The results for August homes sales are in for the Triangle. 2013 continues to see lower inventory in all of the Triangle markets. In August we saw Wake County’s inventory drop below three months to 2.9. Durham County and Orange County dropped to 3.3 and 3.7 respectively.
Prices are continuing to rise despite the increase in interest rates. Average sales price in Wake County was $262k. Durham was $203k and Orange was $336k
Average Days on Market for Wake County was 84. Durham 96 and Orange 94.
What does this mean? Right now there is a slight sellers market going on. Inventory is needed to balance out the demand for the buyers out there. Whether you are buying or selling, it is a great time to get in on the action. Email me at email@example.com if you have any questions about the market in the Triangle, NC area.