Triangle MLS Report September Marketing Report
Do you hear that? Hummmmm. That’s the delightful sound of normalcy. Buyers are buying, sellers are selling, lenders are lending and builders are building. Sure, this varies from region to region and even city to city within a region or state, but by and large, things are returning to normal. All major indices showcase fairly robust price recovery. Consumer confidence isn’t what it could be, but it’s sufficient for now.
New Listings in the Triangle region increased 12.1 percent to 3,301. Pending Sales were up 27.2 percent to 2,390. Inventory levels shrank 8.3 percent to 13,539 units.
Prices got a lift. The Median Sales Price increased 3.9 percent to $193,000. Days on Market was down 15.0 percent to 97 days. Absorption rates improved as Months Supply of Inventory was down 27.2 percent to 5.7 months.
There’s some evidence that it’s not just first-time home buyers fueling the recovery. Move-up buyers are also pulling their weight. Some baby-boomers are ready to look for less space, nudging Junior out of the basement. The pizza boxes and late-night video games get old, plus there’s a fresh crop of buyers looking for a bigger space to raise their own little darlings.
Click here to access the TMLS Monthly Indicators report for September 2013.
Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of October 10, 2013. All data & text from Triangle Multiple Listing Service, Inc. Powered by 10K Research and Marketing.