Market Overview
The Triangle real estate market continues to exhibit signs of cooling down as we enter September. While home prices remain relatively high, a decrease in both new listings and pending sales is evident. This suggests that buyers may be adopting a more cautious approach in response to rising interest rates.
Key Market Indicators
- New Listings: Experienced a decline of 7.8% compared to the previous week.
- Pending Sales: Decreased by 4.3% from the previous week.
- Price Changes: Saw a notable drop of 22.5% from the previous week.
- Sold Homes: Increased by 3.5% from the previous week.
- Expired Listings: Rose by a significant 32.3% from the previous week.
- Active Listings: Decreased by 7.5% from the previous week.
Implications for Buyers and Sellers
For buyers, this cooling market presents an opportunity to find a wider selection of homes available and potentially negotiate better deals. However, it’s crucial to act swiftly as prices may still be on the rise.
For sellers, finding a buyer at their desired price may take longer. To attract more interest, consider pricing your home competitively and addressing any necessary repairs.
Conclusion
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Brazoban Realty Group can help you navigate the Triangle market and find your dream home. Contact us today to schedule a consultation.
