New Year New Market Update!
With the new year in full swing it allows us to take a look at how the housing market is doing in the Triangle.
First off, we had a few North Carolina snowstorms in the month of January which means school is out and people are inside. What does this mean for the housing market? Compared to January of last year showings are up 0% which isn’t out of the ordinary for a month with inclement weather. The silver lining to a wintery January is that showings are up 43% since December.
The overall inventory levels in the Triangle market are down 15% compared to January 2015 but new home inventory is up 15%. Statistics show that in 12 of the past 13 Februarys inventories have increased which creates a trend in this market we are looking forward to!
Winter weather has affected not only showing statistics but also pending sales. The market saw a 4% drop in pending sales since January of last year.
One thing the weather did not have an effect on was closed sales. These sales were up 8% since last year at the time. The average listing in the Triangle area is on the market for 59 days and that has decreased this month but there is still room for improvement.
If you’re thinking of selling and have questions on the market or if you’re wondering what steps you should take to prep your home for sale, contact Wilson Realty Group at (919)378-1974! Our expert Listing Specialists are here for you!