Welcome to this week’s edition of Triangle’s Weekly Real Estate Stats, providing you with the latest updates on the local housing market trends. Let’s delve into the numbers for the week of Feb 12, 2024.
New Listings:
This week saw a decrease in new listings, with 583 properties coming onto the market, reflecting a decline of 11.9% compared to the previous week. This slight downturn suggests a possible adjustment in seller activity.
Back on Market:
There was also a decrease in properties returning to the market, with 176 homes back on the market, representing a decline of 6.4%. This decrease may indicate improved transactional stability among pending sales.
Pending Sales:
Despite the decline in new listings, pending sales experienced a slight increase, with 4,882 transactions pending. This uptick of 3.5% suggests continued strong buyer demand in the market.
Price Change:
Properties undergoing price changes decreased by 14.7% this week, with 447 properties adjusting their prices. This decline may indicate sellers becoming more strategic in their pricing strategies to attract buyers.
Sold Properties:
The number of properties sold saw a modest increase, with 442 homes sold during the week, representing a 3.8% rise compared to the previous week. This increase in sales activity suggests ongoing momentum in the market.
Expired Listings:
There was a notable decrease in expired listings, with only 149 properties expiring from the market, marking a significant decline of 35.2%. This decrease may indicate improved market conditions and stronger seller positioning.
Open House Events:
Open house events also saw a decline, with 1,084 properties hosting open houses, representing a decrease of 17.7%. This reduction may reflect seasonal factors or a shift in marketing strategies among sellers.
Overall, the Triangle real estate market continues to demonstrate resilience and activity, with fluctuations in certain metrics reflecting the dynamic nature of the market. As we progress further into the year, we anticipate continued opportunities for both buyers and sellers in the Triangle area.
Stay tuned for next week’s update as we continue to monitor and analyze the evolving trends in the Triangle’s real estate landscape.
For personalized insights and expert guidance on navigating the Triangle real estate market, contact the Brazoban Realty Group today. We’re here to help you make informed decisions and achieve your real estate goals with confidence.
