Triangle Real Estate Market Update for April 2014
Spring Real Estate Sales on the Rise
The real estate market in the Triangle over the winter months was fairly slow, TMLS mainly attributes this to weather hampering buyer and seller motivation. However April saw this pent up inventory and demand start to rise. Inventory was up 3% in April from the previous month and Pending Sales were up 12% from the previous month. Monthly Closed Sales also saw significant growth.
Given the unusually long and cold winter, TMLS analysts predict a slower start to the Spring/Summer selling season than usual. Stacy suggests that the coming months will catch up on pent up demand.
Although inventory is not as high, Prices are on the rise and Days on Market are getting shorter, which indicates a pretty stable market and actually getting close to what some would consider a sellers market.
Whether you are buying or selling, knowing what the market trends are in your area can help you better understand your position in the market. As a local professional Realtor in this area for many years, I can help you sort out all of the information and educate you on how it relates to your particular situation. Please feel free to call me anytime to set up a consultation to discuss your real estate needs.
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