A Look At Triangle Home Prices At 2018 Halfway Point

A Look At Triangle Home Prices At 2018 Halfway Point


Home sale trends continue to deepen throughout the Triangle at the halfway point of the year, with median prices rising 7 percent over last year.

The median price home now tops out at $265,000, up from $248,000 at this time in 2017, according to data tracked by the Triangle Multiple Listing Service.

“The only thing that’s going on a straight upward path now is pricing,” says Stacey Anfindsen, appraiser with Birch Appraisal Group and author of the Triangle Area Residential Realty, or TARR, report.

The price increases come as the home market remains tight across the region. The number of new listings has risen, but only slightly, at just 1.8 percent over this time last year.

Anfindsen’s analysis of only the second quarter found an increase in new listings as well, but the uptick was mostly due to new homes and not the “needed” resale inventory priced under $400,000, according to the TARR report.

Demand for the limited inventory remains strong, with the average number of days a home sat on the market in the Triangle dropping from 37 through June of last year to 31 this year.


Triangle Business Journal


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Phone: 919-621-2911
Dated: October 6th 2018
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