An improving Research Triangle Real Estate Market

Happy New Year just a few days late. Below is a comparison of 2013 closed sales versus 2012 and 2011 closed sales for the entire Triangle Region as recorded in Triangle Multiple Listing.

2013 Averages-29514 total sales 3 bedrooms, 2.5 baths, 2165 square feet, $242,609 list price, $234,712 sale price, 86 days on market

2012 Averages-23886 total sales 3 bedrooms, 2.5 baths, 2171 square feet, $234,017 list price, $226,437 sale price, 118 days on market

2011 Averages-19765 total sales 3 bedrooms, 2.5 baths, 2142 square feet, $231,660 list price, $222,896 sale price, 136 days on market

The Triangle market has worked to clear listing inventories which right now are hovering at just under a three month supply. This stress on product inventory, primarily in the detached housing market is pushing prices higher. Condominiums still present a bit of a problem with tightening restrictions on lending criteria from Fannie Mae and Freddie Mac.*

If you or someone you know is thinking about buying, selling or leasing real estate, please refer them to me.  Thanks.