The Raleigh Durham area continues to have growth in the real estate market! Though you may have heard that the market is somewhat cooling off at a national level, that has not yet been seen in Raleigh Durham. The Triangle MLS reports the following pertaining to the greater triangle region’s real estate market in August of 2021. Please keep in mind that all of this data is reflective not just of Durham and Raliehgh, but the sorrounding counties (16 in all) that sorround it. If you want more in depth look at a parrticular spot, just let us know! All of the percentage changes that you will see are comparing to August of 2020 to August of 2021 .
New homes being listings in the triangle were up 1.5 percent to 4542 total homes for sale. This is still a very small supply to have for the demand of buyers! Inventory levels fell 48.1 percent to 2,978 homes. But closed sales were up 3.4 percent to 4,337!
The Median Sales Price increased by 15.2 percent to $351,000. Days on Market was down 62.5 percent to 9 days. Sellers can continue to be encouraged as Months’ Supply of Inventory was down 53.3 percent to 0.7 months. This means there is not enough inventory to stop the multiple offer situations! So overall, no huge changes in the triangle real estate market. It is still a very competitve seller’s market! But with the right agent(Like us!), we can get you secured to be the winner of your dream home!
Call us anytime!
Zach & Cindi Honeycutt, Realtors, Movil Realty, 919-694-4228
Cindi is a born and raised Durham native. She is a former elementary school teacher turned realtor, now working at Movil Realty. Cindi is excited to help others find their home here in the triangle.