As the new year begins, the Triangle real estate market is already buzzing with activity. The holiday season’s slowdown is officially behind us, and this week’s stats reveal some remarkable shifts. Let’s take a closer look at what’s happening in the market as we dive into 2024.

This Week’s Highlights

Here’s a snapshot of this week’s key market statistics:

  • New Listings: 841 (+152.6%)
  • Back on Market: 131 (+81.9%)
  • Pending Sales: 651 (+25.0%)
  • Price Changes: 988 (+118.6%)
  • Sold Listings: 643 (+48.8%)
  • Expired Listings: 1,385 (+1054.2%)
  • Active Listings: 7,258 (-2.3%)

Analysis and Insights

The Triangle market saw a dramatic increase in new listings this week, climbing to 841 compared to just 333 last week. This influx of fresh inventory is welcome news for buyers eager to see more options after the seasonal holiday slowdown.

Pending sales also jumped, with 651 homes under contract—a 25% increase from the previous week. This uptick reflects buyers re-entering the market as the new year begins, taking advantage of early opportunities.

Price changes saw a sharp spike, doubling to 988 from 452. This could indicate sellers making adjustments to meet shifting market demands and better position their properties for success.

The number of sold properties climbed significantly to 643, a nearly 49% increase from last week, showing that the market is already moving in the right direction as we enter 2024.

The most striking stat is the massive jump in expired listings, soaring to 1,385—a 1,054.2% increase. This dramatic rise reflects the seasonal transitions in the real estate market. Many of these expired listings will likely reappear with fresh strategies or adjustments, offering new opportunities for buyers and sellers alike.

Looking Ahead

As we move deeper into January, the Triangle market is expected to maintain its dynamic pace. With more inventory hitting the market and increased buyer activity, 2024 is shaping up to be a competitive and exciting year for real estate.

Whether you’re looking to buy, sell, or invest, partnering with a knowledgeable and experienced team can make all the difference. At Brazoban Realty Group, we’re here to guide you every step of the way and help you achieve your real estate goals.

Let’s Connect!

Stay tuned for next week’s market update as we continue to track the latest trends in the Triangle housing market.

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Sources: Local MLS data