Thinking about listing? Right now might be a good time to give it a go! If the first half of 2015 is any indication of real estate trends in Wake County for the rest of the year, then we can be rest assured of an ever-strengthening market, especially for sellers.
Numbers Going Up
According to June 2015 (and the most current) data published by the Triangle Multiple Listing Service, the numbers that trend in this favor are a 16.2% decrease in inventory, a 11.5% decrease in days on market, and a 10% increase in median sales price. These are in comparison to June 2014.
Another encouraging statistic is an uptick in percent of original price received, now at 97.2% for most listings. Buyers need to keep this in mind when making offers—if you wonder why your low bid didn’t get a response, someone else may have beaten you to the punch with a higher offer. The data shows that sellers are definitely getting close to asking!
Good News for Buyers
The good news for buyers is that despite these strong trends for sellers, there is an ever-increasing amount of real estate to choose from. Yes, current inventory is down, but the overall number of listings has increased and keeps increasing. There is a broader selection to choose from. This coupled with the fact that interest rates are still low, the trend is encouraging for a strong market.
Will These Positive Housing Market Trends Continue?
Having the most up-to-date market data is critical to ensuring a successful outcome as a buyer or seller. That’s why here at Pace Realty Group we hope you’ll check back with us again soon for the most up-to-date information on the market possible.