Triangle Home Sales See Dramatic Increase in October

Triangle Home SellingThis is news that any home seller in the Raleigh, Durham or Chapel Hill areas is going to welcome!

The Triangle region saw a surge in the number of homes sold during the month of October, according to a recent article I was reading. And home prices continued to remain relatively stable!

If you’re considering entering the market anytime soon as a home seller, I recommend you continue reading to learn more about current market conditions.

An Overview of Recent Wake County Area Real Estate Activity

Here’s an overview of recent activity that you should be aware of if you’re trying to sell your home. Data was pulled from the Triangle Multiple Listing Service:

  • In October, the market saw 2,633 home sales, compared to 2,338 sales in October 2013. The market includes 16 counties in the area.
  • The market also reported 2,543 home sales in September as a means of comparison.
  • The average home sales price in October was up 1.1 percent to $242,526.
  • Meanwhile, the median sales price was up 1.6 percent to $203,120.
  • Meanwhile, pending sales were up almost 12 percent.
  • Year-to-date, the local housing market’s sales are up 4.5 percent when compared to the same period last year.
  • And the average home sales price was up 3.5 percent.
  • The Triangle region’s Housing Affordability Index was at 157, which is up 1 percent from last year. This number basically means that the household median income is 157 percent of what is necessary to qualify for the median-priced home in the region. The higher the number, the better the affordability.

Discover How We Can Help You With Your Next Triangle Home Sale

What a great early holiday present this recent news from the housing market is for home sellers! Across the board, things are looking up for sellers.

Contact us at The Rachel Kendall Team today to discover how we can help make your Triangle area home selling dreams a reality. We would love to help by offering you valuable advice and user-friendly resources.

Until next time,

Rachel

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