A look back: 2013 was another year of improvement for Triangle Real Estate

Posted on 01/14/14 No Comments

9325 Dansforeshire Way is a 4-bedroom home for sale in Wake Forest, NC

9325 Dansforeshire Way is a 4-bedroom home in Wake Forest, NC Sold by Ann & Amy Real Estate

 

The number of home sales in Raleigh, Cary and the rest of the Triangle was up significantly last year. Recorded sales volume was its most robust since before the recession.

The only metric that did not show serious growth was average sales price, despite an ongoing glut of inventory. Normally, when there aren’t a number of houses for sale on the market, average price climbs. Price grew by less than 5 percent. The silver lining in that number is that our market’s value remains impressive.

Most of the market will agree that while we’re not in the most ideal of housing situations, the Triangle is much more active than other national markets and that our status is more representative of a typical market fluctuation than a symptom of what’s left of the recession. With prices averaging $246,000, home buyers can secure a terrific home for much less than what markets like New York, Southern California or the Bay Area can offer. And yes, the Triangle is competing — and often winning — for their future residents, jobs and businesses.

Last year also showed improvement in the number of days on market, which decreased to an average of 78 days, just over three months. That’s not bad at all. Almost half of all homes that were put on the market were sold within a month, however. Even better.

If you’re looking to sell in the next few months, especially in the Spring when activity commonly jumps, the odds are you’re going to leave closing with a lot to be happy about.

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