The 1st quarter of 2017 has come and gone and it's time to take a look at where the market stands for the Triangle area. We're going to take a look at the Triangle Multiple Listing Service numbers and see what the market has done in comparison to the 1st quarter of 2016 both when it comes to overall number, new homes, resale inventory, new listings, closed sales and average closing price.
Overall inventory is down 4% in the 1st quarter of 2017 since the 1st quarter of 2016 in Durham, Johnson, Orange and Wake County in NC with 5,333 listings in Q1 of 2016 to 5,137 listings in Q1 of 2017.
New home inventory is up 15% since the 1st quarter of 2016 with 1,774 listings in Q1 of 2016 and 2,043 listings in Q1 of 2017 in Durham, Johnson, Orange and Wake Counties.
Resale inventory is down 15% since Q1 in 2016 with 3,559 listings in Q1 of 2016 and 3,094 listings in Q1 of 2017 in Durham, Johnson, Orange and Wake Counties.
New listings inventory is up 9% over the 1st quarter of 2016 with a total of 9,834 listings as of the end of the 1st quarter of 2017 vs 9,051 at the end the 1st quarter of 2016 in Durham, Johnson, Orange and Wake Counties in NC.
Closed sales are up 11% over the 1st quarter of 2016 with 1,671 closed listings by the end of quarter 1 for 2016 vs 1,759 closed listings by the end of quarter 1 for this year in Durham, Johnson, Orange and Wake Counties.
The average days on market are 47 days at the end of the 1st quarter for this year in the Triangle.
The average closing price in the 1st quarter of this year in Durham, Johnson, Orange and Wake County is $286,000 overall which is up 5% from the 1st quarter of 2016 and $261,600 for resale only which is up 3% from the 1st quarter of 2016.
If you'd like to discuss these numbers further, or have other questions about the marketing, please call us at 919-263-2888. We'd love to help you buy a home, sell your home, or invest in real estate.
Author:Peter Kima Phone: 919-609-6777 Dated: April 25th 2017 Views: 405 About Peter: When it comes to providing the utmost in personal service to his clients, Peter Kima is on the cutti...
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When it comes to providing the utmost in personal service to his clients, Peter Kima is on the cutting edge. This family man's demanding work ethic was passed on from his parents. His mother, a first generation German-American, forged a new life in a strange country. His father, who has not missed a day of work since 1972, led by example. Peter does not rest until he's done everything in his power to help you achieve your goals. As a husband and a father, his understanding of the importance of a family's home is reflected in his every move.
When Peter is not helping one of his clients, he can be found volunteering his time running a charity Lobster Bingo event, cooking burgers at the local Fire Station to benefit the children in the community, delivering dictionaries to every 3rd grade student in Wake County with his Kiwanis Club, collecting school supplies for the needy, or ringing the bell for the Salvation Army. His favorite pastime, however, is spending time with his wife, Jennifer, and their two sons, Cole (12) and Camden (9 going on 20!).
Peter has resided in Germany, California, Georgia, Indiana, Massachusetts, North Carolina, Oregon and Vermont. Having lived in North Carolina for over 10 years, Peter refers to North Carolina as home. Don't underestimate the value of Peter's moving experience. He and his team understand the rigors involved in making a family move. Rely on that experience to help you.
I have been helping buyers in the Raleigh Real Estate market for over
"We enjoyed every aspect of working with Jennifer. She was welcoming, extremely knowledgeable about the area and was always kind and professional. We would highly recommend her to anyone in need of real estate services. Kurt & Kathi McCorkle"