Welcome back to our weekly update on the real estate market in the Triangle area. Here’s a detailed look at the latest trends and statistics from the past week.

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New Listings

  • Last Week: 804
  • This Week: 888
  • Change: +10.4%

We’ve seen a significant increase in new listings this week, with a 10.4% rise. This uptick suggests growing interest from sellers entering the market, possibly in anticipation of favorable selling conditions.

Back on Market

  • Last Week: 246
  • This Week: 300
  • Change: +22.0%

The number of properties back on the market has surged by 22.0%. This could indicate that a notable number of deals fell through, leading to these homes being relisted.

Pending Sales

  • Last Week: 7,162
  • This Week: 7,102
  • Change: -0.8%

Pending sales have slightly decreased by 0.8%. This minor drop could reflect a brief pause in buyer activity or a natural fluctuation in the market.

Price Changes

  • Last Week: 770
  • This Week: 844
  • Change: +9.6%

Price changes have gone up by 9.6%, suggesting that sellers are adjusting their expectations to align with current market conditions, either by raising or lowering prices.

Sold Listings

  • Last Week: 868
  • This Week: 959
  • Change: +10.5%

The number of sold listings has increased by 10.5% this week, indicating a strong buyer presence and successful transactions closing at a higher rate than last week.

Expired Listings

  • Last Week: 54
  • This Week: 173
  • Change: +220.4%

There’s a substantial 220.4% increase in expired listings. This significant rise could point to challenges in the market, such as overpricing or changing buyer preferences, leading to listings not selling within the expected timeframe.

Open Houses

  • Last Week: 1,357
  • This Week: 1,126
  • Change: -17.0%

Open houses have decreased by 17.0%. This reduction might be due to a variety of factors, including market conditions, weather, or strategic changes by sellers and agents.

Conclusion

This week in the Triangle’s real estate market, we’ve observed notable changes, including a substantial increase in new and sold listings, as well as price changes. However, the rise in expired listings and the drop in open houses are areas to watch closely. Stay tuned for more updates as we continue to monitor these trends.

For personalized insights and assistance with your real estate needs, don’t hesitate to contact Brazoban Realty. We’re here to help you navigate the market with confidence. Don’t forget to subscribe to our weekly newsletter!

Feel free to contact us for any real estate advice or to schedule a consultation. Happy house hunting!