The significant drops in sold listings and pending sales show a cooling or slowdown in the market.

Key Market Metrics

Key Insights

  1. Market Slowdown: The significant drops in sold listings and pending sales (-34.0% and -6.2%, respectively) show a cooling or slowdown in the market, due to seasonal effects, pricing, or broader economic conditions.
  2. Increased Active Inventory: The +23.2% increase in active listings suggests that the supply of homes is rising. Yet, demand is not keeping pace. This is reflected in the drop in sold and pending sales. It will create a buyer’s market.
  3. Price Reductions: Fewer price changes (-9.4%) show that sellers are becoming less willing to adjust prices, or market conditions are stabilizing.
  4. Expired Listings Decline: The large drop in expired listings (-71.9%) suggests that fewer listings are being removed from the market without a sale. This implies that sellers are adjusting their expectations or there is less frustration with the market.

Factors Influencing the Market

Several factors continue to shape the Triangle real estate market, including:

  • Seasonal effects are causing a temporary slowdown, but we expect an uptick in activity as we move into spring.
  • Interest rates stay a critical factor—higher rates reduce buyer demand and slow the pace of sales.
  • Inventory levels are increasing. This will help balance out demand. Still, if demand doesn’t pick up as expected, there will be downward pressure on prices.
  • Local economic factors (job growth, inflation) play a key role in determining market activity.
  • External economic conditions and buyer sentiment (media coverage, economic uncertainty) also dampen or stimulate demand.

Navigating the Market

Navigating the competitive Triangle real estate market requires careful planning and expert guidance. Working with a knowledgeable real estate agent can be invaluable. They help you find the right property. They also help you in making informed decisions and achieving your real estate goals.

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