Strong Finish to the Year for Triangle-Area Real Estate

2018 is here – Happy New Year from all of us at Pointe Realty Group!
As we look back on 2017, we invite you to take a look at what the market trends looked like in Raleigh and the greater Triangle area in November and December. Keep reading for our breakdown of the numbers based on the November 2017 and December 2017 reports provided by Triangle MLS.

November 2017 – More Listings, More Sales

According to the Triangle MLS Local Market Update, as of November 30, 2017, there were over 1,000 more new listings in 2017 than there were in 2016. More listings have also brought about more closed sales! There have been approximately 36,262 closed sales as of November 31, 2016, compared to 34,264 in 2016.

Good News for Sellers

The Triangle continues to be a sellers’ market with the average sales price of homes increasing by about $19,000 if you look at November 2017, compared to November 2016. As of November 30, 2017, houses listed for sale are spending about 44 days on the market compared to 49 in 2016. Plus, the inventory of homes for sale continues to trend lower. The percent of list price that the seller received was 99% – up from 98.6% in 2016. If you are thinking of selling your home, now is the time to do it!

December 2018

Finishing Strong

Much like November, new listings went up in December from 2,167 in December 2016 to 2,183 in December 2017. There have also been over 2,000 more closed sales in 2017 than there were in 2016.

More Good News

The median sales price for homes has gone up by $20,000 and the average sales price has gone up by over $17,000! Plus, houses are spending an average of six days less on the market.

Questions?

Have questions about what’s going on in the market? We would love to talk with you! Contact us for more information on the Raleigh and Triangle-Area Market Trends and we will update you with the December numbers when we have them!
 

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