Your weekly market update!
View this email in your browser

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, May 24th, 2023

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

Week of May 17th - May 24th
Total Triangle Market - Residential & Land

New Listings - 1,024 
Pending Sales - 7,487 
Price Adjustment - 778 
Closed Sales - 814 

Residential Real Estate Only
Total # Of Triangle Area Homes For Sale - 4,528 
Coming Soon - 91 
Pending Sales - 6,304 
Average Days On Market - 18 
Supply Of Inventory - 1.6 Months 

Average # Of Showings To Pending - 16 ↔

Closed Year To Date - 13,344
(-2,980 from 2022)

Median Sales Price - Single Family Homes - $419,900 ↔
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 97.9% of their starting price.

Price Improvement - 77 Covington Court

Taft Woods West
Clayton, NC
Now Offered at $620,000!

Click the pic for more info and a 360 Virtual Tour!

Why Buyers Need an Expert Agent by Their Side

The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes.

Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective: 

“Advice and guidance from a professional real estate agent can be invaluable, particularly amid a hot or unpredictable housing market.”

Here are just a few of the ways a real estate expert makes a big difference: 

  • Experience – Real estate professionals know the ins and outs of what’s happening today, how it impacts buyers, and how to navigate any hurdles that may pop up.
  • Education – Knowledge is power when it comes to buying a home. Your advisor will simply and effectively explain market conditions and translate what they mean for you so you can feel confident in your decision. 
  • Negotiations – Your real estate advisor advocates for your best interests. Having an expert on your side provides assistance with the purchase agreement. An agent can also help you negotiate potential seller concessions if the inspection reveals issues with the home.  
  • Contracts – Real estate advisors guide you through the disclosures and contracts necessary in today’s heavily regulated environment. 
  • Pricing – Making an offer and negotiating with a seller can be one of the most difficult and stressful parts of the homebuying process. A skilled agent will help you understand what similar homes are selling for so you have the full picture of what you may want to offer.

All of these reasons combined may be why 86% of recent buyers used an agent according to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR). NAR also has this to say about why an agent is so essential today: 

“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget. Agents are also a great source when you have questions about local amenities, utilities, zoning rules, contractors, and more.” 

What’s the Key To Choosing the Right Expert?

It starts with trust. You’ll want to know you can trust the advice they’re giving you, so you need to make sure you’re connected with a true professional. No one can provide perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in today’s market. But a true professional can give you the best possible advice based on the information and situation at hand. 

They’ll help advocate for you throughout the process and coach you on the essential knowledge you need to make confident decisions. That’s exactly what you want and deserve. 


Bottom Line

It’s critical to have an expert on your side who is skilled in navigating today’s housing market. If you’re planning to buy a home this year, connect with a real estate advisor who will give you the best advice and guide you along the way.

Source: Keeping Current Matters
Search By School District
New Construction
Triangle Area Homes
Search By Zip Code
Luxury Homes ($700k+)
Golf Course Communities
Thinking about buying or selling in the near future? Education is KEY in this ever changing market! Click the pics below to request your FREE copy of our buyer and/or seller guides today!
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!

Email -
Preferred Vendors
Our favorite "go-to" professionals for all your real estate needs
Click the cards for more info!
Copyright © 2023 Raleigh Realty, Inc., All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp