October Market Summary – Wake County General Brokerage
After the September real estate numbers were posted, many that follow the local real estate market feared a possible slow down ahead. The October numbers were generally robust.
While the number of showings was down 18% and overall inventory was down 2%; including a 13% decrease in resale inventory, the # of new construction homes increased by 16%. The ability of residential home builders to rebound from the downturn of the mid-2000’s is a key element of a continued growth of the local real estate market.
Over the past few weeks, Kelly and I have been visiting many new home communities across the Triangle. Many of the communities, especially those in the $350k – $500k price range, have identified that they have been busy with potential buyers viewing their communities.
As we enter the holiday season; one that is traditionally a slow period for home sales, it will be interesting to see if the market continues to enjoy growth.
About Log Pond Realty @ RE/MAX United
Home is where your story begins. A home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you with assisting you to write your new story.
We can be reached via email at email@example.com or by phone at 919.589.3576.
We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest and Garner.