Triangle’s Weekly Stats – Nov 20th, 2023

Hello, Triangle residents! Let’s take a look at the latest changes to our local real estate landscape. It’s important for us to explore the shifts and changes that unfold every week.

Key Metrics: Comparing Last Week vs. This Week’s Trends

The real estate landscape in the Triangle area experienced important shifts this past week. Let’s delve into the significant changes across all the metrics compared to the previous week:

1. New Listings: Decline by 35.3%

This week recorded 451 new listings, marking a substantial decrease of 35.3% from the 697 listings the week prior. Moreover, this decline in fresh properties entering the market might affect buyer options and overall market activity, so keep checking in with us.

2. Back on Market Listings: Drop by 36.3%

The number of properties re-entering the market decreased notably by 36.3%. There were only 100 listings compared to the previous week’s 157. This decline in relisted properties could signify increased market stability.

3. Pending Sales: Dip by 1.9%

Pending sales witnessed a slight decline, standing at 4,972 compared to the previous week’s 5,067, marking a 1.9% decrease. This change might indicate a temporary slowdown in the buying process or evolving buyer sentiments.

4. Price Changes: Decrease by 28.7%

Moreover, the number of price changes dropped significantly by 28.7%, totaling 592 compared to 830 in the previous week. This reduction might reflect seller confidence or strategic pricing adjustments.

5. Properties Sold: Decrease by 9.7%

Sold properties decreased to 634 from 702, marking a 9.7% decline. This change might hint at a shift in buyer demand or market conditions influencing transaction volumes.

6. Expired Listings: Decrease by 21.4%

There were 44 expired listings, down by 21.4% from the 56 listings in the previous week. This decrease in expired listings could signify improved market dynamics.

7. Open House Listings: Plummet by 39.8%

Additionally, open house listings dropped significantly to 1,338 from 2,223, marking a substantial 39.8% decline. This notable reduction might reflect altered marketing strategies or changing buyer behaviors.

These week-over-week changes illustrate the dynamic nature of the Triangle’s real estate market. These fluctuations could result from various factors. Seasonal influences, economic trends, or evolving buyer and seller behaviors.