The real estate market in the Triangle region of North Carolina has seen notable demographic shifts. Factors like population growth, economic development, and evolving housing preferences have influenced these changes.
Durham’s Market Residential January 2025
Absorption Rate increased by 12.95% for January 2025. It also increased year to date. This shows a higher rate of sales compared to new listings compared to 2024.
Average List Price decreased by 6.67% in January 2025 and by 3.26% year to date, indicating lower listing prices this year.
Median List Price dropped slightly by 1.16% in January but increased by 1.67% year to date, reflecting a modest rise in listing prices over the year-to-date period.
Average Sale Price increased by 4.52%, both in January and year to date, reflecting higher selling prices.
Median Sale Price decreased by 1.53% in January. The same decline is observed year to date. This indicates slightly lower median sale prices compared to last year.
Average Days on Market increased by 20.93% in January and year to date, suggesting properties are taking longer to sell.
In summary, sale prices are up slightly. The listing prices have decreased. Homes are taking longer to sell in January 2025 compared to the same period last year.
Raleigh’s Market Residential January 2025
Absorption Rate has increased by 11.82% from January 2024 to January 2025, indicating a higher rate of sales compared to listings in January 2025.
Average List Price dropped by 2.42% compared to January 2024, and by 2.10% when comparing year to date figures for both years.
Median List Price also declined, by 1.42% in January 2025 and 0.66% year to date.
Average Sale Price saw a significant increase of 10.22%, both in January and year to date reflecting a higher selling price in 2025 compared to 2024.
Median Sale Price rose by 5.78%, showing a similar trend of higher selling prices in January 2025 and year to date.
Average Days on Market increased by 68.42% in January, indicating homes are taking longer to sell in 2025 than in 2024.
In summary, the market shows a mixed picture. Prices are rising, especially for sale prices. Yet, properties are taking longer to sell in January 2025 compared to the prior year.
Economic Development and Employment Opportunities
The region’s robust economic growth, particularly in the technology and research sectors, has drawn professionals seeking employment opportunities. This influx has increased demand for housing, especially in areas with proximity to major employment centers.
Looking ahead to 2025, the market is expected to stay active. Interest rates are predicted to stabilize or decrease. This change stimulates buyer activity.
Shifts in Housing Preferences
There is a growing demand for sustainable housing and community-centric developments, reflecting changing consumer preferences. This trend is influencing both residential and commercial real estate projects in the area.
Overall, the Triangle region’s real estate market in 2025 is characterized by continued growth. Housing preferences are evolving. The demographic landscape is dynamic. All these factors contribute to a competitive and evolving market environment.
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References: Wake County, Triangle MLS, and Trademark Properties.
