First Quarter 2016 Local Real Estate Market Statistics

The stats are far better than this picture reports! Since April, 2015:

Showings are up 10%
Inventory is down 14%
Listings are up but most are selling fast
Pending inventory is up 11%
Closings are up 15%
Resales under $400,000 are moving:
63% of resales listed in April went under contract; 69% had Days on Market less than 30; and 29% of those homes that sold in April sold        for above list price!

The bottleneck in the market is homes priced above $500K.  We are still seeing listings expiring or reducing their prices.  In fact, 35% of the inventory priced above $500,000 had price reductions.

Overall, days on market are going down.  The current average for the Triangle is 47 and average prices are up 6%.