Median Price
It's always important to remember that median prices fluctuate widely, especially when the sample size is small. For example, only 14 homes sold in Morrisville in March of this year. The smaller the town, the less relevant this information is. Cary, Apex, and Durham are large enough towns that median home price increases should be taken seriously.
Competing Offers
And as prices rise, it is not surprising that you start to see a lot of competing offers. The same is happening in our practice. The market is competitive right now!! Sign up for our newsletter to stay up to date.
Triangle Area Town Median Price Change:
Year-over-year % Competitive Offers Apex 680,000 21.80% 24.75% Cary 645,000 17.27% 30.36% Chapel Hill 735,000 20.87% 32.65% Clayton 360,000 00% 9.60% Durham 409,322 2.36% 21.79% Fuquay-Varina 444,455 – 1.23% 8.40% Garner 393,000 3.43% 9.84% Holly Springs 579,000 – 4.69% 28.57% Knightdale 437,000 10.63% 6.12% Morrisville 532,000 13.19% 50.00% Lowry 433,500 9.75% 18.62% Wake Forest 539,000 19.91% 12.20% Wendell 397,500 – 0.38% 3.26% Zebulon 344,500 – 1.56% 9.68%
Expired listings
Expired listings are a key indicator of the health of the real estate market. This month's data is very interesting. As with the data above, the fewer the number of listings, the less valuable the information. However, expired listings are on the rise. After the 2008 financial crisis, the highest number of expired listings in March was in 2009. In March of that year, 229 properties expired unsold in Raleigh – about one-third of this year's. And while expired listings have almost disappeared during the pandemic, the current numbers are similar to 2013-2015. This is something to keep an eye on. Let's see what happens next month.
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Triangle Area Towns 2023 Expiry Properties 2024 Expiry Properties Change Percentage Apex 61066.67% Cary 101990.00% Chapel Hill 7814.29% Clayton 1711-35.29% Durham 1646187.50% Fuquay-Varina 81362.50% Garner 5980.00% Holly Springs 54-20.00% Knightdale 16500.00% Morrisville 330.00% Raleigh 407485.00% Wake Forest 101220.00% Wendell 511120.00% Zebulon 1611-31.25%
View homes for sale in each Triangle town, city and county here.
New listings in the Triangle