Welcome back to our weekly update on the Triangle’s real estate market. This week, we’re diving into the latest stats and trends that are shaping our local market. Let’s take a look at what’s been happening!
New Listings and Inventory Levels
This week, new listings have seen a notable decrease. We’ve gone from 928 new listings last week to just 804 this week, marking a 13.4% drop. This reduction in new properties entering the market could indicate tightening inventory, potentially leading to more competitive buying conditions.
Market Activity: Back on Market and Pending Sales
Properties coming back on the market have also decreased significantly, from 317 to 246, a 22.4% decline. Meanwhile, pending sales have seen a slight increase, moving up by 0.2% from 7145 to 7162. This steady rise in pending sales suggests sustained buyer interest and activity.
Price Changes and Sold Properties
Price changes have dropped by 22.9%, with numbers falling from 999 to 770. This might indicate a stabilization in pricing strategies among sellers. The number of sold properties has slightly declined by 1.7%, from 883 to 868, reflecting a relatively stable market.
Expired Listings and Open Houses
Expired listings have reduced dramatically by 35.7%, from 84 to 54. Fewer expired listings could suggest that properties are selling more efficiently. Open houses have decreased by 17.7%, from 1649 to 1357, which might be a result of more properties going under contract quickly, reducing the need for open houses.
At Brazoban Realty Group, we’re here to help you navigate these market changes. Whether you’re buying, selling, or just curious about the market, our team is ready to assist. Leave a comment below and let us know your thoughts on this week’s trends. Don’t forget to subscribe to our newsletter for more updates!
