Triangle Real Estate Market Update September 2013
Local Real Estate Market Continues to Improve
Compared to September of last year (2012) closed sales are up 15%. And for 3rd Quarter 2013, closed sales are up 26%. Typically this time of year the market slows, mostly due to the holiday season and people's lack of interest in moving this time of year.
Supply of homes available for sale has also decreased since last year. We are currently at a 3 month supply, which is relatively low. On average homes as staying on the market about 30 days less than this time last year. It was also noted that homes priced well and in great condition are selling within a week!
Several important lessons can be learned from this report if you are a buyer or a seller in our local market right now.
1. If you are thinking of selling - this is a great time. Especially before the end of the year. Why? Because you will have less competition since less homes are typically listed in Q4. And there is still buyer demand!
2. Pricing your home right and making sure it's in excellent showing condition will yield you a speedy sale.
3. If you are a buyer, it is important to be pre-approved for a loan and have your needs and wants in a home ironed out. So when that perfect home comes on the market - the one that everyone wants - you are ready to make a solid offer and close quickly. Multiple offers are occurring on the homes that everyone wants.
Supply of homes available for sale has also decreased since last year. We are currently at a 3 month supply, which is relatively low. On average homes as staying on the market about 30 days less than this time last year. It was also noted that homes priced well and in great condition are selling within a week!
Several important lessons can be learned from this report if you are a buyer or a seller in our local market right now.
1. If you are thinking of selling - this is a great time. Especially before the end of the year. Why? Because you will have less competition since less homes are typically listed in Q4. And there is still buyer demand!
2. Pricing your home right and making sure it's in excellent showing condition will yield you a speedy sale.
3. If you are a buyer, it is important to be pre-approved for a loan and have your needs and wants in a home ironed out. So when that perfect home comes on the market - the one that everyone wants - you are ready to make a solid offer and close quickly. Multiple offers are occurring on the homes that everyone wants.
Take a look at this video from TMLS for more detailed information.
If you are considering buying or selling in the Cary, Apex, Morrisville or surrounding communities, please give me a call so we can weigh all your options and make sure you make the right move.
