SALE:
184 vs 356 +93.5%
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