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Courtesy of Luis Santana & Jamie Welch

Broker Associates - Raleigh Realty

Over 33 Years of Combined Experience in The Triangle Real Estate Market!
#TriangleBuySellBuild  #ReferredForAReason  #ExperienceMatters

Market Activity Report
Wednesday, March 15th, 2023

(For the 16 counties covered by The Triangle Multiple Listing Service)

Week of March 8th - March 15th
Total Triangle Market - Residential & Land

New Listings - 975 
Pending Sales - 6,937 
Price Adjustment - 765 
Closed Sales - 690 

Residential Real Estate Only
Total # Of Triangle Area Homes For Sale - 4,530 ▼
Coming Soon - 100 
Pending Sales - 5,959 
Average Days On Market - 29
Supply Of Inventory - 1.6 Months 

Average # Of Showings To Pending - 16 ↔

Closed Year To Date - 5,560

Median Sales Price - Single Family Homes - $400,000 ↔
Median Sales Price - Townhouse/Condo - $350,000 ↔

Five to six months of inventory is needed for a BALANCED market. Our current inventory of 1.6 months still indicates a strong seller's market. Sellers are also receiving an average of approximately 95.6% of their starting price.

An Expert Gives You Clarity in Today’s Housing Market

The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process.

A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. Jay Thompson, Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Co-Founder and Chief Data Officer at Parclsays:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to help you separate fact from fiction and get the answers you need.

The right agent can help you understand what’s happening at the national and local levels, and they can debunk headlines using data you can trust. Experts have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the industry, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line

For expert advice and the latest housing market insights, reach out to a real estate professional today.


Source: Keeping Current Matters

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Luis Santana & Jamie Welch
Over 33 Years of Combined Experience in The Triangle Real Estate Market!

Thinking about buying, selling, or building, but feeling overwhelmed with our current market? We understand! Contact us today to discuss your personal situation! Now, more than ever, you need experience and skill on your side!

Click Here to Schedule a Buyer or Seller Consultation Call With Us at YOUR Convenience!

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