June is typically the busiest month in real estate across the Triangle and for Kelly and I, the month of June was no exception.
June Stats – Triangle Real Estate Market
Typically, June is the month where we see more listings, and more prospective buyers are looking at houses. That was not the case this June. Showings were down 17% and listings were down 8% compared to 2017. It appears that the consistent lack of inventory; combined with the rise in sales prices, up 5% from 2017, are keeping prospective buyers on the sidelines.
While fewer people are looking, those buyers that are looking at houses are buying and the prices that they are paying continues to increase.
Pending home sales increased by 4%. Home prices, both new home, and resale increased past the $300,000 mark for the 1st time ever. Average new home prices increased to $325,000, while resale prices increased to $308,000.
July and August are generally slower for the real estate market as the summer vacation season ramps up.
About Log Pond Realty @ RE/MAX United
Home is where your story begins. A home is where hopes and dreams are born, memories made, and lives 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.