Triangle Real Estate Market Update October 2013

Triangle Real Estate Market Update October 2013

Housing Market Stats for the Raleigh Metro Area

Once again, the Triangle (Raleigh Metro area) has continued to show a strong recovery in the local housing market.

As we near the end of the selling season, when inventory is generally lower, we are not seeing a decrease in buyer activity.

Supply over the summer months was down to 3 months, indicating a very strong market. With only a slight increase in the Fall months, it has held stable. Notice 50% of homes for sale only stay on the market for less than 30 days, that certainly shows that demand is still there. This is exactly why we have seen many multiple offer situations this year. Homes that are priced well, in good condition combined with a motivated seller, don't last long.


Take a look at the video below where TMLS predicts that sellers will be less likely in the near future to make concessions.

I believe we are in the transition phase from a buyers market to a sellers market. The one thing that may affect a true swing to a sellers market is a rise in interest rates, so be aware of what's in store.

If you would like a more detailed analysis for the local housing market and what it means for you as a buyer or a seller, give me a call. I'd love to meet with you and discuss your unique real estate needs.